Key Points
- Fastly CTO Artur Bergman sold 852 shares on Wednesday at an average price of $17.50, totaling $14,910. After the sale, he still held about 2.05 million shares valued at roughly $35.94 million.
- The trade was part of a pre-arranged Rule 10b5-1 plan, and Bergman has also made several other recent Fastly stock sales, including much larger transactions in March and May.
- Fastly shares were up 4.8% and opened at $17.76, while analysts currently maintain a mixed but mostly cautious stance, with a consensus rating of “Hold” and an average price target of $22.63.
Fastly, Inc. (NYSE:FSLY - Get Free Report) CTO Artur Bergman sold 852 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $17.50, for a total transaction of $14,910.00. Following the completion of the transaction, the chief technology officer owned 2,053,829 shares in the company, valued at approximately $35,942,007.50. This trade represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Artur Bergman also recently made the following trade(s):
- On Thursday, May 28th, Artur Bergman sold 1,077 shares of Fastly stock. The stock was sold at an average price of $17.02, for a total transaction of $18,330.54.
- 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 Trading Up 4.8%
Shares of FSLY stock opened at $17.76 on Friday. The firm has a market cap of $2.78 billion, a P/E ratio of -18.50 and a beta of 0.49. Fastly, Inc. has a 1-year low of $6.29 and a 1-year 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 firm's 50-day simple moving average is $24.13 and its 200-day simple moving average is $16.86.
Institutional Trading of Fastly
Several large investors have recently bought and sold shares of FSLY. Penserra Capital Management LLC acquired a new stake in Fastly in the third quarter valued at approximately $61,864,000. Alyeska Investment Group L.P. grew its position in Fastly by 2,795.2% in the fourth quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company's stock valued at $48,754,000 after acquiring an additional 4,623,767 shares in the last quarter. First Trust Advisors LP grew its position in Fastly by 100.5% in the first quarter. First Trust Advisors LP now owns 7,031,952 shares of the company's stock valued at $204,349,000 after acquiring an additional 3,524,763 shares in the last quarter. Divisadero Street Capital Management LP acquired a new stake in Fastly in the third quarter valued at approximately $21,174,000. Finally, Balyasny Asset Management L.P. grew its position in Fastly by 3,941.1% in the second quarter. Balyasny Asset Management L.P. now owns 1,329,006 shares of the company's stock valued at $9,383,000 after acquiring an additional 1,296,119 shares in the last quarter. Institutional investors and hedge funds own 79.71% of the company's stock.
Analyst Upgrades and Downgrades
FSLY has been the topic of several research reports. Evercore initiated coverage on shares of Fastly in a report on Tuesday, April 14th. They issued an "outperform" rating and a $24.00 price target on the stock. Piper Sandler cut their price target on shares of Fastly to $27.00 and set a "neutral" rating on the stock in a report on Thursday, May 7th. William Blair upgraded shares of Fastly from a "market perform" rating to an "outperform" rating in a report on Thursday, February 12th. Raymond James Financial upgraded shares of Fastly from a "market perform" rating to an "outperform" rating and set a $23.00 price target on the stock in a report on Friday, May 8th. Finally, KeyCorp raised their price target on shares of Fastly from $14.00 to $27.00 and gave the company an "overweight" rating in a 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $22.63.
Read Our Latest Analysis on Fastly
Fastly Company Profile
(
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.
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