2,998 Shares in Fortinet, Inc. (NASDAQ:FTNT) Purchased by Roman Butler Fullerton & Co.

Roman Butler Fullerton & Co. bought a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,998 shares of the software maker’s stock, valued at approximately $290,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Fifth Third Wealth Advisors LLC boosted its stake in Fortinet by 1.6% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 6,833 shares of the software maker’s stock valued at $646,000 after acquiring an additional 107 shares during the period. Versant Capital Management Inc raised its holdings in shares of Fortinet by 13.1% during the fourth quarter. Versant Capital Management Inc now owns 1,106 shares of the software maker’s stock valued at $104,000 after buying an additional 128 shares during the last quarter. Diversified Trust Co raised its holdings in shares of Fortinet by 0.6% during the fourth quarter. Diversified Trust Co now owns 23,852 shares of the software maker’s stock valued at $2,254,000 after buying an additional 135 shares during the last quarter. Eagle Capital Management LLC raised its holdings in shares of Fortinet by 0.6% during the third quarter. Eagle Capital Management LLC now owns 25,772 shares of the software maker’s stock valued at $1,999,000 after buying an additional 141 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its holdings in shares of Fortinet by 3.9% during the third quarter. OneDigital Investment Advisors LLC now owns 3,782 shares of the software maker’s stock valued at $293,000 after buying an additional 141 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. KeyCorp raised Fortinet from a “sector weight” rating to an “overweight” rating and set a $115.00 price target on the stock in a report on Thursday, December 19th. Truist Financial reaffirmed a “buy” rating and set a $105.00 price target (up previously from $85.00) on shares of Fortinet in a report on Wednesday, November 20th. HSBC raised Fortinet from a “hold” rating to a “buy” rating and lifted their price target for the company from $83.00 to $111.00 in a report on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of Fortinet in a report on Friday, February 7th. Finally, Raymond James reissued a “market perform” rating on shares of Fortinet in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $103.72.

Fortinet Trading Up 1.5 %

Fortinet stock opened at $111.64 on Friday. The company’s fifty day simple moving average is $98.60 and its 200-day simple moving average is $86.57. The company has a quick ratio of 1.25, a current ratio of 1.34 and a debt-to-equity ratio of 1.09. Fortinet, Inc. has a 12 month low of $54.57 and a 12 month high of $112.37. The stock has a market cap of $85.57 billion, a P/E ratio of 49.40, a P/E/G ratio of 2.75 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 463.85%. As a group, sell-side analysts forecast that Fortinet, Inc. will post 2.05 EPS for the current fiscal year.

Insider Activity

In related news, CFO Keith Jensen sold 4,250 shares of Fortinet stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.83, for a total value of $386,027.50. Following the completion of the sale, the chief financial officer now owns 4,689 shares of the company’s stock, valued at approximately $425,901.87. The trade was a 47.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ken Xie sold 23,044 shares of Fortinet stock in a transaction on 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 sale, the chief executive officer now directly owns 49,039,698 shares of the company’s stock, valued at approximately $4,576,384,617.36. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,860 shares of company stock worth $6,469,056 in the last ninety days. Corporate insiders own 18.00% of the company’s stock.

Fortinet 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.