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

Fortinet, Inc. (NASDAQ:FTNT) CFO Keith Jensen sold 17,650 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $95.66, for a total value of $1,688,399.00. Following the transaction, the chief financial officer now owns 4,689 shares of the company’s stock, valued at $448,549.74. This represents a 79.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 stock was sold at an average price of $90.83, for a total transaction of $386,027.50.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $94.06 on Friday. The company 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 company has a debt-to-equity ratio of 1.09, a quick ratio of 1.25 and a current ratio of 1.34. The company’s fifty day moving average price is $83.59 and its 200 day moving average price is $71.12. Fortinet, Inc. has a 1 year low of $50.65 and a 1 year high of $100.59.

Hedge Funds Weigh In On Fortinet

A number of hedge funds have recently bought and sold shares of the business. Apollon Wealth Management LLC raised its stake in shares of Fortinet by 7.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 15,296 shares of the software maker’s stock worth $1,186,000 after buying an additional 1,081 shares during the period. Forsta AP Fonden raised its position in Fortinet by 11.8% during the third quarter. Forsta AP Fonden now owns 135,500 shares of the software maker’s stock worth $10,508,000 after acquiring an additional 14,300 shares during the period. Sarasin & Partners LLP lifted its holdings in Fortinet by 22.4% during the second quarter. Sarasin & Partners LLP now owns 2,163,093 shares of the software maker’s stock valued at $130,370,000 after purchasing an additional 395,477 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Fortinet by 543.5% in the first quarter. Cetera Investment Advisers now owns 157,319 shares of the software maker’s stock valued at $10,765,000 after purchasing an additional 132,871 shares during the period. Finally, Empower Advisory Group LLC increased its stake in shares of Fortinet by 4.2% during the third quarter. Empower Advisory Group LLC now owns 1,008,224 shares of the software maker’s stock worth $78,188,000 after purchasing an additional 40,277 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

FTNT has been the topic of a number of recent research reports. Scotiabank upped their price objective on Fortinet from $85.00 to $110.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 20th. Wedbush raised their price target on Fortinet from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Bank of America lifted their price objective on shares of Fortinet from $87.00 to $104.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Wells Fargo & Company increased their target price on shares of Fortinet from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 19th. Finally, UBS Group lifted their price target on shares of Fortinet from $70.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $88.93.

Fortinet Company Profile

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.