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Kenneth A. Goldman, a director at Fortinet , Inc. (NASDAQ:FTNT), has sold 2,000 shares of the company’s common stock, according to a recent SEC filing. The shares were sold at a price of $100 each, totaling $200,000. Following this transaction, Goldman now directly owns 18,612 shares of Fortinet, which currently has a market capitalization of $75.3 billion. The stock has seen significant momentum, gaining over 31% in the past six months despite an 8% decline last week. According to InvestingPro analysis, Fortinet maintains impressive gross profit margins of 80.6%.
The sale was executed as part of a pre-arranged trading plan under Rule 10b5-1, which Goldman adopted on December 9, 2024. In addition to his direct holdings, Goldman holds shares indirectly through GV Partners L.P. and the Goldman-Valeriote Family Trust, with post-transaction holdings of 1,000 and 20,750 shares, respectively. InvestingPro data reveals that Fortinet maintains strong financial health with a "GREAT" overall rating. For deeper insights into Fortinet’s valuation and growth prospects, check out the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Fortinet has seen a series of updates from multiple analyst firms following its strong financial performance. Erste Group initiated coverage on Fortinet with a Buy rating, citing the company’s impressive return on equity and robust profitability metrics. The firm projects Fortinet’s revenue to increase significantly by 2025, with figures expected between $6.7 and $6.9 billion. Citi analyst Fatima Boolani raised the price target for Fortinet to $115, maintaining a Neutral rating, and noted the company’s stable performance, supported by healthy product billings and large deals. TD Cowen’s Shaul Eyal also raised the price target to $135, maintaining a Buy rating, following Fortinet’s strong fourth-quarter results and growth in various segments, including Unified SASE and Security Operations.
RBC Capital Markets adjusted its price target to $115, maintaining a Sector Perform rating, and highlighted Fortinet’s solid quarterly results and potential upsells related to Secure Access Service Edge. BMO Capital Markets increased its price target to $122 while keeping a Market Perform rating, acknowledging Fortinet’s strong quarter but expressing reservations about the company’s fiscal year 2025 guidance. These developments reflect a generally positive outlook from analysts, with some concerns about future guidance and market conditions. Fortinet’s operating and financial metrics continue to attract attention from investors, as analysts weigh the company’s strategic position in the cybersecurity market.
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