Artur Bergman Sells 31,848 Shares of Fastly (NYSE:FSLY) Stock

Fastly, Inc. (NYSE:FSLY) CTO Artur Bergman sold 31,848 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $16.41, for a total transaction of $522,625.68. Following the sale, the chief technology officer directly owned 2,054,681 shares in the company, valued at approximately $33,717,315.21. The trade was a 1.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, May 18th, Artur Bergman sold 32,181 shares of Fastly stock. The shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $21.06, for a total transaction of $516,643.92.
• On Friday, February 27th, Artur Bergman sold 869 shares of Fastly stock. The shares were sold at an average price of $17.50, for a total transaction of $15,207.50.
• On Monday, February 23rd, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $17.08, for a total transaction of $683,200.00.
• On Thursday, February 19th, Artur Bergman sold 34,576 shares of Fastly stock. The shares were sold at an average price of $20.10, for a total transaction of $694,977.60.
• On Thursday, February 19th, Artur Bergman sold 39,881 shares of Fastly stock. The shares were sold at an average price of $18.89, for a total transaction of $753,352.09.

Fastly Stock Up 4.6%

Shares of Fastly stock traded up $0.76 during trading hours on Wednesday, hitting $17.12. The company had a trading volume of 6,247,769 shares, compared to its average volume of 12,064,143. The company’s 50-day moving average is $25.25 and its two-hundred day moving average is $16.48. Fastly, Inc. has a twelve month low of $6.29 and a twelve month high of $34.82. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market cap of $2.68 billion, a P/E ratio of -17.83 and a beta of 0.49.

Hedge Funds Weigh In On Fastly

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Fastly by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 16,976,906 shares of the company’s stock worth $172,825,000 after purchasing an additional 310,234 shares during the period. Morgan Stanley lifted its holdings in shares of Fastly by 14.7% during the fourth quarter. Morgan Stanley now owns 8,339,234 shares of the company’s stock worth $84,893,000 after purchasing an additional 1,071,222 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of Fastly during the third quarter worth $61,864,000. First Trust Advisors LP lifted its holdings in shares of Fastly by 100.5% during the first quarter. First Trust Advisors LP now owns 7,031,952 shares of the company’s stock worth $204,349,000 after purchasing an additional 3,524,763 shares during the period. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Fastly by 2,795.2% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock worth $48,754,000 after purchasing an additional 4,623,767 shares during the period. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FSLY has been the topic of a number of research reports. Royal Bank Of Canada lowered their target price on shares of Fastly to $18.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 7th. Piper Sandler lowered their target price on shares of Fastly to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. KeyCorp raised their target price 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 target price on shares of Fastly in a research report on Thursday, February 12th. Finally, Citigroup raised their target price on shares of Fastly from $13.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Fastly currently has an average rating of “Hold” and a consensus target price of $22.63.

Fastly Company Profile

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.