Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 2,602.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,297 shares of the software maker’s stock after buying an additional 1,249 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Fortinet were worth $123,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Hawaiian Bank bought a new stake in shares of Fortinet in the 4th quarter worth approximately $670,000. LVM Capital Management Ltd. MI boosted its holdings in Fortinet by 10.7% in the fourth quarter. LVM Capital Management Ltd. MI now owns 89,827 shares of the software maker’s stock valued at $8,487,000 after acquiring an additional 8,707 shares in the last quarter. Apollon Wealth Management LLC increased its position in Fortinet by 7.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 15,296 shares of the software maker’s stock valued at $1,186,000 after purchasing an additional 1,081 shares during the period. Forsta AP Fonden raised its holdings in Fortinet by 11.8% in the 3rd quarter. Forsta AP Fonden now owns 135,500 shares of the software maker’s stock worth $10,508,000 after purchasing an additional 14,300 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Fortinet in the 3rd quarter worth about $10,343,000. 83.71% of the stock is currently owned by institutional investors.
Fortinet Price Performance
Shares of FTNT opened at $94.23 on Friday. The firm has a fifty day simple moving average of $95.68 and a two-hundred day simple moving average of $80.34. The firm has a market cap of $72.22 billion, a PE ratio of 47.59, a P/E/G ratio of 2.51 and a beta of 1.00. The company has a current ratio of 1.34, a quick ratio of 1.25 and a debt-to-equity ratio of 1.09. Fortinet, Inc. has a 1-year low of $54.57 and a 1-year high of $101.00.
Wall Street Analysts Forecast Growth
View Our Latest Stock Analysis on Fortinet
Insider Buying and Selling
In related news, CFO Keith Jensen sold 4,250 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.83, for a total transaction of $386,027.50. Following the completion of the sale, the chief financial officer now directly owns 4,689 shares in the company, valued at approximately $425,901.87. The trade was a 47.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William H. Neukom purchased 355 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was acquired at an average price of $98.50 per share, for a total transaction of $34,967.50. Following the completion of the transaction, the director now directly owns 150,245 shares of the company’s stock, valued at approximately $14,799,132.50. This trade represents a 0.24 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 67,860 shares of company stock valued at $6,469,056 over the last 90 days. Company insiders own 18.00% of the company’s stock.
About Fortinet
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.
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