Fortinet, Inc. (NASDAQ:FTNT) CFO Keith Jensen Sells 17,650 Shares

Fortinet, Inc. (NASDAQ:FTNT) CFO Keith Jensen sold 17,650 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $95.66, for a total value of $1,688,399.00. Following the completion of the sale, the chief financial officer now directly owns 4,689 shares in the company, valued at approximately $448,549.74. This represents a 79.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, November 19th, Keith Jensen sold 4,250 shares of Fortinet stock. The shares were sold at an average price of $90.83, for a total value of $386,027.50.

Fortinet Stock Performance

Shares of NASDAQ:FTNT traded down $2.38 during mid-day trading on Wednesday, reaching $94.06. The company had a trading volume of 3,834,313 shares, compared to its average volume of 5,503,371. The company has a current ratio of 1.34, a quick ratio of 1.25 and a debt-to-equity ratio of 1.09. The firm has a market cap of $72.09 billion, a price-to-earnings ratio of 47.72, a PEG ratio of 2.70 and a beta of 1.00. The company’s 50-day moving average price is $83.21 and its 200-day moving average price is $70.96. Fortinet, Inc. has a one year low of $50.65 and a one year high of $100.59.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. StockNews.com raised Fortinet from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada raised their price objective on Fortinet from $82.00 to $97.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. Bank of America raised their price objective on Fortinet from $87.00 to $104.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Raymond James raised their price objective on Fortinet from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Truist Financial reaffirmed a “buy” rating and set a $105.00 target price (up from $85.00) on shares of Fortinet in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $88.93.

Institutional Investors Weigh In On Fortinet

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Eagle Capital Management LLC raised its holdings in Fortinet by 0.6% during the 3rd quarter. Eagle Capital Management LLC now owns 25,772 shares of the software maker’s stock valued at $1,999,000 after acquiring an additional 141 shares during the period. OneDigital Investment Advisors LLC raised its holdings in Fortinet by 3.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,782 shares of the software maker’s stock valued at $293,000 after acquiring an additional 141 shares during the period. Parallel Advisors LLC raised its holdings in Fortinet by 2.0% during the 2nd quarter. Parallel Advisors LLC now owns 7,504 shares of the software maker’s stock valued at $452,000 after acquiring an additional 148 shares during the period. Crewe Advisors LLC raised its holdings in Fortinet by 8.8% during the 3rd quarter. Crewe Advisors LLC now owns 1,958 shares of the software maker’s stock valued at $152,000 after acquiring an additional 158 shares during the period. Finally, Private Wealth Management Group LLC increased its holdings in shares of Fortinet by 73.3% in the third quarter. Private Wealth Management Group LLC now owns 409 shares of the software maker’s stock worth $32,000 after purchasing an additional 173 shares during the period. 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.