Investors purchased shares of Fortinet Inc. (NASDAQ:FTNT) on weakness during trading hours on Tuesday. $12.67 million flowed into the stock on the tick-up and $7.45 million flowed out of the stock on the tick-down, for a money net flow of $5.22 million into the stock. Of all companies tracked, Fortinet had the 45th highest net in-flow for the day. Fortinet traded down ($0.03) for the day and closed at $35.67

A number of equities analysts recently weighed in on FTNT shares. Oppenheimer Holdings Inc. reaffirmed a “buy” rating and issued a $50.00 target price on shares of Fortinet in a research note on Thursday, June 9th. JPMorgan Chase & Co. restated a “buy” rating on shares of Fortinet in a research note on Wednesday, June 8th. Bank of America Corp. restated a “buy” rating and set a $40.00 price objective (up from $37.00) on shares of Fortinet in a research note on Wednesday, June 8th. Pacific Crest restated a “hold” rating on shares of Fortinet in a research note on Sunday, May 22nd. Finally, Citigroup Inc. reduced their price objective on shares of Fortinet from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $39.35.

The stock has a 50 day moving average of $34.66 and a 200-day moving average of $31.98. The stock has a market cap of $6.28 billion and a price-to-earnings ratio of 982.43.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.14 earnings per share for the quarter, hitting the consensus estimate of $0.14. The firm had revenue of $311.40 million for the quarter, compared to analysts’ expectations of $304.71 million. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 earnings per share. Equities research analysts forecast that Fortinet Inc. will post $0.70 earnings per share for the current fiscal year.

In other Fortinet news, insider Keith Jensen sold 900 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $35.47, for a total value of $31,923.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Matto Andrew H. Del sold 5,500 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $34.07, for a total transaction of $187,385.00. Following the completion of the transaction, the chief financial officer now owns 22,099 shares in the company, valued at $752,912.93. The disclosure for this sale can be found here.

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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