2,706 Shares in Fortinet, Inc. (NASDAQ:FTNT) Acquired by Crumly & Associates Inc.

Crumly & Associates Inc. bought a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,706 shares of the software maker’s stock, valued at approximately $256,000.

Other large investors also recently bought and sold shares of the company. Eastern Bank purchased a new position in Fortinet during the third quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new position in Fortinet during the third quarter worth approximately $26,000. Private Wealth Management Group LLC raised its stake in Fortinet by 73.3% during the third 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 during the period. Golden State Wealth Management LLC purchased a new position in Fortinet during the fourth quarter worth approximately $46,000. Finally, R Squared Ltd purchased a new position in Fortinet during the fourth quarter worth approximately $65,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Trading Down 0.3 %

NASDAQ FTNT opened at $114.19 on Friday. Fortinet, Inc. has a one year low of $54.57 and a one year high of $114.82. The company has a 50-day simple moving average of $99.88 and a 200-day simple moving average of $87.93. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.47. The firm has a market capitalization of $87.52 billion, a PE ratio of 50.53, a price-to-earnings-growth ratio of 4.20 and a beta of 1.01.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Guggenheim reaffirmed a “neutral” rating on shares of Fortinet in a research note on Friday, February 7th. Baird R W downgraded shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. TD Cowen raised their target price on shares of Fortinet from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Jefferies Financial Group raised their target price 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. Finally, Rosenblatt Securities raised their target price on shares of Fortinet from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $103.72.

Insider Activity

In other Fortinet news, CFO Keith Jensen sold 23,500 shares of the business’s stock in a transaction dated 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 completion of 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 document filed with the SEC, which is available at this hyperlink. Also, Director William H. Neukom bought 355 shares of Fortinet stock in a transaction on Friday, December 6th. The shares were purchased at an average cost of $98.50 per share, with a total value of $34,967.50. Following the completion of the purchase, the director now directly owns 150,245 shares in the company, valued at $14,799,132.50. This trade represents a 0.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 87,110 shares of company stock valued at $8,751,689. Company 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.