Fortinet Inc (NASDAQ:FTNT) CFO Keith Jensen sold 1,850 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $81.17, for a total value of $150,164.50. Following the transaction, the chief financial officer now directly owns 1,607 shares in the company, valued at $130,440.19. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Keith Jensen also recently made the following trade(s):
- On Thursday, May 16th, Keith Jensen sold 3,723 shares of Fortinet stock. The stock was sold at an average price of $81.75, for a total value of $304,355.25.
- On Tuesday, February 26th, Keith Jensen sold 10,000 shares of Fortinet stock. The stock was sold at an average price of $86.84, for a total value of $868,400.00.
- On Thursday, February 28th, Keith Jensen sold 11,251 shares of Fortinet stock. The stock was sold at an average price of $86.95, for a total value of $978,274.45.
- On Friday, February 15th, Keith Jensen sold 5,278 shares of Fortinet stock. The stock was sold at an average price of $83.16, for a total value of $438,918.48.
NASDAQ FTNT traded down $0.61 on Friday, hitting $82.63. 89,767 shares of the stock traded hands, compared to its average volume of 1,721,617. Fortinet Inc has a 12 month low of $57.76 and a 12 month high of $96.96. The firm has a market cap of $14.04 billion, a price-to-earnings ratio of 73.12, a price-to-earnings-growth ratio of 4.12 and a beta of 0.93.
Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Thursday, May 2nd. The software maker reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.26. Fortinet had a return on equity of 22.52% and a net margin of 18.64%. The business had revenue of $472.60 million during the quarter, compared to analyst estimates of $471.90 million. During the same period in the prior year, the company earned $0.33 earnings per share. Fortinet’s revenue was up 18.4% compared to the same quarter last year. On average, equities research analysts anticipate that Fortinet Inc will post 1.31 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the stock. Cleararc Capital Inc. purchased a new stake in shares of Fortinet in the first quarter worth $204,000. Horizon Investments LLC purchased a new stake in shares of Fortinet in the first quarter worth $215,000. Slow Capital Inc. raised its position in shares of Fortinet by 3.8% in the first quarter. Slow Capital Inc. now owns 35,979 shares of the software maker’s stock worth $3,021,000 after buying an additional 1,319 shares in the last quarter. FMR LLC raised its position in Fortinet by 495.1% during the first quarter. FMR LLC now owns 1,243,818 shares of the software maker’s stock valued at $104,444,000 after purchasing an additional 1,034,818 shares in the last quarter. Finally, Zebra Capital Management LLC purchased a new stake in Fortinet during the first quarter valued at about $402,000. Institutional investors own 70.88% of the company’s stock.
Several analysts have recently commented on FTNT shares. BidaskClub raised Fortinet from a “hold” rating to a “buy” rating in a research note on Wednesday, January 30th. OTR Global downgraded Fortinet to a “positive” rating in a research note on Friday, January 18th. Zacks Investment Research downgraded Fortinet from a “buy” rating to a “hold” rating in a research note on Friday, January 18th. Monness Crespi & Hardt reissued a “buy” rating and issued a $97.00 price objective (up from $95.00) on shares of Fortinet in a research note on Friday, May 3rd. Finally, Mizuho began coverage on Fortinet in a research note on Tuesday, March 26th. They issued a “neutral” rating and a $90.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Fortinet currently has an average rating of “Hold” and a consensus target price of $85.13.
Fortinet, Inc provides broad, integrated, and automated cybersecurity solutions worldwide. It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, Web filtering, anti-spam, and wide area network acceleration; FortiSandbox technology that delivers proactive detection and mitigation services; and FortiSIEM family of software solutions, which offers a cloud-ready security information and event management solutions.
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