John Whittle Sells 1,250 Shares of Fortinet Inc (FTNT) Stock

Fortinet Inc (NASDAQ:FTNT) VP John Whittle sold 1,250 shares of the company’s stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of $60.00, for a total transaction of $75,000.00. Following the sale, the vice president now directly owns 9,309 shares of the company’s stock, valued at approximately $558,540. The sale was disclosed in a filing with the SEC, which is available at this link.

John Whittle also recently made the following trade(s):

  • On Thursday, May 10th, John Whittle sold 1,250 shares of Fortinet stock. The shares were sold at an average price of $60.00, for a total transaction of $75,000.00.
  • On Tuesday, May 8th, John Whittle sold 2,835 shares of Fortinet stock. The shares were sold at an average price of $55.38, for a total transaction of $157,002.30.
  • On Monday, March 12th, John Whittle sold 624 shares of Fortinet stock. The shares were sold at an average price of $54.44, for a total transaction of $33,970.56.

Shares of Fortinet traded down $0.27, hitting $60.37, during trading hours on Friday, MarketBeat.com reports. The company had a trading volume of 838,884 shares, compared to its average volume of 1,770,946. Fortinet Inc has a fifty-two week low of $35.44 and a fifty-two week high of $60.82. The firm has a market cap of $10.19 billion, a P/E ratio of 116.10, a P/E/G ratio of 4.25 and a beta of 0.75.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Thursday, May 3rd. The software maker reported $0.33 EPS for the quarter, topping the consensus estimate of $0.24 by $0.09. Fortinet had a net margin of 4.01% and a return on equity of 14.64%. The firm had revenue of $399.00 million for the quarter, compared to analyst estimates of $390.60 million. During the same period in the prior year, the business posted $0.17 EPS. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. analysts forecast that Fortinet Inc will post 0.85 EPS for the current fiscal year.

Several brokerages recently issued reports on FTNT. UBS upped their price objective on shares of Fortinet from $64.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, May 21st. Bank of America upped their price objective on shares of Fortinet from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, May 4th. Morgan Stanley set a $55.00 price objective on shares of Fortinet and gave the company a “hold” rating in a research note on Friday, May 4th. Credit Suisse Group increased their price target on shares of Fortinet from $37.00 to $43.00 and gave the company an “underperform” rating in a research note on Friday, May 4th. Finally, Deutsche Bank increased their price target on shares of Fortinet from $47.00 to $61.00 and gave the company a “hold” rating in a research note on Friday, May 4th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $54.83.

Several hedge funds have recently modified their holdings of FTNT. Blue Harbour Group L.P. acquired a new position in shares of Fortinet in the 1st quarter worth approximately $146,798,000. Contour Asset Management LLC acquired a new position in shares of Fortinet in the 1st quarter worth approximately $35,733,000. Park West Asset Management LLC acquired a new position in shares of Fortinet in the 1st quarter worth approximately $24,256,000. Legal & General Group Plc lifted its holdings in shares of Fortinet by 171.7% in the 1st quarter. Legal & General Group Plc now owns 624,314 shares of the software maker’s stock worth $33,451,000 after acquiring an additional 394,553 shares during the last quarter. Finally, Mackay Shields LLC acquired a new position in shares of Fortinet in the 1st quarter worth approximately $19,776,000. Hedge funds and other institutional investors own 69.38% of the company’s stock.

Fortinet Company Profile

Fortinet, Inc provides broad, automated, and integrated 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 WAN acceleration; and FortiSandbox technology that delivers proactive detection and mitigation services; and FortiSIEM family of products, which offers a cloud-ready security information and event management solution for enterprises and service providers.

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

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