Aptus Capital Advisors LLC Purchases 1,325 Shares of Fortinet, Inc. (NASDAQ:FTNT)

Aptus Capital Advisors LLC increased its position in shares of Fortinet, Inc. (NASDAQ:FTNTFree Report) by 44.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,330 shares of the software maker’s stock after acquiring an additional 1,325 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Fortinet were worth $254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of FTNT. GeoWealth Management LLC bought a new position in Fortinet during the 2nd quarter worth approximately $30,000. Retirement Group LLC bought a new position in Fortinet during the 4th quarter worth approximately $30,000. Resurgent Financial Advisors LLC bought a new position in Fortinet in the fourth quarter valued at approximately $31,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Fortinet in the third quarter valued at approximately $37,000. Finally, ST Germain D J Co. Inc. bought a new position in Fortinet in the second quarter valued at approximately $40,000. Institutional investors own 65.00% of the company’s stock.

Insider Buying and Selling at Fortinet

In other Fortinet news, VP Michael Xie sold 38,369 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $66.45, for a total transaction of $2,549,620.05. Following the completion of the sale, the vice president now owns 29,887,018 shares of the company’s stock, valued at approximately $1,985,992,346.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Michael Xie sold 38,369 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $66.45, for a total value of $2,549,620.05. Following the transaction, the vice president now directly owns 29,887,018 shares in the company, valued at approximately $1,985,992,346.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Patrice Perche sold 7,535 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $58.22, for a total value of $438,687.70. Following the transaction, the executive vice president now owns 25,730 shares in the company, valued at $1,498,000.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,332 shares of company stock valued at $8,704,410. 17.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FTNT has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of Fortinet from $52.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, December 11th. Wells Fargo & Company lifted their price target on shares of Fortinet from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Susquehanna boosted their price objective on shares of Fortinet from $55.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Daiwa Capital Markets lowered shares of Fortinet from a “buy” rating to a “neutral” rating and set a $62.00 price objective on the stock. in a research report on Wednesday, January 17th. Finally, Needham & Company LLC assumed coverage on shares of Fortinet in a research report on Wednesday, October 25th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.13.

Get Our Latest Report on FTNT

Fortinet Stock Up 3.8 %

FTNT stock opened at $70.44 on Monday. The stock has a market capitalization of $54.09 billion, a P/E ratio of 48.58, a price-to-earnings-growth ratio of 3.14 and a beta of 1.09. The company has a current ratio of 1.19, a quick ratio of 1.06 and a debt-to-equity ratio of 13.38. Fortinet, Inc. has a 12 month low of $44.12 and a 12 month high of $81.24. The firm has a 50-day moving average price of $60.53 and a 200-day moving average price of $59.24.

Fortinet (NASDAQ:FTNTGet Free Report) last posted its earnings results on Monday, February 5th. The software maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Fortinet had a net margin of 21.64% and a negative return on equity of 7,572.46%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. As a group, equities research analysts anticipate that Fortinet, Inc. will post 1.39 EPS for the current fiscal year.

About Fortinet

(Free Report)

Fortinet, Inc provides cybersecurity and networking solutions worldwide. It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, web filtering, anti-spam, and wide area network acceleration.

Further Reading

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Institutional Ownership by Quarter for Fortinet (NASDAQ:FTNT)

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