AE Wealth Management LLC lifted its position in shares of Fortinet, Inc. (NASDAQ:FTNT – Get Rating) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 191,065 shares of the software maker’s stock after buying an additional 4,881 shares during the period. AE Wealth Management LLC’s holdings in Fortinet were worth $9,341,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of FTNT. Alliancebernstein L.P. boosted its position in shares of Fortinet by 17.2% during the third quarter. Alliancebernstein L.P. now owns 23,140,642 shares of the software maker’s stock worth $1,136,900,000 after buying an additional 3,403,145 shares during the period. Anomaly Capital Management LP boosted its position in Fortinet by 155.1% during the third quarter. Anomaly Capital Management LP now owns 3,405,261 shares of the software maker’s stock valued at $167,300,000 after purchasing an additional 2,070,301 shares during the last quarter. Van ECK Associates Corp boosted its position in Fortinet by 2,099.2% during the third quarter. Van ECK Associates Corp now owns 1,800,495 shares of the software maker’s stock valued at $88,459,000 after purchasing an additional 1,718,625 shares during the last quarter. Marshall Wace LLP boosted its position in Fortinet by 28.3% during the third quarter. Marshall Wace LLP now owns 4,851,276 shares of the software maker’s stock valued at $238,344,000 after purchasing an additional 1,069,367 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its position in Fortinet by 3,682.3% during the third quarter. Eagle Asset Management Inc. now owns 980,567 shares of the software maker’s stock valued at $48,175,000 after purchasing an additional 954,642 shares during the last quarter. 64.35% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, Director William H. Neukom acquired 423 shares of Fortinet stock in a transaction that occurred on Tuesday, April 11th. The shares were acquired at an average price of $67.40 per share, for a total transaction of $28,510.20. Following the transaction, the director now directly owns 290,716 shares of the company’s stock, valued at approximately $19,594,258.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director William H. Neukom acquired 423 shares of Fortinet stock in a transaction that occurred on Tuesday, April 11th. The shares were acquired at an average price of $67.40 per share, for a total transaction of $28,510.20. Following the transaction, the director now directly owns 290,716 shares of the company’s stock, valued at approximately $19,594,258.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael Xie sold 240,046 shares of the business’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $53.72, for a total value of $12,895,271.12. Following the sale, the vice president now owns 29,727,018 shares in the company, valued at approximately $1,596,935,406.96. The disclosure for this sale can be found here. Insiders have sold 932,484 shares of company stock worth $53,877,379 in the last 90 days. Insiders own 18.60% of the company’s stock.
Analyst Upgrades and Downgrades
Fortinet Stock Performance
Shares of FTNT stock opened at $68.07 on Friday. The stock’s fifty day moving average price is $61.91 and its two-hundred day moving average price is $55.13. The company has a market cap of $53.37 billion, a PE ratio of 63.62, a P/E/G ratio of 3.29 and a beta of 1.16. Fortinet, Inc. has a fifty-two week low of $42.61 and a fifty-two week high of $71.52.
Fortinet (NASDAQ:FTNT – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The software maker reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.30 billion. Fortinet had a negative return on equity of 309.63% and a net margin of 19.41%. Fortinet’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter last year, the business posted $0.19 EPS. On average, equities analysts predict that Fortinet, Inc. will post 1.14 EPS for the current fiscal year.
Fortinet Profile
Fortinet, Inc provides cybersecurity solutions to a variety of businesses, such as enterprises, communication service providers and small businesses. It operates through the following segments: Network Security, Infrastructure Security, Cloud Security, and Endpoint Protection, Internet of Things and Operational Technology.
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