Fortinet, Inc. (NASDAQ:FTNT) Shares Sold by United Capital Management of KS Inc.

United Capital Management of KS Inc. cut its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 5.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 38,480 shares of the software maker’s stock after selling 2,299 shares during the period. United Capital Management of KS Inc.’s holdings in Fortinet were worth $3,636,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Fortinet in the 3rd quarter valued at about $26,000. Golden State Wealth Management LLC bought a new stake in Fortinet in the 4th quarter valued at about $46,000. LFA Lugano Financial Advisors SA lifted its position in Fortinet by 445.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 600 shares of the software maker’s stock valued at $57,000 after purchasing an additional 490 shares during the last quarter. Private Trust Co. NA lifted its position in Fortinet by 95.0% in the 4th quarter. Private Trust Co. NA now owns 630 shares of the software maker’s stock valued at $60,000 after purchasing an additional 307 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Fortinet in the 4th quarter valued at about $65,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fortinet news, CFO Keith Jensen sold 23,500 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $113.56, for a total transaction of $2,668,660.00. Following the transaction, the chief financial officer now directly owns 4,736 shares in the company, valued at $537,820.16. This trade represents a 83.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Neukom bought 328 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $106.33 per share, for a total transaction of $34,876.24. Following the completion of the acquisition, the director now owns 300,006 shares of the company’s stock, valued at approximately $31,899,637.98. This represents a 0.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 622,904 shares of company stock worth $61,338,694. Corporate insiders own 18.00% of the company’s stock.

Fortinet Price Performance

FTNT opened at $96.25 on Friday. The stock has a fifty day moving average of $102.17 and a 200-day moving average of $91.57. The firm has a market capitalization of $74.01 billion, a P/E ratio of 42.59, a PEG ratio of 4.19 and a beta of 0.97. Fortinet, Inc. has a 12-month low of $54.57 and a 12-month high of $114.82. The company has a quick ratio of 1.39, a current ratio of 1.47 and a debt-to-equity ratio of 0.67.

Fortinet (NASDAQ:FTNT) last released its earnings results on Thursday, February 6th. The software maker reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Fortinet had a return on equity of 256.53% and a net margin of 29.30%. Equities analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on FTNT shares. JPMorgan Chase & Co. lifted their price objective on shares of Fortinet from $99.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Mizuho boosted their price target on shares of Fortinet from $68.00 to $78.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Wells Fargo & Company boosted their price target on shares of Fortinet from $85.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Raymond James restated a “market perform” rating on shares of Fortinet in a research report on Tuesday, January 14th. Finally, Rosenblatt Securities boosted their price target on shares of Fortinet from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, twenty have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and a consensus price target of $103.72.

About Fortinet

Fortinet, Inc provides cybersecurity and convergence of networking and security solutions worldwide. It offers secure networking solutions focus on the convergence of networking and security; network firewall solutions that consist of FortiGate data centers, hyperscale, and distributed firewalls, as well as encrypted applications; wireless LAN solutions; and secure connectivity solutions, including FortiSwitch secure ethernet switches, FortiAP wireless local area network access points, FortiExtender 5G connectivity gateways, and other products.