Kintegral Advisory LLC Sells 635 Shares of Fortinet, Inc. (NASDAQ:FTNT)

Kintegral Advisory LLC trimmed its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 4.5% in the fourth quarter, HoldingsChannel reports. The firm owned 13,620 shares of the software maker’s stock after selling 635 shares during the quarter. Kintegral Advisory LLC’s holdings in Fortinet were worth $1,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eastern Bank bought a new stake in shares of Fortinet during the 3rd quarter worth about $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Fortinet during the third quarter worth approximately $26,000. Private Wealth Management Group LLC boosted its holdings in shares of Fortinet by 73.3% during the third quarter. Private Wealth Management Group LLC now owns 409 shares of the software maker’s stock worth $32,000 after acquiring an additional 173 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Fortinet in the fourth quarter valued at approximately $46,000. Finally, R Squared Ltd bought a new position in shares of Fortinet during the fourth quarter worth approximately $65,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. HSBC upgraded Fortinet from a “hold” rating to a “buy” rating and boosted their price target for the company from $83.00 to $111.00 in a research note on Monday, November 11th. JPMorgan Chase & Co. upped their price target on shares of Fortinet from $99.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. UBS Group raised their price target on shares of Fortinet from $70.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Jefferies Financial Group boosted their price objective on shares of Fortinet from $95.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Finally, KeyCorp raised shares of Fortinet from a “sector weight” rating to an “overweight” rating and set a $115.00 target price on the stock in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $103.72.

Fortinet Stock Down 3.7 %

Shares of FTNT opened at $110.02 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.47. Fortinet, Inc. has a 52 week low of $54.57 and a 52 week high of $114.82. The stock has a market capitalization of $84.32 billion, a price-to-earnings ratio of 48.68, a PEG ratio of 4.19 and a beta of 1.01. The stock has a fifty day moving average of $100.12 and a 200-day moving average of $88.54.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Thursday, February 6th. The software maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07. Fortinet had a return on equity of 256.53% and a net margin of 29.30%. As a group, sell-side analysts anticipate that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 22,916 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $97.93, for a total transaction of $2,244,163.88. Following the completion of the transaction, the chief executive officer now directly owns 48,983,683 shares of the company’s stock, valued at $4,796,972,076.19. This trade represents a 0.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Keith Jensen sold 23,500 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $113.56, for a total value of $2,668,660.00. Following the completion of the sale, the chief financial officer now owns 4,736 shares in the company, valued at $537,820.16. This trade represents a 83.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 87,110 shares of company stock worth $8,751,689 in the last quarter. 18.00% of the stock is owned by insiders.

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.