Fortinet, Inc. (NASDAQ:FTNT - Get Free Report) Director William H. Neukom bought 328 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $106.33 per share, for a total transaction of $34,876.24. Following the purchase, the director now owns 300,006 shares of the company's stock, valued at approximately $31,899,637.98. This represents a 0.11 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Fortinet Price Performance
Shares of NASDAQ FTNT opened at $101.72 on Friday. The firm has a market cap of $78.22 billion, a PE ratio of 45.01, a PEG ratio of 4.19 and a beta of 0.97. The firm has a fifty day moving average of $101.87 and a 200 day moving average of $90.57. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.47. Fortinet, Inc. has a one year low of $54.57 and a one year high of $114.82.
Fortinet (NASDAQ:FTNT - Get Free Report) last announced its earnings results on Thursday, February 6th. The software maker reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. Fortinet had a net margin of 29.30% and a return on equity of 256.53%. As a group, research analysts predict that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on FTNT. Robert W. Baird reissued a "neutral" rating and set a $112.00 price objective (up from $105.00) on shares of Fortinet in a report on Monday, February 3rd. BMO Capital Markets upped their target price on shares of Fortinet from $88.00 to $100.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 19th. Mizuho upped their target price on shares of Fortinet from $68.00 to $78.00 and gave the stock an "underperform" rating in a research report on Friday, December 13th. JPMorgan Chase & Co. upped their target price on shares of Fortinet from $99.00 to $105.00 and gave the stock a "neutral" rating in a research report on Monday, December 16th. Finally, Susquehanna upped their target price on shares of Fortinet from $90.00 to $110.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Fortinet currently has a consensus rating of "Hold" and an average target price of $103.72.
View Our Latest Report on Fortinet
Institutional Investors Weigh In On Fortinet
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Hawaiian Bank purchased a new stake in Fortinet in the 4th quarter valued at about $670,000. LVM Capital Management Ltd. MI increased its stake in Fortinet by 10.7% during the fourth quarter. LVM Capital Management Ltd. MI now owns 89,827 shares of the software maker's stock worth $8,487,000 after purchasing an additional 8,707 shares during the period. Apollon Wealth Management LLC increased its stake in Fortinet by 7.6% during the third quarter. Apollon Wealth Management LLC now owns 15,296 shares of the software maker's stock worth $1,186,000 after purchasing an additional 1,081 shares during the period. Trilogy Capital Inc. increased its stake in Fortinet by 17.8% during the fourth quarter. Trilogy Capital Inc. now owns 23,499 shares of the software maker's stock worth $2,220,000 after purchasing an additional 3,544 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. increased its stake in Fortinet by 129.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 299,989 shares of the software maker's stock worth $28,343,000 after purchasing an additional 169,530 shares during the period. Institutional investors and hedge funds own 83.71% of the company's stock.
Fortinet Company Profile
(
Get Free Report)
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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