Insider Selling: Fastly (NYSE:FSLY) CTO Sells $170,600.00 in Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 20,000 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $8.53, for a total value of $170,600.00. Following the completion of the sale, the chief technology officer owned 3,441,276 shares in the company, valued at $29,354,084.28. This trade represents a 0.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, September 22nd, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $8.70, for a total value of $174,000.00.
• On Monday, September 15th, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $8.56, for a total value of $171,200.00.
• On Monday, September 8th, Artur Bergman sold 20,000 shares of Fastly stock. The stock was sold at an average price of $7.45, for a total value of $149,000.00.
• On Tuesday, September 2nd, Artur Bergman sold 58,138 shares of Fastly stock. The stock was sold at an average price of $7.41, for a total value of $430,802.58.
• On Wednesday, August 27th, Artur Bergman sold 849 shares of Fastly stock. The stock was sold at an average price of $7.30, for a total value of $6,197.70.
• On Tuesday, August 19th, Artur Bergman sold 19,353 shares of Fastly stock. The stock was sold at an average price of $7.33, for a total value of $141,857.49.
• On Monday, August 18th, Artur Bergman sold 26,418 shares of Fastly stock. The stock was sold at an average price of $6.88, for a total value of $181,755.84.

Fastly Trading Down 2.7%

Shares of FSLY stock opened at $8.81 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $7.63 and a two-hundred day moving average price of $7.05. Fastly, Inc. has a 12-month low of $4.65 and a 12-month high of $12.08. The firm has a market cap of $1.30 billion, a P/E ratio of -8.55 and a beta of 1.30.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. Fastly had a negative return on equity of 11.98% and a negative net margin of 25.85%.The firm had revenue of $148.71 million during the quarter, compared to analyst estimates of $144.86 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. The company’s revenue was up 12.3% compared to the same quarter last year. Equities analysts anticipate that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Analyst Ratings Changes

FSLY has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fastly in a report on Saturday, September 27th. Craig Hallum upgraded Fastly from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Thursday, August 7th. Finally, Royal Bank Of Canada lifted their price objective on Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.69.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Corient Private Wealth LLC purchased a new position in Fastly during the 2nd quarter valued at about $265,000. Osaic Holdings Inc. boosted its position in Fastly by 571.2% during the 2nd quarter. Osaic Holdings Inc. now owns 60,646 shares of the company’s stock valued at $428,000 after acquiring an additional 51,611 shares in the last quarter. Cim Investment Management Inc. boosted its position in Fastly by 100.7% during the 2nd quarter. Cim Investment Management Inc. now owns 38,304 shares of the company’s stock valued at $270,000 after acquiring an additional 19,223 shares in the last quarter. State of Wyoming bought a new stake in Fastly during the 2nd quarter valued at approximately $373,000. Finally, Caxton Associates LLP boosted its position in Fastly by 65.8% during the 2nd quarter. Caxton Associates LLP now owns 209,633 shares of the company’s stock valued at $1,480,000 after acquiring an additional 83,198 shares in the last quarter. Hedge funds and other 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.