Insider Selling: Fastly (NYSE:FSLY) CTO Sells $321,465.14 in Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 18,338 shares of Fastly stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $17.53, for a total value of $321,465.14. Following the sale, the chief technology officer directly owned 1,882,413 shares in the company, valued at $32,998,699.89. The trade was a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• 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 shares were 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 stock was sold at an average price of $10.40, for a total transaction 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.
• On Tuesday, January 20th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $8.18, for a total transaction of $163,600.00.
• On Monday, January 12th, Artur Bergman sold 20,000 shares of Fastly stock. The shares were sold at an average price of $9.35, for a total transaction of $187,000.00.
• On Monday, January 5th, Artur Bergman sold 40,000 shares of Fastly stock. The stock was sold at an average price of $10.27, for a total transaction of $410,800.00.

Fastly Stock Performance

NYSE:FSLY opened at $18.08 on Monday. The stock has a market capitalization of $2.70 billion, a P/E ratio of -18.83 and a beta of 1.03. 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 1 year low of $4.65 and a 1 year high of $20.27. The firm has a 50 day moving average of $10.79 and a 200-day moving average of $9.58.

Institutional Trading of Fastly

Institutional investors have recently bought and sold shares of the business. Align Financial LLC acquired a new position in shares of Fastly in the 4th quarter valued at $41,000. Byrne Asset Management LLC bought a new stake in Fastly in the third quarter valued at about $43,000. C M Bidwell & Associates Ltd. bought a new position in Fastly during the fourth quarter worth about $54,000. Quarry LP bought a new position in Fastly during the third quarter worth about $49,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Fastly in the 3rd quarter valued at about $56,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FSLY. Piper Sandler reaffirmed a “neutral” rating and issued a $14.00 price target (up from $11.00) on shares of Fastly in a report on Thursday, February 12th. Royal Bank Of Canada boosted their target price on shares of Fastly from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 12th. KeyCorp raised shares of Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 price target on the stock in a research note on Monday, December 15th. Oppenheimer assumed coverage on shares of Fastly in a research report on Monday, November 17th. They issued a “market perform” rating for the company. Finally, DA Davidson set a $13.00 price objective on Fastly in a research report on Thursday, February 12th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.00.

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.