Fortinet, Inc. (NASDAQ:FTNT – Get Free Report) Director Kenneth A. Goldman sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $100.00, for a total value of $200,000.00. Following the transaction, the director now directly owns 18,612 shares in the company, valued at approximately $1,861,200. The trade was a 9.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Fortinet Price Performance
Shares of FTNT stock opened at $97.93 on Thursday. Fortinet, Inc. has a 52-week low of $54.57 and a 52-week high of $114.82. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.47. The firm has a market capitalization of $75.31 billion, a P/E ratio of 43.33, a P/E/G ratio of 4.19 and a beta of 0.97. The stock has a 50 day moving average price of $102.22 and a 200 day moving average price of $91.41.
Fortinet (NASDAQ:FTNT – Get Free Report) last issued its earnings results on Thursday, February 6th. The software maker reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Fortinet had a return on equity of 256.53% and a net margin of 29.30%. As a group, sell-side analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current year.
Analyst Upgrades and Downgrades
View Our Latest Report on FTNT
Institutional Investors Weigh In On Fortinet
A number of institutional investors and hedge funds have recently bought and sold shares of FTNT. Norges Bank bought a new position in shares of Fortinet in the 4th quarter worth $724,048,000. Schroder Investment Management Group bought a new position in shares of Fortinet in the 4th quarter worth $389,867,000. FMR LLC raised its position in shares of Fortinet by 77.2% in the 4th quarter. FMR LLC now owns 6,531,705 shares of the software maker’s stock worth $617,115,000 after acquiring an additional 2,846,475 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Fortinet by 39.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,622,253 shares of the software maker’s stock worth $720,150,000 after acquiring an additional 2,151,811 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Fortinet by 72.6% in the 4th quarter. Bessemer Group Inc. now owns 4,906,439 shares of the software maker’s stock worth $463,561,000 after acquiring an additional 2,064,016 shares in the last quarter. 83.71% of the stock is owned by institutional investors.
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.
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