Fortinet Inc's (NASDAQ:FTNT) Chief Operating Officer, John Whittle, executed a sale of 43,745 shares of the company on February 12, 2024, according to a recent SEC Filing. The transaction was carried out at an average price of $70.43 per share, resulting in a total value of approximately $3,080,430.35.
Fortinet Inc is a global leader in broad, integrated, and automated cybersecurity solutions. The company provides top-rated network and content security, as well as secure access products that share intelligence and work together to form a cooperative fabric. Fortinet's unique security fabric combines Security Processors, an intuitive operating system, and applied threat intelligence to provide proven security, exceptional performance, and better visibility and control—while providing easier administration.
Over the past year, the insider has sold a total of 43,745 shares and has not made any purchases. The recent sale by the insider is part of a trend observed over the past year, where there have been 27 insider sells and only 4 insider buys for Fortinet Inc.
On the valuation front, Fortinet Inc's shares were trading at $70.43 on the day of the insider's sale, giving the company a market capitalization of $54.429 billion. The price-earnings ratio stands at 48.88, which is above the industry median of 26.57 but below the company's historical median price-earnings ratio.
According to the GuruFocus Value chart, with a share price of $70.43 and a GuruFocus Value of $84.26, Fortinet Inc's price-to-GF-Value ratio is 0.84, indicating that the stock is modestly undervalued.
The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.
Investors often monitor insider transactions as they can provide insights into a company's internal dynamics and potential future performance. However, it is important to consider a wide range of factors when evaluating the implications of insider trading activity.
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.
