Fastly (NYSE:FSLY) CTO Sells $14,910.00 in Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 852 shares of Fastly stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $17.50, for a total transaction of $14,910.00. Following the sale, the chief technology officer owned 2,053,829 shares in the company, valued at approximately $35,942,007.50. This represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, May 28th, Artur Bergman sold 1,077 shares of Fastly stock. The shares were sold at an average price of $17.02, for a total transaction of $18,330.54.
• On Tuesday, May 19th, Artur Bergman sold 31,848 shares of Fastly stock. The shares were sold at an average price of $16.41, for a total transaction of $522,625.68.
• On Monday, May 18th, Artur Bergman sold 32,181 shares of Fastly stock. The shares were sold at an average price of $16.85, for a total transaction of $542,249.85.
• On Tuesday, March 10th, Artur Bergman sold 265,000 shares of Fastly stock. The shares were sold at an average price of $22.79, for a total transaction of $6,039,350.00.
• On Monday, March 9th, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $21.07, for a total transaction of $842,800.00.
• On Monday, March 2nd, Artur Bergman sold 275,234 shares of Fastly stock. The shares were sold at an average price of $20.56, for a total transaction of $5,658,811.04.
• On Thursday, March 5th, Artur Bergman sold 31,079 shares of Fastly stock. The shares were sold at an average price of $20.69, for a total transaction of $643,024.51.
• On Wednesday, March 4th, Artur Bergman sold 24,532 shares of Fastly stock. The shares were sold at an average price of $21.06, for a total transaction of $516,643.92.

Fastly Price Performance

NYSE FSLY traded up $0.82 on Friday, reaching $17.76. The company’s stock had a trading volume of 6,297,081 shares, compared to its average volume of 11,685,857. Fastly, Inc. has a twelve month low of $6.29 and a twelve month high of $34.82. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a market cap of $2.78 billion, a PE ratio of -18.50 and a beta of 0.49. The firm’s 50 day moving average is $24.32 and its two-hundred day moving average is $16.86.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. DA Davidson set a $13.00 price objective on Fastly in a report on Thursday, February 12th. Citigroup boosted their price objective on Fastly from $13.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Raymond James Financial upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price objective on the stock in a report on Friday, May 8th. KeyCorp boosted their price objective on Fastly from $14.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Piper Sandler cut their price objective on Fastly to $27.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Fastly presently has a consensus rating of “Hold” and a consensus price target of $22.63.

Institutional Investors Weigh In On Fastly

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in shares of Fastly by 84.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock valued at $40,000 after buying an additional 633 shares in the last quarter. Sound Income Strategies LLC bought a new stake in shares of Fastly in the 1st quarter valued at approximately $44,000. EverSource Wealth Advisors LLC grew its stake in shares of Fastly by 39.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company’s stock valued at $64,000 after buying an additional 627 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Fastly in the 4th quarter valued at approximately $41,000. Finally, Align Financial LLC bought a new stake in shares of Fastly in the 4th quarter valued at approximately $41,000. Institutional investors own 79.71% of the company’s stock.

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.