Fortinet Inc (NASDAQ:FTNT) EVP John Whittle sold 2,466 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $107.81, for a total transaction of $265,859.46. Following the completion of the transaction, the executive vice president now directly owns 9,309 shares in the company, valued at $1,003,603.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
John Whittle also recently made the following trade(s):
- On Wednesday, November 20th, John Whittle sold 2,465 shares of Fortinet stock. The shares were sold at an average price of $103.57, for a total transaction of $255,300.05.
- 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 transaction of $1,228,000.00.
Shares of Fortinet stock opened at $116.72 on Wednesday. The company has a 50 day moving average of $107.76 and a 200-day moving average of $89.41. Fortinet Inc has a 1-year low of $68.15 and a 1-year high of $117.67. The company has a market cap of $19.55 billion, a PE ratio of 103.29, a price-to-earnings-growth ratio of 4.68 and a beta of 1.18.
Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Thursday, October 31st. The software maker reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.11. Fortinet had a net margin of 19.23% and a return on equity of 25.46%. The company had revenue of $547.50 million during the quarter, compared to the consensus estimate of $533.55 million. During the same quarter in the prior year, the firm posted $0.49 EPS. The firm’s quarterly revenue was up 20.6% on a year-over-year basis. As a group, equities analysts predict that Fortinet Inc will post 1.62 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Allred Capital Management LLC acquired a new position in Fortinet during the 4th quarter worth approximately $38,000. FLC Capital Advisors acquired a new stake in shares of Fortinet during the fourth quarter worth $221,000. Carroll Financial Associates Inc. acquired a new stake in shares of Fortinet during the fourth quarter worth $32,000. Cooper Financial Group acquired a new stake in shares of Fortinet during the fourth quarter worth $254,000. Finally, IBM Retirement Fund acquired a new stake in shares of Fortinet during the fourth quarter worth $223,000. Institutional investors and hedge funds own 69.95% of the company’s stock.
A number of equities analysts have recently weighed in on FTNT shares. DA Davidson started coverage on shares of Fortinet in a research report on Monday. They set a “buy” rating and a $130.00 price target on the stock. Piper Jaffray Companies initiated coverage on shares of Fortinet in a report on Friday, November 8th. They set an “overweight” rating and a $116.00 price objective on the stock. Credit Suisse Group upgraded shares of Fortinet from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $79.00 to $95.00 in a research note on Friday, November 15th. Cowen lifted their price target on shares of Fortinet from $88.00 to $105.00 and gave the company a “market perform” rating in a research note on Tuesday, November 19th. Finally, BidaskClub upgraded shares of Fortinet from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Fortinet has a consensus rating of “Hold” and a consensus price target of $106.65.
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.
