Fortinet Inc (NASDAQ:FTNT) Director Christopher B. Paisley sold 750 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $144.00, for a total transaction of $108,000.00. Following the transaction, the director now owns 75,412 shares in the company, valued at $10,859,328. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Fortinet stock opened at $142.64 on Friday. The firm has a 50-day moving average of $116.09 and a 200-day moving average of $108.28. The stock has a market cap of $23.18 billion, a PE ratio of 72.41, a PEG ratio of 5.55 and a beta of 0.92. Fortinet Inc has a 52-week low of $68.87 and a 52-week high of $149.69.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, May 6th. The software maker reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.10. The company had revenue of $576.90 million during the quarter, compared to analysts’ expectations of $554.22 million. Fortinet had a net margin of 16.44% and a return on equity of 32.91%. Fortinet’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 earnings per share. Equities analysts anticipate that Fortinet Inc will post 1.85 EPS for the current year.

FTNT has been the topic of a number of recent analyst reports. Mizuho restated a “hold” rating and set a $123.00 target price on shares of Fortinet in a report on Wednesday, May 13th. Morgan Stanley boosted their target price on shares of Fortinet from $100.00 to $116.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. UBS Group lifted their price objective on shares of Fortinet from $115.00 to $122.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. DA Davidson lifted their price objective on shares of Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Oppenheimer lifted their price objective on shares of Fortinet from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $121.73.

Hedge funds have recently bought and sold shares of the stock. AE Wealth Management LLC acquired a new position in Fortinet in the fourth quarter valued at about $231,000. Fulton Breakefield Broenniman LLC acquired a new position in Fortinet in the first quarter valued at about $373,000. Sigma Planning Corp acquired a new position in Fortinet in the fourth quarter valued at about $322,000. Bank of America Corp DE raised its stake in Fortinet by 26.3% in the fourth quarter. Bank of America Corp DE now owns 1,855,147 shares of the software maker’s stock valued at $198,057,000 after purchasing an additional 386,796 shares in the last quarter. Finally, Cedar Capital LLC acquired a new position in Fortinet in the first quarter valued at about $1,077,000. 75.56% of the stock is owned by institutional investors and hedge funds.

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.

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

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