Company shares are trading at $40.17 which is marginally over the 50 day moving average of $38.20 and marginally over the 200 day moving average of $38.42. The 50 day moving average went up by +5.17% and the 200 day average went up by +4.55%. (NASDAQ:FTNT) shares saw light trading volume with 1,147K shares changing hands in the last trading session. Overall, volume was down 15.05% under the stocks normal daily volume.
Investors are a little more bullish on Fortinet, Inc. of late considering the motion in short interest. The firm had a fall in short interest of -14.87% as of the latest report on September 29, 2017. Short interest fell 659,881 over that timeframe. The days to cover decreased to 3.0 and the short interest percentage is 0.02% as of September 29.
Here is a rundown on some insider market activity for Fortinet, Inc. (NASDAQ:FTNT). Keith Jensen, CAO sold $67,451 worth of shares at a price of $36.46 on Wed the 9th. Jensen now owns $15,131 of stock per an SEC filing yesterday.
The following firms have recently changed their position in FTNT. Oakbrook Investments LLC expanded its holdings by buying 3,300 shares an increase of 30.4%. Oakbrook Investments LLC now controls 14,140 shares worth $507,000. The value of the position overall is up by 24.9%. State Treasurer State Of Michigan cut its investment by shedding 4,800 shares a decrease of 7.8% in the quarter. State Treasurer State Of Michigan controls 56,800 shares with a value of $2,036,000. The total value of its holdings decreased 11.7%.
As of the end of the quarter Diamond Hill Capital Management Inc had sold 14,565 shares trimming its stake by 4.3%. The value of the total investment in Fortinet, Inc. went from $12,752,000 to $11,685,000 a change of 8.4% quarter to quarter. As of quarter end American Capital Management Inc had acquired a total of 88,855 shares growing its holdings by 10.5%. The value of the investment in FTNT increased from $31,776,000 to $33,603,000 increasing 5.7% for the reporting period.
On October 18 the company was changed to “Buy” by Deutsche Bank which is up from the previous “Hold” rating.
The company’s P/E ratio is 110.05 and market cap is 7.06B. In the latest earnings report the EPS was $0.37 and is estimated to be $0.95 for the current year with 175,835,000 shares currently outstanding. Next quarter’s EPS is forecasted to be $0.28 and the next full year EPS is anticipated to be $1.14.
Fortinet, Inc., launched on November 28, 2000, is a network security company. The Company provides cyber security solutions to a range of enterprises, service providers and government organizations across the world. It provides protection against cyber-attacks and the technology to take on security performance requirements of the network. It offers a range of security products and solutions, providing customers with an integrated network security architecture and a source of threat intelligence to identify and minimize security gaps. The Business’s network security solution consists of FortiGate physical, software and cloud solutions, which are deployable in the business environments of enterprises, service providers and small and medium-sized businesses, as well as government organizations. These platforms provide a range of integrated security and networking functions to help protect data, applications and users from network- and content-level security threats..