Insider Selling: Fastly, Inc. (NYSE:FSLY) CTO Sells $118,538.44 in Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 19,889 shares of Fastly stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total transaction of $118,538.44. Following the completion of the transaction, the chief technology officer now owns 6,205,000 shares in the company, valued at approximately $36,981,800. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, August 19th, Artur Bergman sold 1,091 shares of Fastly stock. The stock was sold at an average price of $6.46, for a total transaction of $7,047.86.
• On Friday, August 16th, Artur Bergman sold 16,748 shares of Fastly stock. The stock was sold at an average price of $6.18, for a total transaction of $103,502.64.

Fastly Trading Down 4.4 %

NYSE:FSLY opened at $5.65 on Friday. Fastly, Inc. has a one year low of $5.52 and a one year high of $25.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.13 and a quick ratio of 4.13. The company’s 50-day simple moving average is $6.94 and its 200 day simple moving average is $9.48. The firm has a market capitalization of $772.00 million, a P/E ratio of -5.65 and a beta of 1.20.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. Fastly had a negative net margin of 31.02% and a negative return on equity of 15.22%. The business had revenue of $132.37 million for the quarter, compared to analyst estimates of $131.62 million. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. Fastly’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, analysts forecast that Fastly, Inc. will post -0.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Raymond James cut their price target on shares of Fastly from $13.00 to $8.00 and set a “strong-buy” rating on the stock in a report on Thursday, August 8th. Piper Sandler lowered shares of Fastly from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $10.00 to $6.00 in a report on Thursday, August 8th. Morgan Stanley cut their price target on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 27th. Finally, Craig Hallum cut their target price on shares of Fastly from $10.00 to $6.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Fastly has a consensus rating of “Hold” and an average price target of $7.81.

Institutional Investors Weigh In On Fastly

Hedge funds have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co boosted its stake in Fastly by 94.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock worth $12,453,000 after acquiring an additional 466,560 shares in the last quarter. Vanguard Group Inc. raised its holdings in Fastly by 5.1% in the first quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after buying an additional 657,334 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Fastly by 9.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,906,860 shares of the company’s stock worth $33,942,000 after buying an additional 162,659 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in Fastly by 52.1% in the first quarter. Oppenheimer & Co. Inc. now owns 51,212 shares of the company’s stock worth $664,000 after buying an additional 17,536 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in Fastly in the fourth quarter worth about $2,933,000. Institutional investors own 79.71% of the company’s stock.

About Fastly

Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the internet.