Fortinet, Inc. (NASDAQ:FTNT) CFO Keith Jensen Sells 4,250 Shares of Stock

Fortinet, Inc. (NASDAQ:FTNT) CFO Keith Jensen sold 4,250 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.83, for a total transaction of $386,027.50. Following the completion of the transaction, the chief financial officer now owns 4,689 shares of the company’s stock, valued at approximately $425,901.87. The trade was a 47.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Fortinet Trading Up 1.8 %

FTNT opened at $92.45 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.25 and a current ratio of 1.34. The stock’s 50 day moving average price is $81.71 and its 200-day moving average price is $69.89. Fortinet, Inc. has a one year low of $50.65 and a one year high of $100.59. The stock has a market cap of $70.86 billion, a price-to-earnings ratio of 46.69, a P/E/G ratio of 2.71 and a beta of 1.00.

Analyst Ratings Changes

A number of brokerages have issued reports on FTNT. BMO Capital Markets increased their price target on Fortinet from $88.00 to $100.00 and gave the stock a “market perform” rating in a research note on Tuesday. Hsbc Global Res raised Fortinet from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Robert W. Baird upped their price target on Fortinet from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday. Wells Fargo & Company lifted their price objective on shares of Fortinet from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Guggenheim lowered shares of Fortinet from a “buy” rating to a “neutral” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Fortinet presently has an average rating of “Hold” and an average price target of $88.93.

Hedge Funds Weigh In On Fortinet

Several hedge funds have recently bought and sold shares of FTNT. Eastern Bank bought a new stake in shares of Fortinet during the third quarter worth $25,000. Ashton Thomas Securities LLC purchased a new position in Fortinet in the 3rd quarter worth about $26,000. Private Wealth Management Group LLC lifted its holdings in Fortinet by 73.3% during the 3rd quarter. Private Wealth Management Group LLC now owns 409 shares of the software maker’s stock valued at $32,000 after buying an additional 173 shares in the last quarter. Oakworth Capital Inc. purchased a new stake in Fortinet in the 2nd quarter valued at about $33,000. Finally, Versant Capital Management Inc grew its stake in Fortinet by 61.2% in the 2nd quarter. Versant Capital Management Inc now owns 627 shares of the software maker’s stock worth $38,000 after acquiring an additional 238 shares in the last quarter. 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.