Consilium Wealth Advisory LLC Acquires Shares of 5,435 Fortinet, Inc. (NASDAQ:FTNT)

Consilium Wealth Advisory LLC acquired a new stake in Fortinet, Inc. (NASDAQ:FTNT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,435 shares of the software maker’s stock, valued at approximately $523,000.

Other institutional investors also recently bought and sold shares of the company. SJS Investment Consulting Inc. increased its stake in Fortinet by 703.1% in the first quarter. SJS Investment Consulting Inc. now owns 257 shares of the software maker’s stock valued at $25,000 after purchasing an additional 225 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new position in Fortinet in the fourth quarter valued at $27,000. Oarsman Capital Inc. increased its stake in Fortinet by 188.9% in the fourth quarter. Oarsman Capital Inc. now owns 416 shares of the software maker’s stock valued at $39,000 after purchasing an additional 272 shares during the period. Graney & King LLC acquired a new position in Fortinet in the fourth quarter valued at $43,000. Finally, Banque Transatlantique SA acquired a new position in Fortinet in the fourth quarter valued at $43,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Stock Up 1.1%

Shares of NASDAQ FTNT opened at $101.95 on Tuesday. Fortinet, Inc. has a 12-month low of $54.57 and a 12-month high of $114.82. The company has a market capitalization of $78.03 billion, a PE ratio of 45.11, a price-to-earnings-growth ratio of 4.19 and a beta of 1.06. 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 firm’s 50-day moving average is $101.66 and its two-hundred day moving average is $100.19.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, May 7th. The software maker reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. Fortinet had a net margin of 29.30% and a return on equity of 256.53%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FTNT shares. BMO Capital Markets dropped their price objective on shares of Fortinet from $122.00 to $110.00 and set a “market perform” rating on the stock in a research note on Thursday, May 8th. Wells Fargo & Company dropped their price target on shares of Fortinet from $105.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 8th. Cantor Fitzgerald dropped their price target on shares of Fortinet from $115.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Stephens began coverage on shares of Fortinet in a research note on Tuesday, April 1st. They set an “equal weight” rating and a $108.00 price target on the stock. Finally, UBS Group dropped their price target on shares of Fortinet from $115.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, twenty have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Fortinet has a consensus rating of “Hold” and an average price target of $104.80.

Insider Activity at Fortinet

In related news, VP Michael Xie sold 3,546 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $106.11, for a total transaction of $376,266.06. Following the transaction, the vice president now owns 11,000,068 shares of the company’s stock, valued at approximately $1,167,217,215.48. This represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ken Xie sold 158,488 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $106.10, for a total transaction of $16,815,576.80. Following the transaction, the chief executive officer now directly owns 51,391,879 shares in the company, valued at approximately $5,452,678,361.90. This represents a 0.31% decrease in their position. The disclosure for this sale can be found here. Insiders own 17.20% of the company’s stock.

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.