Fortinet, Inc. (NASDAQ:FTNT) Shares Purchased by ORBA Wealth Advisors L.L.C.

ORBA Wealth Advisors L.L.C. raised its position in Fortinet, Inc. (NASDAQ:FTNT) by 30.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 19,503 shares of the software maker’s stock after buying an additional 4,591 shares during the quarter. ORBA Wealth Advisors L.L.C.’s holdings in Fortinet were worth $1,512,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Sanibel Captiva Trust Company Inc. purchased a new position in Fortinet in the fourth quarter worth $10,394,000. V Square Quantitative Management LLC increased its holdings in shares of Fortinet by 332.2% in the 4th quarter. V Square Quantitative Management LLC now owns 12,049 shares of the software maker’s stock valued at $705,000 after purchasing an additional 9,261 shares in the last quarter. Syon Capital LLC lifted its stake in shares of Fortinet by 17.5% in the fourth quarter. Syon Capital LLC now owns 5,100 shares of the software maker’s stock valued at $299,000 after purchasing an additional 758 shares during the period. EP Wealth Advisors LLC purchased a new stake in Fortinet during the fourth quarter worth about $247,000. Finally, Creekmur Asset Management LLC acquired a new position in Fortinet during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Activity at Fortinet

In other Fortinet news, CEO Ken Xie sold 23,538 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $74.94, for a total transaction of $1,763,937.72. Following the completion of the sale, the chief executive officer now directly owns 48,878,806 shares in the company, valued at $3,662,977,721.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Fortinet news, CEO Ken Xie sold 23,538 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $74.94, for a total transaction of $1,763,937.72. Following the transaction, the chief executive officer now owns 48,878,806 shares in the company, valued at $3,662,977,721.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael Xie sold 24,712 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $56.11, for a total value of $1,386,590.32. Following the completion of the sale, the vice president now directly owns 10,847,018 shares of the company’s stock, valued at $608,626,179.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,210 shares of company stock worth $6,337,801. Company insiders own 18.00% of the company’s stock.

Fortinet Trading Up 0.4 %

Shares of NASDAQ FTNT traded up $0.36 during trading on Friday, hitting $82.83. 765,089 shares of the company traded hands, compared to its average volume of 5,568,345. The firm has a market capitalization of $63.36 billion, a P/E ratio of 48.80, a P/E/G ratio of 2.84 and a beta of 1.00. The company has a quick ratio of 1.22, a current ratio of 1.32 and a debt-to-equity ratio of 3.45. The company has a 50-day moving average price of $74.45 and a 200-day moving average price of $66.07. Fortinet, Inc. has a 1 year low of $44.12 and a 1 year high of $83.04.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Tuesday, August 6th. The software maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.16. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. Fortinet had a negative return on equity of 2,160.10% and a net margin of 23.71%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share. On average, equities analysts predict that Fortinet, Inc. will post 1.74 EPS for the current year.

Analyst Ratings Changes

FTNT has been the topic of several research analyst reports. Piper Sandler raised Fortinet from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Hsbc Global Res raised Fortinet from a “moderate sell” rating to a “hold” rating in a report on Wednesday, August 7th. DZ Bank raised Fortinet from a “sell” rating to a “hold” rating and set a $65.00 price target for the company in a research note on Thursday, August 8th. Cantor Fitzgerald increased their price objective on shares of Fortinet from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Robert W. Baird lifted their target price on shares of Fortinet from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Twenty-three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $72.64.

Fortinet Company 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.