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SAN FRANCISCO—Fastly, Inc. (NYSE:FSLY), a cloud computing services provider with a market capitalization of $1.3 billion, saw its Chief Technology Officer Artur Bergman recently sell a portion of his holdings in the company, according to a Form 4 filing with the Securities and Exchange Commission.
On January 6 and 7, Bergman sold a total of 8,449 shares of Fastly's Class A Common Stock. The shares were sold at prices ranging from $10.00 to $10.04, amounting to a total transaction value of $84,811. Following these transactions, Bergman holds 3,425,687 shares directly. For comprehensive insider trading analysis and additional insights, InvestingPro subscribers can access detailed transaction patterns and executive sentiment indicators.
These sales were executed under a pre-arranged trading plan, as noted in the filing. The filing also disclosed various indirect holdings by Bergman through different trusts, including The Per Artur Bergman Revocable Trust and several Grantor Retained Annuity Trusts, although these were not part of the recent transactions.
Fastly, a cloud computing services provider, continues to be a significant player in the technology sector, and insider transactions such as these are closely monitored by investors for potential insights into executive sentiment regarding the company's stock performance.
In other recent news, Fastly Inc (NYSE:FSLY). has experienced noteworthy developments. Piper Sandler raised Fastly's stock target to $10, citing progress in refinancing and platform unification. The company also received an upgrade from Oppenheimer, from Perform to Outperform, with a new price target of $12, due to the potential revenue gain from the bankruptcy of former competitor, Edgio.
Fastly's recent revenue growth of nearly 11% over the last twelve months has been supported by strategic shifts and operational improvements. Piper Sandler and InvestingPro suggest that the stock is currently undervalued. Fastly's third-quarter earnings for 2024 were recently announced, with CEO Todd Nightingale and CFO Ron Kisling expressing optimism about the company's strategy and long-term growth.
These are among the recent developments for Fastly. The company's offerings in edge compute and security products, driven by emerging artificial intelligence applications, are predicted to contribute to its market growth and performance. Analysts from both Piper Sandler and Oppenheimer maintain a neutral stance on Fastly's stock, acknowledging the potential upside from recent developments.
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