2,362 Shares in Fortinet, Inc. (NASDAQ:FTNT) Purchased by GWN Securities Inc.

GWN Securities Inc. purchased a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,362 shares of the software maker’s stock, valued at approximately $229,000.

Other hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in Fortinet during the fourth quarter worth about $46,000. LFA Lugano Financial Advisors SA increased its holdings 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 buying an additional 490 shares during the period. Private Trust Co. NA increased its holdings 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 buying an additional 307 shares during the period. R Squared Ltd bought a new position in Fortinet in the 4th quarter valued at about $65,000. Finally, Venturi Wealth Management LLC increased its holdings in Fortinet by 30.6% in the 4th quarter. Venturi Wealth Management LLC now owns 696 shares of the software maker’s stock valued at $66,000 after buying an additional 163 shares during the period. 83.71% of the stock is owned by institutional investors.

Fortinet Stock Performance

Shares of FTNT stock opened at $96.67 on Tuesday. The firm has a market capitalization of $74.34 billion, a PE ratio of 42.77, a price-to-earnings-growth ratio of 4.19 and a beta of 0.97. The firm has a fifty day simple moving average of $102.15 and a two-hundred day simple moving average of $91.93. The company has a current ratio of 1.47, a quick ratio of 1.39 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.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Susquehanna raised their target price on shares of Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Robert W. Baird reissued a “neutral” rating and issued a $112.00 target price (up from $105.00) on shares of Fortinet in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Fortinet from $77.00 to $90.00 and gave the company a “hold” rating in a research note on Tuesday, November 19th. Raymond James restated a “market perform” rating on shares of Fortinet in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group raised their price target on shares of Fortinet from $95.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, twenty have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $103.72.

Insider Buying and Selling at Fortinet

In other Fortinet news, 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 transaction, the chief financial officer now directly owns 4,736 shares of the company’s stock, valued at $537,820.16. The trade was a 83.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Neukom acquired 328 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $106.33 per share, for a total transaction of $34,876.24. Following the completion of the acquisition, the director now directly owns 300,006 shares in the company, valued at approximately $31,899,637.98. The trade was a 0.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 599,988 shares of company stock worth $59,094,530. 18.00% of the stock is owned by corporate insiders.

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.