Fortinet Inc (FTNT) VP Sells 5583 Shares of Stock

Xavier Trudeau
Juin 13, 2017

Fortinet Inc. (FTNT) belonging to the Computer and Technology sector has declined -5.57% and closed its last trading session at $37.32. The stock was sold at an average price of $39.04, for a total value of $234,240.00. Following the transaction, the vice president now owns 11,868 shares in the company, valued at approximately $468,192.60. Fortinet, Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Director Hsieh Ming has sold 4,743 shares of Fortinet, Inc. Finally, ValuEngine upgraded shares of Fortinet from a "sell" rating to a "hold" rating in a research note on Friday, June 2nd. The stock was sold at an average price of $39.45, for a total value of $436,198.65.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Thursday, April 27th. The stock had a trading volume of 3,647,410 shares. Also, it has an estimated price-earnings (P/E) multiple of 33.47 and a trailing 12-month price-earnings (P/E) multiple of 162.97. The company rocked its 52-Week High of $41.33 and touched its 52-Week Low of $28.51.

Earnings per share (EPS) breaks down the profitability of the company on a single share basis, and for Fortinet Inc. the EPS stands at 0.17 for the previous quarter, while the analysts predicted the EPS of the stock to be 0.15, suggesting the stock exceeded the analysts' expectations. A low number in the 1-2 range typically indicates a Buy, 3 represents a Hold and 4-5 represents a consensus Sell rating. The firm had revenue of $340.60 million for the quarter, compared to the consensus estimate of $334.44 million. Alphabet Inc. (NASDAQ:GOOGL) earnings have risen with a quarterly rate of 19% over the last 5 years.

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Institutional investors now hold around $4.75 billion or 73.4% in FTNT stock. Ropes Wealth Advisors LLC raised its stake in shares of Fortinet by 11.1% in the first quarter. Profund Advisors LLC now owns 20,672 shares of the software maker's stock worth $763,000 after buying an additional 4,818 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in Fortinet by 21.4% in the first quarter. Zacks Investment Management now owns 293,387 shares of the software maker's stock worth $10,835,000 after buying an additional 3,956 shares in the last quarter. Advantus Capital Management Inc raised its stake in shares of Fortinet by 1.1% in the third quarter. Hsbc Holdings PLC now owns 23,185 shares of the software maker's stock worth $857,000 after buying an additional 219 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Fortinet during the fourth quarter valued at approximately $121,000. Several research analysts have weighed in on FTNT shares. Royal Bank Of Canada upped their price objective on shares of Fortinet from $35.00 to $41.00 and gave the company an "outperform" rating in a research note on Friday, April 28th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company.

Currently, the stock has a 1 Year Price Target of $44.15.

Specifically, insider Keith Jensen sold 624 shares of the firm's stock in a transaction on Wednesday, May 17th. The disclosure for this sale can be found here. Following the sale, the insider now directly owns 978 shares in the company, valued at $39,833.94.

ROI deals with the invested cash in the company and the return the investor realize on that money based on the net profit of the business.

Fortinet, Inc is a network security company. Its network security solution consists of FortiGate physical, virtual machine and cloud platforms, which provide integrated security and networking functions to protect data, applications and users from network-and content-level security threats.

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