Fortinet Inc (FTNT) VP Sells $95,625.00 in Stock

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Fortinet Inc (NASDAQ:FTNT) VP John Whittle sold 1,250 shares of Fortinet stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $76.50, for a total value of $95,625.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

  • On Wednesday, August 1st, John Whittle sold 1,250 shares of Fortinet stock. The shares were sold at an average price of $62.23, for a total value of $77,787.50.
  • On Monday, June 18th, John Whittle sold 1,250 shares of Fortinet stock. The stock was sold at an average price of $64.98, for a total value of $81,225.00.
  • On Thursday, May 24th, John Whittle sold 1,250 shares of Fortinet stock. The stock was sold at an average price of $60.00, for a total value of $75,000.00.

Shares of FTNT traded down $0.09 during mid-day trading on Friday, hitting $76.50. 948,102 shares of the stock were exchanged, compared to its average volume of 1,595,718. The stock has a market capitalization of $12.73 billion, a price-to-earnings ratio of 147.12, a price-to-earnings-growth ratio of 4.66 and a beta of 0.55. Fortinet Inc has a 52-week low of $35.44 and a 52-week high of $77.39.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, August 1st. The software maker reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.22. The business had revenue of $441.30 million for the quarter, compared to analysts’ expectations of $425.66 million. Fortinet had a return on equity of 17.51% and a net margin of 5.43%. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS. analysts expect that Fortinet Inc will post 0.96 earnings per share for the current year.

A number of research analysts recently commented on FTNT shares. Bank of America boosted their price target on Fortinet from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, April 24th. Zacks Investment Research cut Fortinet from a “buy” rating to a “hold” rating in a report on Tuesday, May 1st. Evercore ISI reissued a “hold” rating and issued a $53.00 price target on shares of Fortinet in a report on Friday, May 4th. BMO Capital Markets boosted their price target on Fortinet from $58.00 to $61.00 and gave the stock an “outperform” rating in a report on Friday, May 4th. Finally, JPMorgan Chase & Co. boosted their price target on Fortinet to $58.00 and gave the stock a “neutral” rating in a report on Friday, May 4th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $66.14.

Several institutional investors and hedge funds have recently modified their holdings of the company. MetLife Investment Advisors LLC raised its holdings in shares of Fortinet by 0.8% during the 2nd quarter. MetLife Investment Advisors LLC now owns 90,858 shares of the software maker’s stock worth $5,672,000 after acquiring an additional 682 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Fortinet by 6.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 11,776 shares of the software maker’s stock worth $735,000 after acquiring an additional 758 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in shares of Fortinet by 5.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 15,732 shares of the software maker’s stock worth $982,000 after acquiring an additional 779 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Fortinet by 17.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 5,344 shares of the software maker’s stock worth $334,000 after acquiring an additional 809 shares in the last quarter. Finally, Front Row Advisors LLC raised its holdings in shares of Fortinet by 4.6% during the 2nd quarter. Front Row Advisors LLC now owns 19,627 shares of the software maker’s stock worth $1,343,000 after acquiring an additional 860 shares in the last quarter. 67.57% of the stock is currently owned by institutional investors and hedge funds.

About Fortinet

Fortinet, Inc provides broad, automated, and integrated 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 WAN acceleration; and FortiSandbox technology that delivers proactive detection and mitigation services; and FortiSIEM family of products, which offers a cloud-ready security information and event management solution for enterprises and service providers.

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

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