Insider Selling: Fastly (NYSE:FSLY) CTO Sells $18,330.54 in Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 1,077 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $17.02, for a total transaction of $18,330.54. Following the completion of the transaction, the chief technology officer owned 2,052,752 shares of the company’s stock, valued at approximately $34,937,839.04. This trade represents a 0.05% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 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 transaction 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 transaction of $522,625.68.
• On Monday, May 18th, Artur Bergman sold 32,181 shares of Fastly stock. The stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $21.06, for a total transaction of $516,643.92.

Fastly Stock Down 0.1%

FSLY opened at $17.76 on Monday. Fastly, Inc. has a twelve month low of $6.29 and a twelve month high of $34.82. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $24.13 and a 200 day moving average price of $16.90. The company has a market cap of $2.78 billion, a PE ratio of -18.50 and a beta of 0.49.

Analyst Upgrades and Downgrades

FSLY has been the subject of several research analyst reports. William Blair upgraded shares of Fastly from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 12th. KeyCorp upped their price target on shares of Fastly from $14.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. DA Davidson set a $13.00 price target on shares of Fastly in a research report on Thursday, February 12th. Royal Bank Of Canada reduced their price target on shares of Fastly to $18.00 and set a “sector perform” rating for the company in a research report on Thursday, May 7th. Finally, Piper Sandler reduced their price target on shares of Fastly to $27.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Four equities research 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 currently has an average rating of “Hold” and a consensus target price of $22.63.

Institutional Trading of Fastly

A number of hedge funds have recently bought and sold shares of the business. Bank of America Corp DE raised 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 acquiring an additional 692,459 shares during the last quarter. Janus Henderson Group PLC raised 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 acquiring an additional 13,900 shares during the last quarter. Sunbelt Securities Inc. raised 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 acquiring an additional 7,076 shares during the last quarter. Amundi raised 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 acquiring an additional 2,129 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised 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 acquiring an additional 627 shares during the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

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.