Reasons for John Whittle’s Shares Sale of Fortinet, Inc. (FTNT)’s Stock; Approach Resources, Inc. (AREX) Covered By 2 Bullish Analysts Last Week

On February 15, 2018, insider trading trade was made. John Whittle, the VP CorpDev&Strat Alliance – GC and an insider of Fortinet Inc unloaded a total of 679 shares of Fortinet Inc, worth approximately $33,062 USD, at $48.7 for a share at the time of the trade. In the last month, he also sold 51,520 shares with a total value $2,395,641 USD. The report was disclosed in a filing dated February 15, 2018 with the SEC. Currently, Mr. John, owns 8,684 shares, which accounts for 0.00% of the Company’s market cap. The insider’s activity definitely generated quite an interest in the stock community.

Among 13 analysts covering Approach Resources (NASDAQ:AREX), 2 have Buy rating, 1 Sell and 10 Hold. Therefore 15% are positive. Approach Resources had 24 analyst reports since July 21, 2015 according to SRatingsIntel. Wunderlich upgraded Approach Resources, Inc. (NASDAQ:AREX) rating on Wednesday, October 26. Wunderlich has “Buy” rating and $5.50 target. The firm has “Accumulate” rating given on Monday, August 10 by KLR Group. As per Wednesday, October 26, the company rating was upgraded by Suntrust Robinson. The rating was maintained by Wunderlich with “Hold” on Tuesday, May 24. SunTrust upgraded the shares of AREX in report on Wednesday, October 26 to “Hold” rating. The firm has “Hold” rating given on Tuesday, September 26 by Robert W. Baird. The stock has “Market Perform” rating by Northland Capital on Friday, August 7. The firm earned “Hold” rating on Monday, November 13 by KeyBanc Capital Markets. The firm has “Hold” rating given on Tuesday, September 5 by KeyBanc Capital Markets. The firm earned “Neutral” rating on Wednesday, September 9 by Macquarie Research. See Approach Resources, Inc. (NASDAQ:AREX) latest ratings:

13/11/2017 Broker: KeyBanc Capital Markets Rating: Hold Maintain
26/09/2017 Broker: Robert W. Baird Rating: Hold New Target: $4.0 Maintain
05/09/2017 Broker: KeyBanc Capital Markets Rating: Hold Maintain
18/08/2017 Broker: Imperial Capital Rating: In-Line New Target: $2.5 Initiates Coverage On

The stock increased 1.86% or $0.9 during the last trading session, reaching $49.28. About 1.74M shares traded. Fortinet, Inc. (NASDAQ:FTNT) has risen 20.17% since February 16, 2017 and is uptrending. It has outperformed by 3.47% the S&P500.

Fortinet, Inc. provides cybersecurity solutions for enterprises, service providers, and government organizations worldwide. The company has market cap of $8.57 billion. The firm offers FortiGate physical and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, Web filtering, anti-spam, and wide area network acceleration; FortiManager product family to provide a central management solution for FortiGate products comprising software updates, configuration, policy settings, and security updates; and the FortiAnalyzer product family, which offers a single point of network log data collection. It has a 102.88 P/E ratio. It also provides FortiAP secure wireless access points; FortiWeb, a Web application firewall; FortiMail email security; FortiDB database security appliances; FortiClient, an endpoint security software; and FortiSwitch secure switch connectivity products.

Among 36 analysts covering Fortinet Inc. (NASDAQ:FTNT), 23 have Buy rating, 1 Sell and 12 Hold. Therefore 64% are positive. Fortinet Inc. has $56 highest and $27 lowest target. $43.93’s average target is -10.86% below currents $49.28 stock price. Fortinet Inc. had 110 analyst reports since July 23, 2015 according to SRatingsIntel. The firm earned “Hold” rating on Tuesday, February 6 by Stifel Nicolaus. The firm earned “Equal-Weight” rating on Tuesday, January 9 by Barclays Capital. The firm earned “Buy” rating on Thursday, September 28 by Northland Capital. The rating was maintained by Oppenheimer on Thursday, July 27 with “Buy”. The rating was maintained by Nomura with “Buy” on Wednesday, October 12. The firm has “Equal-Weight” rating by Morgan Stanley given on Wednesday, October 12. The firm has “Neutral” rating by Citigroup given on Tuesday, February 6. The company was maintained on Thursday, July 23 by Needham. Cowen & Co maintained it with “Buy” rating and $44.0 target in Friday, October 27 report. The firm has “Buy” rating given on Wednesday, October 12 by Dougherty & Company.

Approach Resources, Inc., an independent energy company, focuses on the acquisition, exploration, development, and production of unconventional gas and oil reserves in the United States. The company has market cap of $284.18 million. The companyÂ’s properties are primarily located in the Permian Basin in west Texas. It currently has negative earnings. It also owns interests in east Texas Basin.

Since December 4, 2017, it had 5 insider buys, and 0 selling transactions for $6.53 million activity. $1.55 million worth of Approach Resources, Inc. (NASDAQ:AREX) shares were bought by Wilks Brothers – LLC.

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