On August 20, 2024, Keith Jensen, Chief Financial Officer of Fortinet Inc (FTNT, Financial), sold 4,250 shares of the company at an average price of $75.68 per share, as detailed in the SEC Filing. Following this transaction, the insider now owns 4,676 shares of Fortinet Inc.
Fortinet Inc specializes in cybersecurity solutions, including firewalls, anti-virus programs, intrusion prevention systems, and endpoint security components. The company is known for its integrated and automated cybersecurity platform, which helps protect networks, users, and data from continually evolving threats.
Over the past year, Keith Jensen has sold a total of 155,574 shares and has not purchased any shares. This recent transaction follows a pattern observed in the insider transaction history for Fortinet Inc, which shows a predominance of insider selling over buying, with 27 insider sells and only 4 insider buys over the past year.
Shares of Fortinet Inc were trading at $75.68 on the day of the transaction, giving the company a market cap of approximately $56.99 billion. The price-earnings ratio of the company stands at 44.08, which is above the industry median of 25.315.
According to the GF Value, the intrinsic value estimate for Fortinet Inc is $80.50 per share, making the stock Fairly Valued with a price-to-GF-Value ratio of 0.94 at the time of the sale.
The GF Value is calculated based on historical multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted by a GuruFocus factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This sale by the insider may be of interest to current and potential investors, providing insight into insider confidence and stock valuation perceptions at Fortinet Inc.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
