Keith Jensen Sells 2,499 Shares of Fortinet Inc (FTNT) Stock

Fortinet Inc (NASDAQ:FTNT) CFO Keith Jensen sold 2,499 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $82.02, for a total value of $204,967.98. Following the transaction, the chief financial officer now owns 3,207 shares of the company’s stock, valued at $263,038.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Tuesday, May 14th, Keith Jensen sold 1,850 shares of Fortinet stock. The stock was sold at an average price of $81.17, for a total value of $150,164.50.
  • On Thursday, May 16th, Keith Jensen sold 3,723 shares of Fortinet stock. The stock was sold at an average price of $81.75, for a total value of $304,355.25.
  • On Tuesday, February 26th, Keith Jensen sold 10,000 shares of Fortinet stock. The stock was sold at an average price of $86.84, for a total value of $868,400.00.
  • On Thursday, February 28th, Keith Jensen sold 11,251 shares of Fortinet stock. The stock was sold at an average price of $86.95, for a total value of $978,274.45.

Shares of NASDAQ FTNT traded up $0.25 during trading on Friday, hitting $77.74. The company had a trading volume of 1,457,896 shares, compared to its average volume of 1,847,144. The stock has a market capitalization of $13.42 billion, a P/E ratio of 68.80, a P/E/G ratio of 4.19 and a beta of 0.93. Fortinet Inc has a 52 week low of $59.81 and a 52 week high of $96.96.



Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Thursday, May 2nd. The software maker reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.26. The company had revenue of $472.60 million for the quarter, compared to analysts’ expectations of $471.90 million. Fortinet had a return on equity of 22.52% and a net margin of 18.64%. The firm’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 earnings per share. On average, sell-side analysts predict that Fortinet Inc will post 1.31 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of FTNT. Signaturefd LLC raised its stake in Fortinet by 10.7% during the 1st quarter. Signaturefd LLC now owns 1,288 shares of the software maker’s stock valued at $108,000 after purchasing an additional 125 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its stake in Fortinet by 1.6% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,549 shares of the software maker’s stock valued at $672,000 after purchasing an additional 150 shares during the period. Fort L.P. raised its stake in Fortinet by 10.4% during the 1st quarter. Fort L.P. now owns 1,673 shares of the software maker’s stock valued at $140,000 after purchasing an additional 157 shares during the period. Sheets Smith Wealth Management raised its stake in Fortinet by 2.7% during the 1st quarter. Sheets Smith Wealth Management now owns 7,004 shares of the software maker’s stock valued at $588,000 after purchasing an additional 184 shares during the period. Finally, Reliance Trust Co. of Delaware raised its stake in Fortinet by 4.8% during the 4th quarter. Reliance Trust Co. of Delaware now owns 4,358 shares of the software maker’s stock valued at $307,000 after purchasing an additional 200 shares during the period. 72.96% of the stock is currently owned by institutional investors.

A number of research firms have weighed in on FTNT. Mizuho began coverage on Fortinet in a research report on Tuesday, March 26th. They issued a “neutral” rating and a $90.00 target price for the company. Zacks Investment Research upgraded Fortinet from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Tuesday, January 29th. BMO Capital Markets restated a “market perform” rating and issued a $90.00 target price (up from $78.00) on shares of Fortinet in a research report on Thursday, February 7th. Monness Crespi & Hardt restated a “buy” rating and issued a $97.00 target price (up from $95.00) on shares of Fortinet in a research report on Friday, May 3rd. Finally, BidaskClub upgraded Fortinet from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $85.13.

TRADEMARK VIOLATION NOTICE: This story was posted by Dakota Financial News and is the sole property of of Dakota Financial News. If you are accessing this story on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The legal version of this story can be accessed at https://dakotafinancialnews.com/2019/05/25/keith-jensen-sells-2499-shares-of-fortinet-inc-ftnt-stock.html.

About Fortinet

Fortinet, Inc provides broad, integrated, and automated cybersecurity solutions worldwide. It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, Web filtering, anti-spam, and wide area network acceleration; FortiSandbox technology that delivers proactive detection and mitigation services; and FortiSIEM family of software solutions, which offers a cloud-ready security information and event management solutions.

Read More: What is a Lock-Up Period?

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.