Fortinet, Inc. (NASDAQ:FTNT) CFO Sells $1,928,118.80 in Stock

Fortinet, Inc. (NASDAQ:FTNT) CFO Keith Jensen sold 17,660 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $109.18, for a total transaction of $1,928,118.80. Following the transaction, the chief financial officer now directly owns 4,736 shares of the company’s stock, valued at $517,076.48. The trade was a 78.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Keith Jensen also recently made the following trade(s):

• On Wednesday, February 19th, Keith Jensen sold 23,500 shares of Fortinet stock. The shares were sold at an average price of $113.56, for a total value of $2,668,660.00.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $108.01 on Friday. The stock has a market cap of $83.06 billion, a price-to-earnings ratio of 47.79, a PEG ratio of 4.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.47. Fortinet, Inc. has a fifty-two week low of $54.57 and a fifty-two week high of $114.82. The firm’s 50-day simple moving average is $101.31 and its 200 day simple moving average is $89.87.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Thursday, February 6th. The software maker reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Fortinet had a return on equity of 256.53% and a net margin of 29.30%. As a group, research analysts anticipate that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Morgan Stanley upped their price target on Fortinet from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Jefferies Financial Group upped their target price on Fortinet from $95.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Bank of America raised their price target on shares of Fortinet from $87.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company boosted their price target on shares of Fortinet from $85.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Finally, Raymond James reiterated a “market perform” rating on shares of Fortinet in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $103.72.

Institutional Trading of Fortinet

Several institutional investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in Fortinet during the third quarter worth about $26,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Fortinet during the 4th quarter worth approximately $27,000. Private Wealth Management Group LLC boosted its stake in shares of Fortinet by 73.3% in the 3rd quarter. Private Wealth Management Group LLC now owns 409 shares of the software maker’s stock worth $32,000 after buying an additional 173 shares during the last quarter. Oarsman Capital Inc. boosted its stake in shares of Fortinet by 188.9% in the 4th quarter. Oarsman Capital Inc. now owns 416 shares of the software maker’s stock worth $39,000 after buying an additional 272 shares during the last quarter. Finally, Graney & King LLC bought a new position in shares of Fortinet in the fourth quarter valued at approximately $43,000. Institutional investors own 83.71% of the company’s stock.

Fortinet Company Profile

Fortinet, Inc provides cybersecurity and convergence of networking and security solutions worldwide. It offers secure networking solutions focus on the convergence of networking and security; network firewall solutions that consist of FortiGate data centers, hyperscale, and distributed firewalls, as well as encrypted applications; wireless LAN solutions; and secure connectivity solutions, including FortiSwitch secure ethernet switches, FortiAP wireless local area network access points, FortiExtender 5G connectivity gateways, and other products.