MinichMacGregor Wealth Administration LLC raised its stake in Fortinet, Inc. (NASDAQ:FTNT – Get Score) by 17.0% within the fourth quarter, in response to the corporate in its most up-to-date disclosure with the Securities and Trade Fee. The institutional investor owned 40,594 shares of the software program maker’s inventory after shopping for a further 5,886 shares in the course of the interval. MinichMacGregor Wealth Administration LLC’s holdings in Fortinet had been price $1,985,000 on the finish of the latest reporting interval.
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Numerous different hedge funds and different institutional buyers additionally lately modified their holdings of FTNT. Ronald Blue Belief Inc. elevated its stake in Fortinet by 632.9% within the third quarter. Ronald Blue Belief Inc. now owns 535 shares of the software program maker’s inventory valued at $30,000 after buying a further 462 shares within the final quarter. Beacon Capital Administration LLC raised its stake in shares of Fortinet by 400.0% in the course of the third quarter. Beacon Capital Administration LLC now owns 840 shares of the software program maker’s inventory price $47,000 after shopping for a further 672 shares over the last quarter. Guardian Wealth Advisors LLC bought a brand new stake in shares of Fortinet within the third quarter price about $50,000. Covestor Ltd grew its stake in Fortinet by 53.3% within the 1st quarter. Covestor Ltd now owns 164 shares of the software program maker’s inventory valued at $56,000 after buying a further 57 shares over the last quarter. Lastly, EverSource Wealth Advisors LLC raised its place in Fortinet by 26.3% in the course of the third quarter. EverSource Wealth Advisors LLC now owns 1,332 shares of the software program maker’s inventory price $65,000 after buying a further 277 shares over the last quarter. 64.35% of the inventory is at present owned by institutional buyers and hedge funds.
Analyst Scores Modifications
A number of analysts have lately commented on FTNT shares. BTIG Analysis lowered shares of Fortinet from a “purchase” ranking to a “impartial” ranking in a analysis report on Friday, January thirteenth. Barclays boosted their worth goal on Fortinet from $56.00 to $68.00 and gave the inventory an “obese” ranking in a report on Thursday, February ninth. Wedbush lifted their worth goal on Fortinet from $64.00 to $70.00 and gave the inventory an “outperform” ranking in a analysis report on Wednesday, February eighth. JPMorgan Chase & Co. raised their worth goal on shares of Fortinet from $69.00 to $70.00 and gave the inventory an “obese” ranking in a analysis word on Wednesday, February eighth. Lastly, Royal Financial institution of Canada boosted their worth goal on shares of Fortinet from $57.00 to $68.00 in a analysis report on Wednesday, February eighth. 9 funding analysts have rated the inventory with a maintain ranking and twenty-two have assigned a purchase ranking to the corporate’s inventory. Based mostly on information from MarketBeat, the corporate presently has a mean ranking of “Reasonable Purchase” and a mean goal worth of $69.39.
Insider Exercise at Fortinet
In different Fortinet information, EVP Patrice Perche bought 11,035 shares of the inventory in a transaction that occurred on Tuesday, February twenty first. The inventory was bought at a mean worth of $59.75, for a complete transaction of $659,341.25. Following the transaction, the chief vp now owns 25,730 shares of the corporate’s inventory, valued at roughly $1,537,367.50. The transaction was disclosed in a doc filed with the SEC, which is out there at this hyperlink. In different Fortinet information, CFO Keith Jensen bought 98,374 shares of the inventory in a transaction on Thursday, February twenty third. The shares had been bought at a mean worth of $60.18, for a complete transaction of $5,920,147.32. Following the sale, the chief monetary officer now instantly owns 4,569 shares of the corporate’s inventory, valued at $274,962.42. The sale was disclosed in a submitting with the Securities & Trade Fee, which could be accessed via the SEC web site. Additionally, EVP Patrice Perche bought 11,035 shares of the enterprise’s inventory in a transaction dated Tuesday, February twenty first. The shares had been bought at a mean worth of $59.75, for a complete transaction of $659,341.25. Following the sale, the chief vp now instantly owns 25,730 shares of the corporate’s inventory, valued at roughly $1,537,367.50. The disclosure for this sale could be discovered right here. Insiders bought a complete of 924,949 shares of firm inventory valued at $53,411,641 during the last three months. 18.80% of the inventory is owned by insiders.
Fortinet Inventory Up 0.9 %
Shares of FTNT traded up $0.52 throughout buying and selling on Thursday, reaching $60.91. The corporate’s inventory had a buying and selling quantity of 707,099 shares, in comparison with its common quantity of 5,285,643. Fortinet, Inc. has a twelve month low of $42.61 and a twelve month excessive of $71.52. The corporate has a market cap of $47.76 billion, a price-to-earnings ratio of 56.55, a P/E/G ratio of two.90 and a beta of 1.14. The corporate has a fifty day shifting common of $55.55 and a two-hundred day shifting common of $52.87.
Fortinet (NASDAQ:FTNT – Get Score) final posted its quarterly earnings outcomes on Tuesday, February seventh. The software program maker reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. The agency had income of $1.28 billion for the quarter, in comparison with analysts’ expectations of $1.30 billion. Fortinet had a web margin of 19.41% and a destructive return on fairness of 309.63%. The agency’s quarterly income was up 33.1% on a year-over-year foundation. Throughout the identical interval within the prior yr, the corporate posted $0.19 earnings per share. As a bunch, equities analysts forecast that Fortinet, Inc. will publish 1.14 EPS for the present fiscal yr.
About Fortinet
(Get Score)
Fortinet, Inc gives cybersecurity options to a wide range of companies, corresponding to enterprises, communication service suppliers and small companies. It operates via the next segments: Community Safety, Infrastructure Safety, Cloud Safety, and Endpoint Safety, Web of Issues and Operational Expertise.
See Additionally
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This prompt information alert was generated by narrative science know-how and monetary information from MarketBeat with the intention to present readers with the quickest and most correct reporting. This story was reviewed by MarketBeat’s editorial group previous to publication. Please ship any questions or feedback about this story to [email protected].
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