Warther Private Wealth LLC Has $10.23 Million Position in Fortinet, Inc. (NASDAQ:FTNT)

Warther Private Wealth LLC cut its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 5.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 108,300 shares of the software maker’s stock after selling 5,850 shares during the quarter. Fortinet comprises 3.4% of Warther Private Wealth LLC’s holdings, making the stock its 12th biggest position. Warther Private Wealth LLC’s holdings in Fortinet were worth $10,232,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of FTNT. Eastern Bank acquired a new position in shares of Fortinet during the third quarter worth about $25,000. Ashton Thomas Securities LLC bought a new stake in Fortinet in the 3rd quarter valued at approximately $26,000. Private Wealth Management Group LLC boosted its position in Fortinet by 73.3% during the 3rd 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 during the last quarter. Paladin Wealth LLC bought a new position in shares of Fortinet during the 3rd quarter worth approximately $46,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Fortinet in the fourth quarter valued at approximately $46,000. 83.71% of the stock is owned by institutional investors.

Insider Activity

In other Fortinet news, 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 value of $2,150,466.08. Following the transaction, the chief executive officer now directly owns 49,039,698 shares of the company’s stock, valued at $4,576,384,617.36. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William H. Neukom bought 355 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was purchased at an average price of $98.50 per share, with a total value of $34,967.50. Following the completion of the transaction, the director now directly owns 150,245 shares in the company, valued at approximately $14,799,132.50. This represents a 0.24 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 67,860 shares of company stock worth $6,469,056. Corporate insiders own 18.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on FTNT shares. Scotiabank increased their target price on shares of Fortinet from $115.00 to $135.00 and gave the stock a “sector outperform” rating in a report on Friday, February 7th. Citigroup increased their price objective on shares of Fortinet from $100.00 to $101.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Stifel Nicolaus lifted their target price on Fortinet from $103.00 to $115.00 and gave the company a “hold” rating in a research report on Friday, February 7th. KeyCorp raised Fortinet from a “sector weight” rating to an “overweight” rating and set a $115.00 price target for the company in a research report on Thursday, December 19th. Finally, Wedbush boosted their price target on Fortinet from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Fortinet has an average rating of “Hold” and a consensus price target of $102.77.

Fortinet Stock Down 1.1 %

FTNT opened at $108.33 on Wednesday. The stock has a fifty day moving average of $97.93 and a 200-day moving average of $85.67. The company has a market capitalization of $83.03 billion, a P/E ratio of 47.93, a P/E/G ratio of 2.75 and a beta of 1.01. Fortinet, Inc. has a fifty-two week low of $54.57 and a fifty-two week high of $110.99. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.25 and a current ratio of 1.34.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. Fortinet had a net margin of 29.30% and a return on equity of 463.85%. On average, equities analysts expect that Fortinet, Inc. will post 2.05 EPS for the current year.

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.