Fortinet, Inc. (NASDAQ:FTNT) CAO Keith Jensen sold 1,300 shares of the company’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $37.97, for a total value of $49,361.00. Following the completion of the transaction, the chief accounting officer now owns 2,545 shares in the company, valued at approximately $96,633.65. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Keith Jensen also recently made the following trade(s):
Fortinet, Inc. (NASDAQ:FTNT) traded down 0.90% during trading on Wednesday, reaching $37.42. The company had a trading volume of 2,624,541 shares. The firm’s 50 day moving average price is $32.25 and its 200 day moving average price is $33.03. The firm has a market capitalization of $6.49 billion, a PE ratio of 207.89 and a beta of 1.28. Fortinet, Inc. has a 12-month low of $23.16 and a 12-month high of $38.33.
Fortinet (NASDAQ:FTNT) last released its earnings results on Thursday, February 2nd. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. The firm earned $362.80 million during the quarter, compared to the consensus estimate of $344.59 million. Fortinet had a return on equity of 4.74% and a net margin of 2.09%. The company’s revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 EPS. Analysts anticipate that Fortinet, Inc. will post $0.88 earnings per share for the current year.
Several equities research analysts recently commented on the company. Zacks Investment Research raised Fortinet from a “hold” rating to a “strong-buy” rating and set a $43.00 price target for the company in a research note on Tuesday. TheStreet raised Fortinet from a “c” rating to a “b-” rating in a research note on Thursday, February 2nd. Oppenheimer Holdings, Inc. reissued a “market perform” rating and issued a $42.00 price target (up previously from $40.00) on shares of Fortinet in a research note on Monday. Goldman Sachs Group, Inc. (The) lowered their price target on Fortinet from $43.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, October 12th. Finally, Barclays PLC lowered their price target on Fortinet from $42.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, October 12th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $37.83.
Hedge funds have recently added to or reduced their stakes in the stock. Cipher Capital LP bought a new stake in Fortinet during the fourth quarter worth $990,000. Comerica Bank increased its stake in Fortinet by 7.4% in the fourth quarter. Comerica Bank now owns 110,918 shares of the company’s stock worth $3,581,000 after buying an additional 7,683 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in Fortinet by 136.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 14,192 shares of the company’s stock worth $427,000 after buying an additional 8,192 shares during the last quarter. Radnor Capital Management LLC bought a new stake in Fortinet during the fourth quarter worth $316,000. Finally, Massey Quick & Co. LLC bought a new stake in Fortinet during the fourth quarter worth $247,000. Hedge funds and other institutional investors own 71.48% of the company’s stock.
Fortinet Company Profile
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.