Fortinet Inc (NASDAQ:FTNT) Director Christopher B. Paisley sold 4,000 shares of Fortinet stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $46.71, for a total transaction of $186,840.00. Following the completion of the transaction, the director now owns 72,937 shares of the company’s stock, valued at approximately $3,406,887.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Fortinet Inc (FTNT) opened at $48.12 on Wednesday. Fortinet Inc has a 12 month low of $35.44 and a 12 month high of $48.16. The company has a market cap of $8,370.00, a P/E ratio of 283.06, a price-to-earnings-growth ratio of 3.77 and a beta of 0.86.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Monday, February 5th. The software maker reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.03. Fortinet had a net margin of 2.10% and a return on equity of 11.77%. The business had revenue of $416.70 million during the quarter, compared to analysts’ expectations of $409.04 million. During the same quarter in the previous year, the company earned $0.30 EPS. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. analysts anticipate that Fortinet Inc will post 0.74 earnings per share for the current year.

Fortinet announced that its Board of Directors has authorized a share buyback program on Thursday, October 26th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the software maker to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Several equities analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Fortinet from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. JPMorgan Chase & Co. downgraded shares of Fortinet from an “overweight” rating to a “neutral” rating and set a $50.00 target price for the company. in a research note on Tuesday, December 12th. Barclays lifted their target price on shares of Fortinet from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Zacks Investment Research upgraded shares of Fortinet from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Tuesday. Finally, Deutsche Bank downgraded shares of Fortinet from a “buy” rating to a “hold” rating and set a $46.00 target price for the company. in a research note on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $47.67.

Several institutional investors and hedge funds have recently made changes to their positions in FTNT. Parametric Portfolio Associates LLC lifted its holdings in shares of Fortinet by 9.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 133,202 shares of the software maker’s stock worth $4,987,000 after acquiring an additional 11,651 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Fortinet by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 259,916 shares of the software maker’s stock worth $9,732,000 after acquiring an additional 4,124 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Fortinet by 3.6% in the 2nd quarter. Royal Bank of Canada now owns 123,289 shares of the software maker’s stock worth $4,616,000 after acquiring an additional 4,247 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Fortinet by 126.6% in the 2nd quarter. Janus Henderson Group PLC now owns 30,465 shares of the software maker’s stock worth $1,141,000 after acquiring an additional 17,018 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Fortinet by 3.0% in the 2nd quarter. State Street Corp now owns 4,581,467 shares of the software maker’s stock worth $171,534,000 after acquiring an additional 132,054 shares during the last quarter. Hedge funds and other institutional investors own 70.68% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another domain, it was stolen and republished in violation of international trademark and copyright laws. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2018/02/14/fortinet-inc-ftnt-director-christopher-b-paisley-sells-4000-shares.html.

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.

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

Receive News & Ratings for Fortinet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortinet and related companies with MarketBeat.com's FREE daily email newsletter.