Fortinet Inc (NASDAQ:FTNT) Director Christopher B. Paisley sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $80.72, for a total value of $80,720.00. Following the transaction, the director now directly owns 75,213 shares in the company, valued at approximately $6,071,193.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
FTNT stock opened at $81.75 on Friday. The business’s fifty day moving average is $83.13 and its 200-day moving average is $82.82. The company has a market cap of $13.62 billion, a P/E ratio of 72.35, a price-to-earnings-growth ratio of 3.63 and a beta of 1.08. Fortinet Inc has a twelve month low of $64.41 and a twelve month high of $96.96.
Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Thursday, August 1st. The software maker reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.28. The company had revenue of $521.70 million for the quarter, compared to the consensus estimate of $511.38 million. Fortinet had a return on equity of 23.96% and a net margin of 19.07%. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.41 EPS. Analysts predict that Fortinet Inc will post 1.42 EPS for the current year.
Several research analysts have issued reports on FTNT shares. Robert W. Baird reaffirmed a “hold” rating and set a $100.00 price objective on shares of Fortinet in a report on Friday, August 2nd. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $102.00 price objective (up previously from $97.00) on shares of Fortinet in a report on Friday, August 2nd. Cowen started coverage on Fortinet in a report on Thursday, May 23rd. They set a “market perform” rating and a $85.00 price objective on the stock. Morgan Stanley upped their price objective on Fortinet from $77.00 to $79.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Finally, Northland Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Fortinet in a report on Friday, May 3rd. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $87.96.
Fortinet, Inc provides broad, integrated, and automated 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 wide area network acceleration; FortiSandbox technology that delivers proactive detection and mitigation services; and FortiSIEM family of software solutions, which offers a cloud-ready security information and event management solutions.
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