Yahoo Finance Insider Sale: CFO Keith Jensen Sells Shares of Fortinet Inc (FTNT)
On June 5, 2024, Keith Jensen, Chief Financial Officer of Fortinet Inc (NASDAQ:FTNT), sold 39,049 shares of the company, according to a recent SEC Filing. Following this transaction, the insider now owns 23,364 shares of Fortinet Inc.
Fortinet Inc specializes in cybersecurity solutions, including firewalls, anti-virus, intrusion prevention, and endpoint security. The company is known for its high-performance network security products and services that protect IT infrastructures, endpoints, and applications from various threats.
Over the past year, Keith Jensen has sold a total of 156,424 shares and has not made any purchases of the company's stock. This recent transaction is part of a broader trend within the company, where there have been 27 insider sells and only 4 insider buys over the past year.
Shares of Fortinet Inc were trading at $59.22 on the day of the transaction. The company has a market cap of approximately $45.62 billion. The price-earnings ratio of Fortinet Inc stands at 39.03, which is above the industry median of 25.92.
The stock's valuation, according to GF Value, is $84.59, indicating that Fortinet Inc is modestly undervalued with a price-to-GF-Value ratio of 0.7.
The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from analysts.
This insider sale might interest investors tracking ownership changes and evaluating the stock's current valuation metrics, such as the price-sales ratio, price-book ratio, and price-to-free cash flow.
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.
This article first appeared on GuruFocus.
