Fortinet, Inc. (NASDAQ:FTNT) CFO Keith Jensen Sells 23,500 Shares

Fortinet, Inc. (NASDAQ:FTNT) CFO Keith Jensen sold 23,500 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $113.56, for a total value of $2,668,660.00. Following the completion of the transaction, the chief financial officer now directly owns 4,736 shares of the company’s stock, valued at $537,820.16. This represents a 83.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, November 26th, Keith Jensen sold 17,650 shares of Fortinet stock. The stock was sold at an average price of $95.66, for a total value of $1,688,399.00.

Fortinet Price Performance

NASDAQ FTNT opened at $114.19 on Friday. The stock has a market capitalization of $87.52 billion, a price-to-earnings ratio of 50.53, a PEG ratio of 4.20 and a beta of 1.01. Fortinet, Inc. has a 1-year low of $54.57 and a 1-year high of $114.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.47 and a quick ratio of 1.39. The business’s fifty day moving average price is $99.88 and its 200-day moving average price is $87.93.

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%. On average, equities analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Hedge Funds Weigh In On Fortinet

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Eastern Bank bought a new position in Fortinet in the third quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Fortinet in the 3rd quarter worth $26,000. Edmond DE Rothschild Holding S.A. bought a new position in Fortinet in the 4th quarter worth $27,000. Private Wealth Management Group LLC lifted its position in Fortinet by 73.3% during the third quarter. Private Wealth Management Group LLC now owns 409 shares of the software maker’s stock valued at $32,000 after purchasing an additional 173 shares in the last quarter. Finally, Oarsman Capital Inc. lifted its position in Fortinet by 188.9% during the fourth quarter. Oarsman Capital Inc. now owns 416 shares of the software maker’s stock valued at $39,000 after purchasing an additional 272 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FTNT shares. Robert W. Baird restated a “neutral” rating and set a $112.00 target price (up previously from $105.00) on shares of Fortinet in a report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price target on shares of Fortinet from $99.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Morgan Stanley upped their price objective on shares of Fortinet from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. KeyCorp upgraded shares of Fortinet from a “sector weight” rating to an “overweight” rating and set a $115.00 target price for the company in a report on Thursday, December 19th. Finally, Hsbc Global Res upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. One equities 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 issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $103.72.

About Fortinet

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.