Fortinet Inc (NASDAQ:FTNT) VP John Whittle sold 624 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $54.44, for a total value of $33,970.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
John Whittle also recently made the following trade(s):
- On Thursday, February 15th, John Whittle sold 679 shares of Fortinet stock. The stock was sold at an average price of $48.69, for a total value of $33,060.51.
- On Monday, February 12th, John Whittle sold 29,946 shares of Fortinet stock. The stock was sold at an average price of $47.00, for a total value of $1,407,462.00.
- On Monday, February 5th, John Whittle sold 11,728 shares of Fortinet stock. The stock was sold at an average price of $44.81, for a total value of $525,531.68.
- On Tuesday, December 19th, John Whittle sold 13,749 shares of Fortinet stock. The stock was sold at an average price of $45.00, for a total value of $618,705.00.
Shares of FTNT traded down $0.26 during trading hours on Friday, hitting $54.33. 1,234,822 shares of the company were exchanged, compared to its average volume of 1,220,853. The firm has a market cap of $9,172.44, a PE ratio of 104.48, a P/E/G ratio of 4.38 and a beta of 0.71. Fortinet Inc has a one year low of $35.44 and a one year high of $55.34.
Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Monday, February 5th. The software maker reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.03. The business had revenue of $416.70 million during the quarter, compared to analyst estimates of $409.04 million. Fortinet had a return on equity of 11.77% and a net margin of 2.10%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same period last year, the company posted $0.30 EPS. equities research analysts expect that Fortinet Inc will post 0.74 EPS for the current fiscal year.
FTNT has been the subject of a number of recent analyst reports. BMO Capital Markets reissued an “outperform” rating and issued a $58.00 price objective (up from $50.00) on shares of Fortinet in a report on Thursday, March 29th. Zacks Investment Research raised Fortinet from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Monday, March 12th. Robert W. Baird increased their price target on Fortinet from $50.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, January 11th. Credit Suisse Group increased their price target on Fortinet from $33.00 to $37.00 and gave the company an “underperform” rating in a research note on Tuesday, February 6th. Finally, Barclays lowered Fortinet from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $45.00 to $48.00 in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Fortinet has an average rating of “Buy” and a consensus target price of $50.13.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC purchased a new stake in shares of Fortinet in the fourth quarter valued at $109,000. Cerebellum GP LLC purchased a new stake in shares of Fortinet in the fourth quarter valued at $125,000. First Mercantile Trust Co. purchased a new stake in shares of Fortinet in the fourth quarter valued at $135,000. First Republic Investment Management Inc. purchased a new stake in shares of Fortinet in the fourth quarter valued at $208,000. Finally, Ropes Wealth Advisors LLC lifted its holdings in shares of Fortinet by 28.7% in the third quarter. Ropes Wealth Advisors LLC now owns 5,935 shares of the software maker’s stock valued at $213,000 after purchasing an additional 1,325 shares in the last quarter. Institutional investors own 68.76% of the company’s stock.
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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.
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