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

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

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 value of $386,027.50.

Fortinet Stock Performance

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

Wall Street Analysts Forecast Growth

FTNT has been the topic of a number of recent research reports. Mizuho cut shares of Fortinet from a “neutral” rating to an “underperform” rating and set a $68.00 price target on the stock. in a research report on Thursday, October 17th. HSBC upgraded shares of Fortinet from a “hold” rating to a “buy” rating and increased their target price for the stock from $83.00 to $111.00 in a report on Monday, November 11th. BMO Capital Markets boosted their price target on shares of Fortinet from $88.00 to $100.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 19th. Cantor Fitzgerald increased their price objective on Fortinet from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Stifel Nicolaus upped their price target on Fortinet from $84.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $88.93.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Silvercrest Asset Management Group LLC increased its position in shares of Fortinet by 37.1% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 43,856 shares of the software maker’s stock worth $2,996,000 after purchasing an additional 11,879 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Fortinet by 423.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 48,201 shares of the software maker’s stock valued at $3,293,000 after buying an additional 38,990 shares in the last quarter. Tidal Investments LLC grew its position in shares of Fortinet by 13.5% in the 1st quarter. Tidal Investments LLC now owns 35,039 shares of the software maker’s stock worth $2,392,000 after acquiring an additional 4,164 shares in the last quarter. Hancock Whitney Corp increased its holdings in shares of Fortinet by 0.6% in the 1st quarter. Hancock Whitney Corp now owns 41,297 shares of the software maker’s stock valued at $2,821,000 after acquiring an additional 235 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC acquired a new stake in shares of Fortinet during the 1st quarter valued at approximately $397,000. 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.