Key Points
- CTO Artur Bergman sold 265,000 shares of Fastly on March 10 at an average price of $22.79 for about $6.04 million, reducing his stake by 14.17% to 1,604,901 shares worth roughly $36.6 million.
- That sale is part of a larger insider selling spree — Bergman sold approximately 809,509 shares across transactions from Feb. 17–Mar. 10, totaling about $16.9 million.
- Fastly shares are trading near recent highs (opened at $24.05, 52-week high $25.22) while analysts' consensus is a "Hold" with an average price target of $13.14.
Fastly, Inc. (NYSE:FSLY - Get Free Report) CTO Artur Bergman sold 40,000 shares of Fastly stock in a transaction on Monday, March 9th. The stock was sold at an average price of $21.07, for a total transaction of $842,800.00. Following the completion of the transaction, the chief technology officer directly owned 1,869,901 shares of the company's stock, valued at approximately $39,398,814.07. This represents a 2.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Artur Bergman also recently made the following trade(s):
- 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 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 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 shares were sold at an average price of $21.06, for a total value 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 value 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 value of $683,200.00.
- On Thursday, February 19th, Artur Bergman sold 34,576 shares of Fastly stock. The stock was sold at an average price of $20.10, for a total value of $694,977.60.
- On Thursday, February 19th, Artur Bergman sold 39,881 shares of Fastly stock. The stock was sold at an average price of $18.89, for a total value of $753,352.09.
- On Wednesday, February 18th, Artur Bergman sold 18,338 shares of Fastly stock. The stock was sold at an average price of $17.53, for a total value of $321,465.14.
- On Tuesday, February 17th, Artur Bergman sold 40,000 shares of Fastly stock. The shares were sold at an average price of $17.53, for a total value of $701,200.00.
Fastly Stock Performance
Shares of FSLY traded down $0.06 during midday trading on Thursday, hitting $23.99. 566,389 shares of the stock traded hands, compared to its average volume of 11,190,273. Fastly, Inc. has a 1-year low of $4.65 and a 1-year high of $25.22. The firm has a market capitalization of $3.64 billion, a PE ratio of -24.67 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The business's 50 day moving average price is $13.35 and its two-hundred day moving average price is $10.74.
Institutional Investors Weigh In On Fastly
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FSLY. Kestra Advisory Services LLC boosted its stake in Fastly by 8.4% during the 4th quarter. Kestra Advisory Services LLC now owns 11,970 shares of the company's stock valued at $122,000 after purchasing an additional 930 shares in the last quarter. Arizona State Retirement System boosted its stake in Fastly by 3.2% during the third quarter. Arizona State Retirement System now owns 40,705 shares of the company's stock valued at $348,000 after buying an additional 1,253 shares in the last quarter. Parallax Volatility Advisers L.P. boosted its stake in Fastly by 13.8% during the third quarter. Parallax Volatility Advisers L.P. now owns 12,095 shares of the company's stock valued at $103,000 after buying an additional 1,465 shares in the last quarter. ProShare Advisors LLC grew its holdings in Fastly by 10.1% during the fourth quarter. ProShare Advisors LLC now owns 26,553 shares of the company's stock worth $270,000 after acquiring an additional 2,435 shares during the period. Finally, 180 Wealth Advisors LLC raised its position in Fastly by 3.7% in the fourth quarter. 180 Wealth Advisors LLC now owns 79,221 shares of the company's stock worth $806,000 after acquiring an additional 2,860 shares in the last quarter. Institutional investors own 79.71% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. Citigroup upped their target price on shares of Fastly from $10.00 to $13.00 and gave the stock a "neutral" rating in a research report on Friday, February 13th. Oppenheimer started coverage on Fastly in a research report on Monday, November 17th. They set a "market perform" rating for the company. William Blair upgraded Fastly from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 12th. Royal Bank Of Canada lifted their target price on Fastly from $12.00 to $20.00 and gave the company a "sector perform" rating in a research note on Monday, March 2nd. Finally, KeyCorp raised Fastly from a "sector weight" rating to an "overweight" rating and set a $14.00 price target for the company in a research note on Monday, December 15th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $13.14.
Get Our Latest Stock Analysis on FSLY
About Fastly
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
