2 weeks Ago By ABMN Staff
Fortinet ( NASDAQ:FTNT – Get Free Report ) had its target price decreased by stock analysts at Morgan Stanley from $123.00 to $105.00 in a note issued to investors on Wednesday, Benzinga reports.
The brokerage currently has an “overweight” rating on the software maker’s stock. Morgan Stanley’s price target points to a potential upside of 9.23% from the company’s previous close.
FTNT has been the subject of several other reports. Stephens initiated coverage on shares of Fortinet in a research note on Tuesday, April 1st. They set an “equal weight” rating and a $108.
00 price objective for the company. Wells Fargo & Company increased their target price on Fortinet from $85.00 to $105.
00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Jefferies Financial Group decreased their target price on Fortinet from $115.00 to $105.
00 and set a “hold” rating for the company in a research note on Monday, March 31st. Raymond James reissued a “market perform” rating on shares of Fortinet in a report on Tuesday, January 14th. Finally, Stifel Nicolaus boosted their price target on shares of Fortinet from $103.
00 to $115.00 and gave the stock a “hold” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, twenty have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock.
Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $105.17. Read Our Latest Stock Report on FTNT Fortinet Trading Up 0.
1 % Fortinet ( NASDAQ:FTNT – Get Free Report ) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.
60 by $0.07. Fortinet had a net margin of 29.
30% and a return on equity of 256.53%. Equities analysts forecast that Fortinet will post 2.
09 EPS for the current fiscal year. Insider Activity at Fortinet In other news, CEO Ken Xie sold 206,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $96.
93, for a total transaction of $19,967,580.00. Following the transaction, the chief executive officer now owns 51,391,879 shares of the company’s stock, valued at approximately $4,981,414,831.
47. This represents a 0.40 % decrease in their position.
The sale was disclosed in a legal filing with the SEC, which is accessible through this link . Also, CFO Keith Jensen sold 23,500 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $113.
56, for a total transaction of $2,668,660.00. Following the sale, the chief financial officer now directly owns 4,736 shares of the company’s stock, valued at approximately $537,820.
16. This represents a 83.23 % decrease in their ownership of the stock.
The disclosure for this sale can be found here . Over the last three months, insiders have sold 576,944 shares of company stock valued at $56,944,064. Corporate insiders own 18.
00% of the company’s stock. Institutional Trading of Fortinet Several hedge funds and other institutional investors have recently bought and sold shares of FTNT. SJS Investment Consulting Inc.
increased its position in shares of Fortinet by 703.1% during the first quarter. SJS Investment Consulting Inc.
now owns 257 shares of the software maker’s stock valued at $25,000 after purchasing an additional 225 shares during the period. Edmond DE Rothschild Holding S.A.
acquired a new position in Fortinet during the fourth quarter worth $27,000. Oarsman Capital Inc. lifted its holdings in shares of Fortinet by 188.
9% during the fourth quarter. Oarsman Capital Inc. now owns 416 shares of the software maker’s stock valued at $39,000 after acquiring an additional 272 shares during the period.
Graney & King LLC acquired a new stake in shares of Fortinet in the 4th quarter valued at $43,000. Finally, Banque Transatlantique SA bought a new stake in shares of Fortinet in the 4th quarter worth about $43,000. 83.
71% of the stock is currently owned by institutional investors and hedge funds. About Fortinet ( 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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