Three Seasons Wealth LLC Takes $390,000 Position in Fortinet, Inc. (NASDAQ:FTNT)

Three Seasons Wealth LLC bought a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 4th quarter, Holdings Channel.com reports. The firm bought 4,123 shares of the software maker’s stock, valued at approximately $390,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FTNT. Edmond DE Rothschild Holding S.A. acquired a new position in Fortinet in the fourth quarter valued at $27,000. Oarsman Capital Inc. boosted its position in shares of Fortinet by 188.9% during the 4th quarter. Oarsman Capital Inc. now owns 416 shares of the software maker’s stock worth $39,000 after purchasing an additional 272 shares in the last quarter. Graney & King LLC acquired a new position in shares of Fortinet during the fourth quarter worth approximately $43,000. Golden State Wealth Management LLC bought a new position in shares of Fortinet in the 4th quarter worth $46,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Fortinet in the 4th quarter valued at $56,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Performance

Shares of Fortinet stock opened at $100.72 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.47 and a quick ratio of 1.39. The stock has a market cap of $77.45 billion, a price-to-earnings ratio of 44.57, a PEG ratio of 4.19 and a beta of 1.09. Fortinet, Inc. has a 1 year low of $54.57 and a 1 year high of $114.82. The firm’s 50-day moving average is $99.58 and its 200 day moving average is $95.68.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Rosenblatt Securities raised their price objective on shares of Fortinet from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Citigroup raised their target price on Fortinet from $100.00 to $101.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Stephens started coverage on Fortinet in a research report on Tuesday, April 1st. They issued an “equal weight” rating and a $108.00 target price for the company. Stifel Nicolaus boosted their price target 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. Finally, Guggenheim reiterated a “neutral” rating on shares of Fortinet in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, twenty-one have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $104.77.

Insiders Place Their Bets

In other Fortinet news, CEO Ken Xie sold 206,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $96.93, for a total value of $19,967,580.00. Following the transaction, the chief executive officer now owns 51,391,879 shares of the company’s stock, valued at approximately $4,981,414,831.47. This represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael Xie sold 326,784 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $98.17, for a total transaction of $32,080,385.28. Following the completion of the transaction, the vice president now directly owns 11,000,068 shares in the company, valued at approximately $1,079,876,675.56. The trade was a 2.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 576,944 shares of company stock valued at $56,944,064. 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.