Fortinet Inc. (NASDAQ:FTNT)’s share price shot up 2.9% on Friday . The stock traded as high as $35.80 and last traded at $35.71, with a volume of 691,257 shares changing hands. The stock had previously closed at $34.71.

Several brokerages recently weighed in on FTNT. Barclays PLC cut their price objective on shares of Fortinet from $46.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, June 1st. Royal Bank Of Canada increased their price objective on shares of Fortinet from $32.00 to $35.00 and gave the company a “sector perform” rating in a report on Tuesday, April 26th. Pacific Crest restated a “hold” rating on shares of Fortinet in a report on Sunday, May 22nd. Dougherty & Co increased their price objective on shares of Fortinet from $38.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, April 27th. Finally, Evercore ISI began coverage on shares of Fortinet in a report on Thursday, April 14th. They issued a “hold” rating and a $30.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $40.95.

The stock has a 50 day moving average of $33.34 and a 200 day moving average of $30.39. The company has a market capitalization of $6.14 billion and a P/E ratio of 1986.67.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Tuesday, April 26th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03. During the same quarter in the prior year, the business earned $0.08 earnings per share. The business had revenue of $284.60 million for the quarter, compared to analyst estimates of $273.46 million. The firm’s quarterly revenue was up 33.7% on a year-over-year basis. On average, analysts expect that Fortinet Inc. will post $0.70 EPS for the current fiscal year.

In other news, CAO Keith Jensen sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $31.60, for a total value of $34,760.00. Following the transaction, the chief accounting officer now owns 218 shares in the company, valued at approximately $6,888.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matto Andrew H. Del sold 2,750 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $34.23, for a total transaction of $94,132.50. Following the completion of the transaction, the chief financial officer now owns 14,599 shares in the company, valued at approximately $499,723.77. The disclosure for this sale can be found here.

Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Fortinet by 1.1% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,453 shares of the company’s stock worth $1,323,000 after buying an additional 455 shares during the last quarter. Comerica Bank increased its position in Fortinet by 1.3% in the fourth quarter. Comerica Bank now owns 106,251 shares of the company’s stock worth $3,040,000 after buying an additional 1,402 shares during the last quarter. Gamco Investors INC. ET AL increased its position in Fortinet by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 74,800 shares of the company’s stock worth $2,332,000 after buying an additional 2,500 shares during the last quarter. Mutual of America Capital Management LLC increased its position in Fortinet by 3.2% in the fourth quarter. Mutual of America Capital Management LLC now owns 99,926 shares of the company’s stock worth $3,115,000 after buying an additional 3,110 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in Fortinet by 1.7% in the fourth quarter. California Public Employees Retirement System now owns 333,300 shares of the company’s stock worth $10,389,000 after buying an additional 5,700 shares during the last quarter.

Fortinet, Inc provides cyber security solutions to enterprises, service providers and government organizations across the world. The Company’s flagship network security solution consists of FortiGate physical, virtual machine and cloud platforms, which provide integrated security and networking functions to protect data, applications and users from network-and content-level security threats.

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