Fastly (NYSE:FSLY) CTO Artur Bergman Sells 7,889 Shares

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 7,889 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $20.96, for a total value of $165,353.44. Following the sale, the chief technology officer owned 2,038,638 shares in the company, valued at approximately $42,729,852.48. This represents a 0.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 Friday, May 29th, Artur Bergman sold 6,225 shares of Fastly stock. The stock was sold at an average price of $16.96, for a total value of $105,576.00.
• On Thursday, May 28th, Artur Bergman sold 1,077 shares of Fastly stock. The stock was sold at an average price of $17.02, for a total value of $18,330.54.
• On Wednesday, May 27th, Artur Bergman sold 852 shares of Fastly stock. The stock was sold at an average price of $17.50, for a total value of $14,910.00.
• On Tuesday, May 19th, Artur Bergman sold 31,848 shares of Fastly stock. The stock was sold at an average price of $16.41, for a total value 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 value 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 value 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 value of $842,800.00.

Fastly Stock Down 9.2%

FSLY opened at $18.07 on Friday. Fastly, Inc. has a 1-year low of $6.29 and a 1-year high of $34.82. The stock’s fifty day simple moving average is $23.34 and its 200 day simple moving average is $17.14. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a market cap of $2.83 billion, a PE ratio of -18.82 and a beta of 0.37.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in Fastly by 120.0% in the 1st quarter. Bank of America Corp DE now owns 1,269,369 shares of the company’s stock valued at $36,888,000 after buying an additional 692,459 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Fastly by 26.2% in the 1st quarter. Janus Henderson Group PLC now owns 67,050 shares of the company’s stock valued at $1,948,000 after buying an additional 13,900 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in Fastly by 10.0% in the 1st quarter. Sunbelt Securities Inc. now owns 77,944 shares of the company’s stock valued at $2,265,000 after buying an additional 7,076 shares in the last quarter. Amundi grew its holdings in Fastly by 4.6% in the 1st quarter. Amundi now owns 48,441 shares of the company’s stock valued at $1,408,000 after buying an additional 2,129 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in 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. 79.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. DA Davidson set a $13.00 price target on Fastly in a research note on Thursday, February 12th. KeyCorp increased their price target on Fastly from $14.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. William Blair upgraded Fastly from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 12th. Evercore initiated coverage on Fastly in a research note on Tuesday, April 14th. They issued an “outperform” rating and a $24.00 price target on the stock. Finally, Piper Sandler decreased 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.63.

About Fastly

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.