2,736 Shares in Fortinet, Inc. (NASDAQ:FTNT) Acquired by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC acquired a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,736 shares of the software maker’s stock, valued at approximately $258,000.

Other large investors have also recently added to or reduced their stakes in the company. Eastern Bank acquired a new stake in shares of Fortinet during the 3rd quarter valued at about $25,000. Ashton Thomas Securities LLC acquired a new stake in Fortinet in the third quarter valued at approximately $26,000. Private Wealth Management Group LLC grew its position in Fortinet by 73.3% in the third quarter. Private Wealth Management Group LLC now owns 409 shares of the software maker’s stock worth $32,000 after acquiring an additional 173 shares in the last quarter. City State Bank raised its holdings in shares of Fortinet by 900.0% during the 3rd quarter. City State Bank now owns 500 shares of the software maker’s stock valued at $39,000 after purchasing an additional 450 shares in the last quarter. Finally, Paladin Wealth LLC acquired a new stake in shares of Fortinet in the 3rd quarter valued at $46,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Up 0.2 %

Shares of NASDAQ:FTNT opened at $94.23 on Monday. Fortinet, Inc. has a 12 month low of $54.57 and a 12 month high of $101.00. The company’s 50-day moving average price is $95.68 and its two-hundred day moving average price is $80.61. The firm has a market cap of $72.22 billion, a P/E ratio of 47.59, a P/E/G ratio of 2.51 and a beta of 1.00. The company has a quick ratio of 1.25, a current ratio of 1.34 and a debt-to-equity ratio of 1.09.

Analyst Upgrades and Downgrades

FTNT has been the topic of several recent research reports. Wells Fargo & Company raised their target price on Fortinet from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, November 19th. Wedbush increased their price target on Fortinet from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. StockNews.com upgraded shares of Fortinet from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Robert W. Baird lifted their target price on shares of Fortinet from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, Truist Financial restated a “buy” rating and set a $105.00 price target (up from $85.00) on shares of Fortinet in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $96.17.

Insider Activity at Fortinet

In other Fortinet news, CFO Keith Jensen sold 17,650 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $95.66, for a total transaction of $1,688,399.00. Following the completion of the sale, the chief financial officer now directly owns 4,689 shares of the company’s stock, valued at approximately $448,549.74. The trade was a 79.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ken Xie sold 23,044 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $93.32, for a total transaction of $2,150,466.08. Following the completion of the transaction, the chief executive officer now directly owns 49,039,698 shares in the company, valued at $4,576,384,617.36. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,860 shares of company stock valued at $6,469,056 over the last quarter. Corporate insiders own 18.00% of the company’s stock.

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.