Capital Performance Advisors LLP Has $490,000 Position in Fortinet, Inc. (NASDAQ:FTNT)

Capital Performance Advisors LLP boosted its position in Fortinet, Inc. (NASDAQ:FTNT) by 47.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,184 shares of the software maker’s stock after purchasing an additional 1,669 shares during the period. Capital Performance Advisors LLP’s holdings in Fortinet were worth $490,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Eastern Bank acquired a new position in Fortinet in the 3rd quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new position in Fortinet in the 3rd quarter worth about $26,000. Private Wealth Management Group LLC increased its holdings in Fortinet by 73.3% in the 3rd quarter. Private Wealth Management Group LLC now owns 409 shares of the software maker’s stock worth $32,000 after purchasing an additional 173 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Fortinet in the 4th quarter valued at about $46,000. Finally, R Squared Ltd bought a new stake in shares of Fortinet in the 4th quarter valued at about $65,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Up 1.5 %

FTNT stock opened at $111.64 on Monday. Fortinet, Inc. has a twelve month low of $54.57 and a twelve month high of $112.37. The company has a quick ratio of 1.25, a current ratio of 1.34 and a debt-to-equity ratio of 1.09. The stock’s 50 day moving average is $98.60 and its 200-day moving average is $86.77. The firm has a market capitalization of $85.57 billion, a PE ratio of 49.40, a P/E/G ratio of 2.75 and a beta of 1.01.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Thursday, February 6th. The software maker reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Fortinet had a return on equity of 463.85% and a net margin of 29.30%. Sell-side analysts expect that Fortinet, Inc. will post 2.05 EPS for the current fiscal year.

Insider Buying and Selling

In other Fortinet news, Director William H. Neukom purchased 355 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average cost of $98.50 per share, for a total transaction of $34,967.50. Following the completion of the acquisition, the director now owns 150,245 shares of the company’s stock, valued at $14,799,132.50. The trade was a 0.24 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Keith Jensen sold 17,650 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $95.66, for a total value 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 $448,549.74. This represents a 79.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,860 shares of company stock worth $6,469,056. 18.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FTNT shares. Jefferies Financial Group upped their price target on Fortinet from $95.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Needham & Company LLC reiterated a “hold” rating on shares of Fortinet in a research report on Friday, February 7th. The Goldman Sachs Group upped their price target on Fortinet from $114.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Scotiabank upped their price target on Fortinet from $115.00 to $135.00 and gave the company a “sector outperform” rating in a research report on Friday, February 7th. Finally, Wedbush upped their price target on Fortinet from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $103.72.

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.