Stocks of Fortinet Inc (NASDAQ:FTNT) traded higher last session on Wall Street, down -2.17% to $64.03.
FTNT stock price is now -6.17% away from the 50-day moving average and 2.12% away from the 200-day moving average. The market capitalization of the company currently stands at $48.86B.
With the price target maintained at $75, Daiwa Securities recently Upgraded its rating from Neutral to Outperform for Fortinet Inc (NASDAQ: FTNT). , while ‘HSBC Securities’ rates the stock as ‘Reduce’
In other news, Xie Ken, PRESIDENT & CEO sold 24,004 shares of the company’s stock on Apr 17 ’24. The stock was sold for $1,557,362 at an average price of $64.88. Upon completion of the transaction, the PRESIDENT & CEO now directly owns 48,678,310 shares in the company, valued at $3.12 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 16 ’24, PRESIDENT & CEO Xie Ken sold 23,992 shares of the business’s stock. A total of $1,553,378 was realized by selling the stock at an average price of $64.75. This leaves the insider owning 48,660,648 shares of the company worth $3.12 billion. A total of 17.55% of the company’s stock is owned by insiders.
During the past 12 months, Fortinet Inc has had a low of $44.12 and a high of $81.24.
According to the Software – Infrastructure Company, earnings per share came in at 0.34, beating analysts’ expectations of 0.29 by 0.05. This compares to $0.39 EPS in the same period last year. The net profit margin was 21.64% and return on equity was 843.82% for FTNT. The company reported revenue of $1.42 billion for the quarter, compared to $1.28 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.3 percent. For the current quarter, analysts expect FTNT to generate $1.34B in revenue.
