Fortinet, Inc. (NASDAQ:FTNT – Get Free Report) Director Kenneth A. Goldman sold 2,000 shares of Fortinet stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $100.00, for a total value of $200,000.00. Following the completion of the sale, the director now owns 18,612 shares of the company’s stock, valued at $1,861,200. This trade represents a 9.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Fortinet Stock Performance
FTNT stock opened at $96.25 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. The firm has a market cap of $74.01 billion, a P/E ratio of 42.59, a P/E/G ratio of 4.19 and a beta of 0.97. Fortinet, Inc. has a 12-month low of $54.57 and a 12-month high of $114.82. The stock’s 50 day simple moving average is $102.17 and its 200 day simple moving average is $91.57.
Fortinet (NASDAQ:FTNT – Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The software maker reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities research analysts predict that Fortinet, Inc. will post 2.09 EPS for the current year.
Analyst Upgrades and Downgrades
View Our Latest Report on FTNT
Institutional Investors Weigh In On Fortinet
Several institutional investors and hedge funds have recently made changes to their positions in the company. Manchester Capital Management LLC raised its position in shares of Fortinet by 13.5% during the 4th quarter. Manchester Capital Management LLC now owns 843 shares of the software maker’s stock valued at $80,000 after acquiring an additional 100 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its stake in Fortinet by 1.6% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 6,833 shares of the software maker’s stock worth $646,000 after buying an additional 107 shares during the last quarter. Fielder Capital Group LLC grew its stake in Fortinet by 1.6% during the 4th quarter. Fielder Capital Group LLC now owns 6,904 shares of the software maker’s stock worth $652,000 after buying an additional 111 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in Fortinet by 1.4% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 8,346 shares of the software maker’s stock worth $789,000 after buying an additional 114 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in Fortinet by 1.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 9,390 shares of the software maker’s stock worth $902,000 after buying an additional 116 shares during the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.
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.
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