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William H. Neukom, a director at Fortinet , Inc. (NASDAQ:FTNT), recently purchased shares of the company’s common stock, according to a Form 4 filing with the Securities and Exchange Commission. On March 6, 2025, Neukom acquired 328 shares at a price of $106.335 per share, amounting to a total transaction value of $34,877. The purchase comes as Fortinet demonstrates strong financial health, with InvestingPro data showing impressive gross profit margins of 80.56% and revenue growth of 12.27% in the last twelve months.
This acquisition was made under a Rule 10b5-1 trading plan that Neukom adopted on December 6, 2024. Following this transaction, Neukom’s direct ownership in Fortinet stands at 300,006 shares. Track insider transactions and access comprehensive financial analysis with InvestingPro, which reveals 16 analysts have recently revised their earnings expectations upward for the upcoming period.
Fortinet, based in Sunnyvale, California, is known for its computer peripheral equipment and cybersecurity solutions. The company’s stock trades on the NASDAQ under the symbol FTNT. With a market capitalization of $78.35 billion and a year-to-date return of 13.04%, the company maintains a strong market position in the cybersecurity sector.
In other recent news, Fortinet has been the subject of several analyst updates following its strong financial performance. Erste Group initiated coverage on Fortinet with a Buy rating, citing the company’s high return on equity and robust profitability metrics. The firm projected Fortinet’s revenue to reach between $6.7 and $6.9 billion by 2025, supported by an operating margin of 31% to 33%. Citi analyst Fatima Boolani increased the price target for Fortinet to $115, maintaining a Neutral rating, and highlighted the company’s stable performance and strong product billings.
TD Cowen’s Shaul Eyal raised Fortinet’s price target to $135, emphasizing the company’s success in the firewall refresh cycle and growth in Unified SASE. RBC Capital Markets also adjusted its price target to $115, noting Fortinet’s solid quarterly performance and potential upsells in Secure Access Service Edge and Security Operations. Meanwhile, BMO Capital Markets increased the price target to $122, recognizing the company’s strong operating margins but expressing reservations about its fiscal year 2025 guidance. These developments reflect a broad acknowledgment of Fortinet’s strategic positioning in the cybersecurity market.
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