Fortinet, Inc. (NASDAQ:FTNT – Get Free Report) CFO Keith Jensen sold 5,100 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $51.00, for a total transaction of $260,100.00. Following the completion of the sale, the chief financial officer now owns 4,586 shares of the company’s stock, valued at approximately $233,886. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Keith Jensen also recently made the following trade(s):
- On Wednesday, August 23rd, Keith Jensen sold 24,715 shares of Fortinet stock. The stock was sold at an average price of $58.99, for a total transaction of $1,457,937.85.
Fortinet Price Performance
Shares of FTNT stock traded up $0.65 during mid-day trading on Monday, hitting $51.91. 4,915,186 shares of the stock were exchanged, compared to its average volume of 5,799,521. Fortinet, Inc. has a 52-week low of $44.12 and a 52-week high of $81.24. The company has a quick ratio of 1.17, a current ratio of 1.30 and a debt-to-equity ratio of 13.38. The company has a market cap of $39.86 billion, a PE ratio of 35.35, a price-to-earnings-growth ratio of 2.30 and a beta of 1.14. The firm has a fifty day moving average of $56.90 and a 200 day moving average of $64.53.
Institutional Investors Weigh In On Fortinet
Several institutional investors and hedge funds have recently added to or reduced their stakes in FTNT. St. Johns Investment Management Company LLC purchased a new stake in shares of Fortinet during the second quarter worth about $30,000. GeoWealth Management LLC purchased a new stake in Fortinet during the 2nd quarter worth approximately $30,000. Retirement Group LLC acquired a new position in shares of Fortinet during the fourth quarter valued at approximately $30,000. Altshuler Shaham Ltd purchased a new position in shares of Fortinet in the second quarter valued at approximately $31,000. Finally, Resurgent Financial Advisors LLC acquired a new stake in shares of Fortinet in the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors own 65.00% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group decreased their price target on Fortinet from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, November 6th. BMO Capital Markets lowered their target price on shares of Fortinet from $88.00 to $72.00 and set a “market perform” rating for the company in a research note on Friday, August 4th. Scotiabank lowered their price objective on shares of Fortinet from $90.00 to $71.00 and set a “sector outperform” rating for the company in a research report on Friday, August 4th. Stifel Nicolaus downgraded shares of Fortinet from a “buy” rating to a “hold” rating and cut their target price for the company from $69.00 to $52.00 in a research report on Friday, November 3rd. Finally, Wedbush cut their target price on Fortinet from $70.00 to $69.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Nineteen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Fortinet presently has an average rating of “Hold” and an average target price of $65.90.
Fortinet, Inc provides cybersecurity and networking 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.
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