Fortinet Inc (NASDAQ:FTNT) EVP Sells $255,300.05 in Stock

Fortinet Inc (NASDAQ:FTNT) EVP John Whittle sold 2,465 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $103.57, for a total value of $255,300.05. Following the sale, the executive vice president now owns 9,309 shares in the company, valued at $964,133.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

John Whittle also recently made the following trade(s):

  • On Tuesday, November 12th, John Whittle sold 12,280 shares of Fortinet stock. The stock was sold at an average price of $100.00, for a total value of $1,228,000.00.

Fortinet stock traded up $0.21 during trading on Friday, hitting $103.23. The company’s stock had a trading volume of 67,546 shares, compared to its average volume of 1,732,727. The stock has a market capitalization of $17.97 billion, a price-to-earnings ratio of 91.35, a P/E/G ratio of 4.71 and a beta of 1.08. The stock’s fifty day moving average is $86.11 and its 200 day moving average is $81.41. Fortinet Inc has a 1-year low of $64.41 and a 1-year high of $106.00.

Fortinet (NASDAQ:FTNT) last released its earnings results on Thursday, October 31st. The software maker reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.11. The firm had revenue of $547.50 million during the quarter, compared to analyst estimates of $533.55 million. Fortinet had a return on equity of 25.46% and a net margin of 19.23%. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 earnings per share. Equities research analysts forecast that Fortinet Inc will post 1.59 EPS for the current fiscal year.

A number of research firms have commented on FTNT. Citigroup boosted their target price on Fortinet from $80.00 to $82.00 and gave the stock a “sell” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. set a $111.00 target price on Fortinet and gave the stock a “buy” rating in a research report on Friday, November 1st. Cowen boosted their target price on Fortinet from $88.00 to $105.00 and gave the stock a “market perform” rating in a research report on Tuesday. Monness Crespi & Hardt upped their price objective on Fortinet from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Credit Suisse Group upgraded Fortinet from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $79.00 to $95.00 in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twelve have assigned a buy rating to the stock. Fortinet currently has an average rating of “Hold” and an average target price of $103.92.

A number of institutional investors have recently added to or reduced their stakes in FTNT. Nuveen Asset Management LLC increased its stake in Fortinet by 34,525.2% in the second quarter. Nuveen Asset Management LLC now owns 1,170,333 shares of the software maker’s stock valued at $89,916,000 after purchasing an additional 1,166,953 shares during the last quarter. APG Asset Management N.V. increased its stake in Fortinet by 146.6% in the second quarter. APG Asset Management N.V. now owns 1,265,004 shares of the software maker’s stock valued at $85,344,000 after purchasing an additional 752,100 shares during the last quarter. AQR Capital Management LLC increased its stake in Fortinet by 14.1% in the second quarter. AQR Capital Management LLC now owns 4,339,730 shares of the software maker’s stock valued at $332,640,000 after purchasing an additional 536,513 shares during the last quarter. Wells Fargo & Company MN increased its stake in Fortinet by 71.6% in the second quarter. Wells Fargo & Company MN now owns 1,280,262 shares of the software maker’s stock valued at $98,363,000 after purchasing an additional 534,070 shares during the last quarter. Finally, Altshuler Shaham Ltd increased its stake in Fortinet by 23.4% during the second quarter. Altshuler Shaham Ltd now owns 2,294,523 shares of the software maker’s stock worth $176,288,000 after acquiring an additional 434,502 shares during the last quarter. Hedge funds and other institutional investors own 69.65% of the company’s stock.

Fortinet Company Profile

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.

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

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