3,426 Shares in Fortinet, Inc. (NASDAQ:FTNT) Purchased by denkapparat Operations GmbH

denkapparat Operations GmbH bought a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,426 shares of the software maker’s stock, valued at approximately $324,000.

Several other institutional investors also recently made changes to their positions in FTNT. Fisher Asset Management LLC increased its position in Fortinet by 29.3% in the third quarter. Fisher Asset Management LLC now owns 37,010 shares of the software maker’s stock worth $2,870,000 after buying an additional 8,392 shares during the period. Loomis Sayles & Co. L P lifted its position in Fortinet by 97.5% in the 3rd quarter. Loomis Sayles & Co. L P now owns 7,086 shares of the software maker’s stock valued at $550,000 after purchasing an additional 3,499 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in Fortinet by 9.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,816 shares of the software maker’s stock valued at $296,000 after purchasing an additional 336 shares during the period. Dai ichi Life Insurance Company Ltd grew its position in Fortinet by 198.5% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 15,037 shares of the software maker’s stock worth $1,166,000 after purchasing an additional 10,000 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Fortinet by 276.3% in the third quarter. FMR LLC now owns 3,685,230 shares of the software maker’s stock valued at $285,790,000 after purchasing an additional 2,705,767 shares during the period. 83.71% of the stock is owned by institutional investors.

Fortinet Price Performance

Shares of FTNT opened at $99.54 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. The firm has a market cap of $76.54 billion, a PE ratio of 44.04, a PEG ratio of 4.19 and a beta of 0.97. Fortinet, Inc. has a twelve month low of $54.57 and a twelve month high of $114.82. The firm’s 50 day moving average price is $102.92 and its 200 day moving average price is $92.99.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. Fortinet had a net margin of 29.30% and a return on equity of 256.53%. As a group, research analysts expect that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on FTNT. UBS Group set a $123.00 price objective on Fortinet in a report on Tuesday, March 18th. Royal Bank of Canada lifted their price objective on shares of Fortinet from $97.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. Stifel Nicolaus increased their target price on shares of Fortinet from $103.00 to $115.00 and gave the company a “hold” rating in a research report on Friday, February 7th. The Goldman Sachs Group boosted their price target on shares of Fortinet from $114.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Fortinet in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $105.69.

Insider Buying and Selling

In other news, Director Kenneth A. Goldman sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $100.00, for a total value of $200,000.00. Following the sale, the director now directly owns 18,612 shares of the company’s stock, valued at approximately $1,861,200. This trade represents a 9.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ken Xie sold 23,044 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $93.32, for a total value of $2,150,466.08. Following the transaction, the chief executive officer now directly owns 49,039,698 shares of the company’s stock, valued at $4,576,384,617.36. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 599,988 shares of company stock worth $59,094,530. 18.00% of the stock is currently owned by insiders.

Fortinet 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.