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

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

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 transaction of $386,027.50.

Fortinet Price Performance

FTNT stock opened at $94.06 on Thursday. Fortinet, Inc. has a 1 year low of $50.65 and a 1 year high of $100.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.34 and a quick ratio of 1.25. The firm has a market capitalization of $72.09 billion, a PE ratio of 47.51, a price-to-earnings-growth ratio of 2.70 and a beta of 1.00. The business has a 50 day simple moving average of $83.21 and a 200-day simple moving average of $70.96.

Analyst Ratings Changes

A number of research firms recently issued reports on FTNT. BMO Capital Markets boosted their target price on shares of Fortinet from $88.00 to $100.00 and gave the company a “market perform” rating in a research report on Tuesday, November 19th. Piper Sandler upped their target price on Fortinet from $80.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Robert W. Baird lifted their price target on Fortinet from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. TD Cowen boosted their price target on Fortinet from $90.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Raymond James raised their price objective on shares of Fortinet from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $88.93.

Hedge Funds Weigh In On Fortinet

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Eastern Bank acquired a new position in shares of Fortinet during the 3rd quarter valued at about $25,000. Ashton Thomas Securities LLC purchased a new position in Fortinet during the third quarter worth about $26,000. Private Wealth Management Group LLC boosted its holdings in Fortinet by 73.3% in the 3rd quarter. Private Wealth Management Group LLC now owns 409 shares of the software maker’s stock valued at $32,000 after purchasing an additional 173 shares during the last quarter. Oakworth Capital Inc. purchased a new stake in shares of Fortinet in the 2nd quarter valued at approximately $33,000. Finally, Versant Capital Management Inc increased its holdings in shares of Fortinet by 61.2% during the 2nd quarter. Versant Capital Management Inc now owns 627 shares of the software maker’s stock worth $38,000 after buying an additional 238 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

About Fortinet

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.