Fortinet, Inc. (NASDAQ:FTNT) Shares Bought by Signaturefd LLC

Signaturefd LLC raised its position in Fortinet, Inc. (NASDAQ:FTNT) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,849 shares of the software maker’s stock after purchasing an additional 177 shares during the quarter. Signaturefd LLC’s holdings in Fortinet were worth $1,497,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Manchester Capital Management LLC increased its stake in shares of Fortinet by 13.5% in the fourth quarter. Manchester Capital Management LLC now owns 843 shares of the software maker’s stock valued at $80,000 after purchasing an additional 100 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in shares of Fortinet by 1.6% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 6,833 shares of the software maker’s stock valued at $646,000 after purchasing an additional 107 shares during the period. Fielder Capital Group LLC increased its stake in shares of Fortinet by 1.6% in the fourth quarter. Fielder Capital Group LLC now owns 6,904 shares of the software maker’s stock valued at $652,000 after purchasing an additional 111 shares during the period. Sheaff Brock Investment Advisors LLC increased its stake in shares of Fortinet by 1.4% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 8,346 shares of the software maker’s stock valued at $789,000 after purchasing an additional 114 shares during the period. Finally, Truvestments Capital LLC increased its stake in shares of Fortinet by 3.0% in the fourth quarter. Truvestments Capital LLC now owns 4,310 shares of the software maker’s stock valued at $407,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. StockNews.com lowered shares of Fortinet from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Rosenblatt Securities raised their price objective on shares of Fortinet from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, February 7th. KeyCorp upgraded shares of Fortinet from a “sector weight” rating to an “overweight” rating and set a $115.00 price objective on the stock in a research note on Thursday, December 19th. Piper Sandler reiterated an “overweight” rating and set a $135.00 price objective (up previously from $120.00) on shares of Fortinet in a research note on Friday, February 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Fortinet in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, twenty have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Fortinet presently has a consensus rating of “Hold” and a consensus target price of $103.72.

Fortinet Trading Up 0.4 %

Fortinet stock opened at $96.67 on Tuesday. The company’s fifty day simple moving average is $102.15 and its 200-day simple moving average is $91.93. 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, Inc. has a 12 month low of $54.57 and a 12 month high of $114.82. The stock has a market cap of $74.34 billion, a P/E ratio of 42.77, a P/E/G ratio of 4.19 and a beta of 0.97.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Thursday, February 6th. The software maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07. Fortinet had a net margin of 29.30% and a return on equity of 256.53%. As a group, sell-side analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Insider Activity at Fortinet

In related news, VP Michael Xie sold 326,784 shares of Fortinet stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $98.17, for a total value of $32,080,385.28. Following the completion of the sale, the vice president now owns 11,000,068 shares of the company’s stock, valued at approximately $1,079,876,675.56. The trade was a 2.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Keith Jensen sold 23,500 shares of Fortinet stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $113.56, for a total transaction of $2,668,660.00. Following the completion of the sale, the chief financial officer now directly owns 4,736 shares of the company’s stock, valued at approximately $537,820.16. The trade was a 83.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 599,988 shares of company stock valued at $59,094,530. Insiders own 18.00% of the company’s stock.

Fortinet Profile

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.