Fortinet Inc (NASDAQ:FTNT) insider Keith Jensen sold 624 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $40.73, for a total value of $25,415.52. Following the completion of the transaction, the insider now owns 978 shares in the company, valued at approximately $39,833.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Keith Jensen also recently made the following trade(s):

  • On Wednesday, May 10th, Keith Jensen sold 1,850 shares of Fortinet stock. The stock was sold at an average price of $39.42, for a total value of $72,927.00.
  • On Tuesday, February 21st, Keith Jensen sold 3,482 shares of Fortinet stock. The stock was sold at an average price of $37.41, for a total value of $130,261.62.

Fortinet Inc (NASDAQ:FTNT) traded up 0.30% during mid-day trading on Thursday, reaching $39.67. The company’s stock had a trading volume of 1,421,077 shares. The firm has a market cap of $6.97 billion, a PE ratio of 172.48 and a beta of 1.28. The company has a 50-day moving average price of $38.87 and a 200-day moving average price of $34.73. Fortinet Inc has a 12-month low of $28.50 and a 12-month high of $41.33.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Thursday, April 27th. The software maker reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The company had revenue of $340.60 million during the quarter, compared to the consensus estimate of $334.44 million. Fortinet had a net margin of 2.09% and a return on equity of 4.74%. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 earnings per share. On average, equities research analysts expect that Fortinet Inc will post $0.91 earnings per share for the current year.

Insider Buying and Selling by Quarter for Fortinet (NASDAQ:FTNT)

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Several brokerages have recently commented on FTNT. Oppenheimer Holdings Inc. reissued a “market perform” rating and issued a $42.00 price objective (up from $40.00) on shares of Fortinet in a research note on Monday, February 6th. Robert W. Baird reissued a “neutral” rating and issued a $38.00 price objective (up from $34.00) on shares of Fortinet in a research note on Friday, February 3rd. Zacks Investment Research raised Fortinet from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Wednesday, May 3rd. Royal Bank of Canada increased their price objective on Fortinet from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, April 28th. Finally, JMP Securities increased their price objective on Fortinet from $34.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Five analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Fortinet presently has an average rating of “Buy” and a consensus price target of $40.86.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bluestein R H & Co. increased its position in Fortinet by 0.6% in the fourth quarter. Bluestein R H & Co. now owns 10,060 shares of the software maker’s stock worth $303,000 after buying an additional 60 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Fortinet by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,776 shares of the software maker’s stock worth $656,000 after buying an additional 65 shares in the last quarter. LS Investment Advisors LLC increased its position in Fortinet by 0.7% in the first quarter. LS Investment Advisors LLC now owns 13,415 shares of the software maker’s stock worth $514,000 after buying an additional 96 shares in the last quarter. Advantus Capital Management Inc increased its position in Fortinet by 1.1% in the third quarter. Advantus Capital Management Inc now owns 17,865 shares of the software maker’s stock worth $660,000 after buying an additional 193 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Fortinet by 1.2% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 17,000 shares of the software maker’s stock worth $653,000 after buying an additional 200 shares in the last quarter. Institutional investors own 68.18% of the company’s stock.

Fortinet Company Profile

Fortinet, Inc is a network security company. The Company provides cyber security solutions to a range of enterprises, service providers and government organizations across the world. Its network security solution consists of FortiGate physical, virtual machine and cloud platforms, which provide integrated security and networking functions to protect data, applications and users from network-and content-level security threats.

5 Day Chart for NASDAQ:FTNT

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