Fastly, Inc. (NYSE:FSLY) CTO Sells $396,866.46 in Stock

Fastly, Inc. (NYSE:FSLY - Get Free Report) CTO Artur Bergman sold 49,178 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $8.07, for a total value of $396,866.46. Following the completion of the transaction, the chief technology officer now directly owns 6,155,822 shares of the company's stock, valued at approximately $49,677,483.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, September 3rd, Artur Bergman sold 19,889 shares of Fastly stock. The shares were sold at an average price of $5.96, for a total transaction of $118,538.44.
• 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 value of $7,047.86.
• On Friday, August 16th, Artur Bergman sold 16,748 shares of Fastly stock. The shares were sold at an average price of $6.18, for a total value of $103,502.64.

Fastly Trading Down 6.1 %

Shares of NYSE:FSLY traded down $0.50 during mid-day trading on Friday, hitting $7.67. The company had a trading volume of 4,691,265 shares, compared to its average volume of 2,557,700. The firm has a fifty day moving average price of $7.09 and a 200 day moving average price of $7.61. Fastly, Inc. has a one year low of $5.52 and a one year high of $25.87. The company has a market capitalization of $1.06 billion, a PE ratio of -7.04 and a beta of 1.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.13 and a quick ratio of 4.13.

Fastly (NYSE:FSLY - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.19%. The business had revenue of $132.37 million for the quarter, compared to analysts' expectations of $131.62 million. During the same period in the previous year, the company earned ($0.32) earnings per share. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, research analysts forecast that Fastly, Inc. will post -0.96 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on FSLY. DA Davidson upped their price objective on Fastly from $5.50 to $7.50 and gave the stock a "neutral" rating in a research report on Thursday. Morgan Stanley reduced their price target on shares of Fastly from $12.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 27th. Craig Hallum upped their price objective on shares of Fastly from $6.00 to $8.00 and gave the stock a "hold" rating in a research report on Thursday. Piper Sandler increased their price objective on shares of Fastly from $6.00 to $8.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Robert W. Baird boosted their target price on shares of Fastly from $7.00 to $8.00 and gave the stock a "neutral" rating in a research note on Thursday. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $7.94.

Institutional Trading of Fastly

A number of hedge funds have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Fastly by 94.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company's stock worth $12,453,000 after buying an additional 466,560 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Fastly by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company's stock worth $176,152,000 after purchasing an additional 657,334 shares during the period. Oppenheimer & Co. Inc. lifted its stake in Fastly by 52.1% in the first quarter. Oppenheimer & Co. Inc. now owns 51,212 shares of the company's stock valued at $664,000 after purchasing an additional 17,536 shares during the last quarter. Qsemble Capital Management LP purchased a new stake in Fastly in the second quarter worth $586,000. Finally, SG Americas Securities LLC raised its stake in shares of Fastly by 77.5% in the third quarter. SG Americas Securities LLC now owns 221,357 shares of the company's stock valued at $1,676,000 after buying an additional 96,664 shares during the period. 79.71% of the stock is currently owned by institutional investors.

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.