Insider Selling: Christopher B. Paisley Sells 10,000 Shares of Fortinet Stock (FTNT)
Fortinet (NASDAQ:FTNT) Director Christopher B. Paisley sold 10,000 shares of Fortinet stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $24.27, for a total value of $242,700.00. Following the transaction, the director now directly owns 2,187 shares of the company’s stock, valued at approximately $53,078. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Nomura reiterated a “buy” rating on shares of Fortinet in a research note on Thursday, July 24th. They now have a $30.00 price target on the stock, up previously from $27.00. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of Fortinet in a research note on Thursday, July 24th. They now have a $29.00 price target on the stock, up previously from $25.00. Finally, analysts at JMP Securities reiterated a “market outperform” rating on shares of Fortinet in a research note on Thursday, July 24th. They now have a $30.00 price target on the stock, up previously from $26.00. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $27.25.
Fortinet (NASDAQ:FTNT) traded up 0.95% on Monday, hitting $24.41. 1,166,551 shares of the company’s stock traded hands. Fortinet has a 1-year low of $16.29 and a 1-year high of $26.23. The stock’s 50-day moving average is $24.50 and its 200-day moving average is $22.69. The company has a market cap of $3.983 billion and a P/E ratio of 109.91.
Fortinet (NASDAQ:FTNT) last released its earnings data on Wednesday, July 23rd. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.10 by $0.01. The company had revenue of $184.10 million for the quarter, compared to the consensus estimate of $171.58 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 24.9% on a year-over-year basis. Analysts expect that Fortinet will post $0.48 EPS for the current fiscal year.
Fortinet, Inc (NASDAQ:FTNT) provides network security solutions.
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