Revenue Update on Fortinet Inc(NASDAQ:FTNT)

Fortinet Inc(NASDAQ:FTNT) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $311.39M. Analysts estimated a revenue of $304.66M. Earnings per share were $0.14. Analysts had estimated an EPS of $0.14.

Fortinet Inc (FTNT) shares turned negative on Thursdays trading session with the shares closing down -0.36 points or -1.05% at a volume of 15,36,969. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $34.51. The peak price level was also seen at $34.51 while the days lowest was $33.75. Finally the shares closed at $33.81. The 52-week high of the shares is $50.31 while the 52-week low is $23.16. According to the latest information available, the market cap of the company is $5,804 M.

Several Insider Transactions has been reported to the SEC. On Jun 3, 2016, Matto Andrew H Del (Chief Financial Officer) sold 2,750 shares at $34.23 per share price.Also, On May 10, 2016, Keith Jensen (Chief Accounting Officer) sold 1,100 shares at $31.60 per share price.On May 3, 2016, Michael Xie (VP, Engineering & CTO) sold 14,123 shares at $32.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Fortinet Inc. provides cyber security solutions to enterprise service providers and government organizations across the world. The Company’s network security solution consists of FortiGate physical and virtual appliance products that provide an array of integrated security and networking functions to protect data applications and users from network-and content-level security threats. The Company’s’ FortiGate appliances may be deployed as Next Generation Firewalls (NGFW) Data Center Firewalls (DCFW) Unified Threat Management (UTM) systems Internal Network Firewall (INFW) Virtual Machine Firewalls or Cloud Firewalls. The FortiGate appliances range from the FortiGate-20 series for small businesses and branch offices to the FortiGate-5000 series for enterprises and service providers and are based on its technology platform. Its security services are based on intelligence gathered by its FortiGuard Labs team.

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