Artur Bergman Sells 40,000 Shares of Fastly (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $17.08, for a total transaction of $683,200.00. Following the sale, the chief technology officer owned 2,185,135 shares of the company’s stock, valued at $37,322,105.80. This trade represents a 1.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Artur Bergman also recently made the following trade(s):

• On Thursday, February 19th, Artur Bergman sold 34,576 shares of Fastly stock. The stock was sold at an average price of $20.10, for a total transaction of $694,977.60.
• On Thursday, February 19th, Artur Bergman sold 39,881 shares of Fastly stock. The stock was sold at an average price of $18.89, for a total transaction of $753,352.09.
• On Wednesday, February 18th, Artur Bergman sold 18,338 shares of Fastly stock. The stock was sold at an average price of $17.53, for a total value of $321,465.14.
• On Tuesday, February 17th, Artur Bergman sold 40,000 shares of Fastly stock. The stock was sold at an average price of $17.53, for a total value of $701,200.00.
• On Friday, February 13th, Artur Bergman sold 200,847 shares of Fastly stock. The shares were sold at an average price of $18.42, for a total value of $3,699,601.74.
• On Friday, February 13th, Artur Bergman sold 20,128 shares of Fastly stock. The stock was sold at an average price of $18.25, for a total value of $367,336.00.
• On Monday, February 9th, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $8.84, for a total value of $176,800.00.
• On Monday, February 2nd, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $9.36, for a total value of $187,200.00.
• On Tuesday, January 27th, Artur Bergman sold 49,320 shares of Fastly stock. The shares were sold at an average price of $10.40, for a total value of $512,928.00.
• On Monday, January 26th, Artur Bergman sold 30,680 shares of Fastly stock. The stock was sold at an average price of $9.92, for a total transaction of $304,345.60.

Fastly Price Performance

NYSE FSLY opened at $17.96 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. Fastly, Inc. has a 12 month low of $4.65 and a 12 month high of $20.27. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -18.71 and a beta of 1.03. The company’s 50 day moving average is $11.39 and its two-hundred day moving average is $9.84.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FSLY. DA Davidson set a $13.00 target price on shares of Fastly in a report on Thursday, February 12th. Royal Bank Of Canada raised their price target on Fastly from $10.00 to $12.00 and gave the company a “sector perform” rating in a report on Thursday, February 12th. KeyCorp raised Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 price objective for the company in a research note on Monday, December 15th. William Blair upgraded Fastly from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 12th. Finally, Citigroup lifted their target price on Fastly from $10.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, February 13th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.00.

Institutional Investors Weigh In On Fastly

A number of hedge funds have recently made changes to their positions in the company. Penserra Capital Management LLC purchased a new position in Fastly during the 3rd quarter valued at approximately $61,864,000. Alyeska Investment Group L.P. boosted its position in shares of Fastly by 2,795.2% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock valued at $48,754,000 after acquiring an additional 4,623,767 shares during the last quarter. Divisadero Street Capital Management LP purchased a new position in shares of Fastly in the third quarter valued at $21,174,000. Marshall Wace LLP increased its position in Fastly by 115.2% in the second quarter. Marshall Wace LLP now owns 3,385,167 shares of the company’s stock worth $23,899,000 after purchasing an additional 1,811,935 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its position in Fastly by 3,941.1% in the second quarter. Balyasny Asset Management L.P. now owns 1,329,006 shares of the company’s stock worth $9,383,000 after purchasing an additional 1,296,119 shares during the last quarter. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Fastly Company Profile

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.