Fortinet Inc (FTNT) Files Form 4 Insider Selling : Michael Xie Sells 14,123 Shares

Fortinet Inc (FTNT): Michael Xie , VP, Engineering & CTO of Fortinet Inc sold 14,123 shares on May 2, 2016. The Insider selling transaction was reported by the company on May 3, 2016 to the Securities and Exchange Commission. The shares were sold at $32.50 per share for a total value of $459,015.88 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on May 3, 2016, John Whittle (VP CorpDev&Strat Alliance, GC) sold 1,435 shares at $32.48 per share price.On May 3, 2016, Matto Andrew H Del (Chief Financial Officer) sold 6,250 shares at $32.18 per share price.Also, On Feb 17, 2016, Christopher B Paisley (director) sold 6,000 shares at $24.70 per share price.On Feb 9, 2016, Keith Jensen (Chief Accounting Officer) sold 1,400 shares at $24.16 per share price.

Fortinet Inc: On Monday, May 2, 2016 heightened volatility was witnessed in Fortinet Inc which led to swings in the share price. The shares opened for trading at $32.52 and hit $32.9 on the upside , eventually ending the session at $32.86, with a gain of 1.08% or 0.35 points. The heightened volatility saw the trading volume jump to 14,87,255 shares. The 52-week high of the share price is $50.31 and the company has a market cap of $5,639 M . The 52-week low of the share price is at $23.16.

Fortinet Inc Money Flow Index Chart

Company has been under the radar of several Street Analysts.Fortinet Inc is Reiterated by Dougherty & Company to Buy and the brokerage firm has raised the Price Target to $ 40 from a previous price target of $38 .The Rating was issued on Apr 27, 2016.Fortinet Inc is Reiterated by FBR Capital to Outperform and the brokerage firm has raised the Price Target to $ 41 from a previous price target of $35 .The Rating was issued on Apr 27, 2016.Fortinet Inc is Reiterated by Wunderlich to Buy and the brokerage firm has raised the Price Target to $ 42 from a previous price target of $37 .The Rating was issued on Apr 27, 2016.Fortinet Inc is Reiterated by RBC Capital Mkts to Sector Perform and the brokerage firm has raised the Price Target to $ 36 from a previous price target of $35 .The Rating was issued on Apr 27, 2016.Fortinet Inc is Reiterated by RBC Capital Mkts to Sector Perform and the brokerage firm has raised the Price Target to $ 35 from a previous price target of $32 .The Rating was issued on Apr 26, 2016.

Fortinet Inc. provides cyber security solutions to enterprise service providers and government organizations across the world. The Company’s network security solution consists of FortiGate physical and virtual appliance products that provide an array of integrated security and networking functions to protect data applications and users from network-and content-level security threats. The Company’s’ FortiGate appliances may be deployed as Next Generation Firewalls (NGFW) Data Center Firewalls (DCFW) Unified Threat Management (UTM) systems Internal Network Firewall (INFW) Virtual Machine Firewalls or Cloud Firewalls. The FortiGate appliances range from the FortiGate-20 series for small businesses and branch offices to the FortiGate-5000 series for enterprises and service providers and are based on its technology platform. Its security services are based on intelligence gathered by its FortiGuard Labs team.

Leave a Reply

Fortinet Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Fortinet Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.