Fortinet Inc. (NASDAQ:FTNT) CAO Keith Jensen sold 350 shares of Fortinet stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $31.49, for a total transaction of $11,021.50. Following the sale, the chief accounting officer now owns 1,224 shares of the company’s stock, valued at $38,543.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • On Wednesday, November 9th, Keith Jensen sold 1,300 shares of Fortinet stock. The shares were sold at an average price of $31.34, for a total transaction of $40,742.00.
  • On Tuesday, August 23rd, Keith Jensen sold 900 shares of Fortinet stock. The shares were sold at an average price of $35.47, for a total transaction of $31,923.00.

Shares of Fortinet Inc. (NASDAQ:FTNT) opened at 32.00 on Monday. Fortinet Inc. has a 52-week low of $23.16 and a 52-week high of $37.48. The stock’s 50 day moving average is $32.92 and its 200 day moving average is $33.76. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 1230.77 and a beta of 1.31.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.15 by $0.03. Fortinet had a positive return on equity of 1.36% and a negative net margin of 0.09%. The firm had revenue of $316.60 million for the quarter, compared to analyst estimates of $314.33 million. During the same quarter last year, the firm posted $0.14 earnings per share. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, equities analysts predict that Fortinet Inc. will post $0.64 EPS for the current fiscal year.

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

Large investors have recently modified their holdings of the stock. State Street Corp increased its stake in shares of Fortinet by 1.5% in the first quarter. State Street Corp now owns 4,417,966 shares of the company’s stock worth $135,328,000 after buying an additional 64,030 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Fortinet by 3.2% in the first quarter. UBS Asset Management Americas Inc. now owns 326,952 shares of the company’s stock worth $10,015,000 after buying an additional 10,179 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Fortinet by 4.9% in the first quarter. Geode Capital Management LLC now owns 934,608 shares of the company’s stock worth $28,610,000 after buying an additional 43,232 shares during the last quarter. HBK Investments L P increased its stake in shares of Fortinet by 56.5% in the first quarter. HBK Investments L P now owns 54,900 shares of the company’s stock worth $1,682,000 after buying an additional 19,831 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Fortinet by 112.0% in the first quarter. Renaissance Technologies LLC now owns 1,571,500 shares of the company’s stock worth $48,135,000 after buying an additional 830,400 shares during the last quarter. 71.08% of the stock is currently owned by institutional investors.

FTNT has been the topic of several research reports. Zacks Investment Research downgraded shares of Fortinet from a “hold” rating to a “strong sell” rating in a research note on Monday, July 18th. Citigroup Inc. decreased their price target on shares of Fortinet from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, July 29th. Pacific Crest reissued a “hold” rating on shares of Fortinet in a research note on Friday, July 29th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $45.00 price target (down from $50.00) on shares of Fortinet in a research note on Monday, August 1st. Finally, Wunderlich initiated coverage on shares of Fortinet in a research note on Tuesday, September 13th. They set a “buy” rating and a $45.00 price target on the stock. Thirteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $35.81.

About Fortinet

Fortinet, Inc provides cyber security solutions to enterprises, service providers and government organizations across the world. The Company’s flagship 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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