Jump Financial LLC Buys 84,159 Shares of Fortinet, Inc. (NASDAQ:FTNT)

Jump Financial LLC increased its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 98.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 169,967 shares of the software maker’s stock after buying an additional 84,159 shares during the period. Jump Financial LLC’s holdings in Fortinet were worth $16,058,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. acquired a new position in Fortinet in the 4th quarter valued at $27,000. Oarsman Capital Inc. boosted its position in shares of Fortinet by 188.9% in the fourth quarter. Oarsman Capital Inc. now owns 416 shares of the software maker’s stock valued at $39,000 after acquiring an additional 272 shares during the period. Graney & King LLC acquired a new position in shares of Fortinet in the fourth quarter valued at about $43,000. Golden State Wealth Management LLC acquired a new stake in Fortinet in the 4th quarter worth about $46,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in Fortinet in the 4th quarter valued at about $56,000. 83.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

FTNT has been the topic of several analyst reports. StockNews.com lowered Fortinet from a “buy” rating to a “hold” rating in a report on Tuesday, April 1st. Rosenblatt Securities boosted their target price on shares of Fortinet from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Guggenheim restated a “neutral” rating on shares of Fortinet in a research note on Friday, February 7th. Wells Fargo & Company lifted their price target on Fortinet from $85.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Finally, Baird R W lowered Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, twenty have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $105.77.

Fortinet Price Performance

Shares of FTNT opened at $96.85 on Tuesday. Fortinet, Inc. has a twelve month low of $54.57 and a twelve month high of $114.82. The company has a market capitalization of $74.48 billion, a P/E ratio of 42.85, a price-to-earnings-growth ratio of 4.19 and a beta of 1.09. The firm has a 50 day moving average of $101.56 and a 200 day moving average of $94.86. 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 posted its earnings results on Thursday, February 6th. The software maker reported $0.67 EPS for the quarter, topping 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%. As a group, equities research analysts anticipate that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortinet

In related news, VP Michael Xie sold 326,784 shares of Fortinet stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $98.17, for a total transaction of $32,080,385.28. Following the transaction, the vice president now directly owns 11,000,068 shares in the company, valued at approximately $1,079,876,675.56. The trade was a 2.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William H. Neukom purchased 328 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $106.33 per share, with a total value of $34,876.24. Following the acquisition, the director now directly owns 300,006 shares of the company’s stock, valued at $31,899,637.98. This trade represents a 0.11 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 599,988 shares of company stock worth $59,094,530 in the last three months. 18.00% of the stock is currently owned by company insiders.

Fortinet Company 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.