Insider Selling: John Whittle Sells 1,755 Shares of Fortinet Stock (FTNT)
Fortinet (NASDAQ:FTNT) VP John Whittle sold 1,755 shares of Fortinet stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $25.00, for a total value of $43,875.00. Following the completion of the transaction, the vice president now directly owns 1,950 shares in the company, valued at approximately $48,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
FTNT has been the subject of a number of recent research reports. 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 investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Fortinet has an average rating of “Buy” and a consensus price target of $27.25.
Shares of Fortinet (NASDAQ:FTNT) traded up 0.61% on Friday, hitting $24.84. 1,085,117 shares of the company’s stock traded hands. Fortinet has a one year low of $16.29 and a one year high of $26.23. The stock has a 50-day moving average of $24.55 and a 200-day moving average of $22.7. The company has a market cap of $4.068 billion and a P/E ratio of 112.23.
Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. On average, analysts predict that Fortinet will post $0.48 earnings per share for the current fiscal year.
Fortinet, Inc (NASDAQ:FTNT) provides network security solutions.
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