Key Points
- Fastly CTO Artur Bergman sold 7,889 shares on June 3 at an average price of $20.96, for proceeds of about $165,353. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Bergman still held about 2.04 million shares of Fastly, valued at roughly $42.7 million. The sale reduced his ownership by only 0.39%.
- Fastly has seen multiple insider sales by Bergman in recent months, while analysts currently rate the stock a consensus “Hold” with an average price target of $22.63.
Fastly, Inc. (NYSE:FSLY - Get Free Report) CTO Artur Bergman sold 7,889 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $20.96, for a total value of $165,353.44. Following the sale, the chief technology officer directly owned 2,038,638 shares in the company, valued at approximately $42,729,852.48. This trade represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 Friday, May 29th, Artur Bergman sold 6,225 shares of Fastly stock. The stock was sold at an average price of $16.96, for a total value of $105,576.00.
- 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 value of $18,330.54.
- 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 value 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 value 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 value 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 value 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 value of $842,800.00.
Fastly Stock Performance
FSLY opened at $18.07 on Friday. The firm has a market cap of $2.83 billion, a P/E ratio of -18.82 and a beta of 0.37. Fastly, Inc. has a 52-week low of $6.29 and a 52-week high of $34.82. 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 fifty day moving average is $23.34 and its 200-day moving average is $17.14.
Analysts Set New Price Targets
Several analysts have recently issued reports on the company. William Blair raised Fastly from a "market perform" rating to an "outperform" rating in a report on Thursday, February 12th. KeyCorp upped their price objective on Fastly from $14.00 to $27.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Royal Bank Of Canada dropped their price objective on Fastly to $18.00 and set a "sector perform" rating for the company in a research report on Thursday, May 7th. Piper Sandler dropped their price objective on Fastly to $27.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. Finally, Raymond James Financial upgraded Fastly from a "market perform" rating to an "outperform" rating and set a $23.00 price objective for the company in a research report on Friday, May 8th. Four equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $22.63.
Check Out Our Latest Analysis on Fastly
Hedge Funds Weigh In On Fastly
Several large investors have recently bought and sold shares of FSLY. PNC Financial Services Group Inc. raised its position in Fastly by 84.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company's stock valued at $40,000 after purchasing an additional 633 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Fastly in the fourth quarter valued at about $41,000. Align Financial LLC bought a new position in Fastly in the fourth quarter valued at about $41,000. Sound Income Strategies LLC bought a new position in Fastly in the first quarter valued at about $44,000. Finally, Quarry LP bought a new position in Fastly in the third quarter valued at about $49,000. 79.71% of the stock is currently owned by institutional investors.
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.
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