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Fastly, Inc. (NYSE:FSLY), a content delivery network company currently valued at $1.03 billion, has seen its Chief Technology Officer Artur Bergman recently execute significant stock sales, according to a filing with the Securities and Exchange Commission. The stock, which has declined nearly 46% over the past year, is currently trading at $7.26, though InvestingPro analysis suggests it may be undervalued. On February 19, Bergman sold 12,821 shares of the company’s Class A common stock at an average price of $8.04, totaling approximately $103,080. The following day, February 20, he sold an additional 23,062 shares at an average price of $7.78, amounting to about $179,422. These transactions were conducted under a pre-established trading plan. According to InvestingPro data, Fastly maintains healthy liquidity with a current ratio of 4.21 and operates with a moderate debt level. For deeper insights, including 6 additional ProTips and comprehensive financial analysis, check out the Pro Research Report available on InvestingPro.
Following these sales, Bergman retains direct ownership of 3,350,950 shares. Additionally, he holds indirect ownership through various trusts, including The Per Artur Bergman Revocable Trust and several grantor retained annuity trusts, bringing his total indirect holdings to over 3.5 million shares. These sales were part of a plan to satisfy tax obligations related to the vesting of previously granted restricted stock units and were conducted under a Rule 10b5-1 trading plan.
In other recent news, Fastly Inc . reported its fourth-quarter 2024 earnings, revealing a revenue of $140.6 million, which exceeded expectations of $138.29 million, marking a 2% year-over-year growth. However, the company faced a larger-than-expected loss per share of $0.03, missing the forecasted loss of $0.0034. Analysts from DA Davidson, Citi, and Piper Sandler maintained a Neutral rating on Fastly, with price targets set at $7.50, $9, and $9, respectively, reflecting a cautious outlook. Citi noted Fastly’s modest revenue growth, primarily driven by performance outside its top 10 customers, and highlighted a resurgence in its remaining performance obligations. DA Davidson pointed out the minimal benefits from the shutdown of competitor Edgio and the conservative revenue projections related to TikTok. Piper Sandler emphasized Fastly’s plans to increase sales and marketing expenditures, which are expected to reduce margins in 2025. The company’s guidance for 2025 suggests moderate revenue growth, with a focus on expanding product and security offerings and an emphasis on international investments.
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