Hantz Financial Services Inc. Sells 410 Shares of Fortinet, Inc. (NASDAQ:FTNT)

Hantz Financial Services Inc. reduced its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 4.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,275 shares of the software maker’s stock after selling 410 shares during the quarter. Hantz Financial Services Inc.’s holdings in Fortinet were worth $719,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its stake in shares of Fortinet by 543.5% during the first quarter. Cetera Investment Advisers now owns 157,319 shares of the software maker’s stock worth $10,765,000 after buying an additional 132,871 shares during the last quarter. Cetera Advisors LLC grew its holdings in Fortinet by 91.6% during the 1st quarter. Cetera Advisors LLC now owns 33,223 shares of the software maker’s stock worth $2,269,000 after acquiring an additional 15,880 shares during the period. Versant Capital Management Inc raised its position in shares of Fortinet by 61.2% during the 2nd quarter. Versant Capital Management Inc now owns 627 shares of the software maker’s stock valued at $38,000 after acquiring an additional 238 shares during the last quarter. Mather Group LLC. lifted its stake in shares of Fortinet by 57.0% in the 2nd quarter. Mather Group LLC. now owns 6,035 shares of the software maker’s stock valued at $364,000 after purchasing an additional 2,190 shares during the period. Finally, CWM LLC boosted its position in shares of Fortinet by 41.8% in the 2nd quarter. CWM LLC now owns 39,270 shares of the software maker’s stock worth $2,367,000 after purchasing an additional 11,581 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Fortinet

In other Fortinet news, CEO Ken Xie sold 23,307 shares of Fortinet stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $81.89, for a total transaction of $1,908,610.23. Following the completion of the transaction, the chief executive officer now directly owns 48,915,530 shares of the company’s stock, valued at $4,005,692,751.70. The trade was a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Keith Jensen sold 4,250 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.83, for a total transaction of $386,027.50. Following the completion of the transaction, the chief financial officer now directly owns 4,689 shares in the company, valued at $425,901.87. The trade was a 47.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,745 shares of company stock worth $5,746,974 in the last ninety days. Insiders own 18.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on FTNT. Hsbc Global Res upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Scotiabank boosted their target price on Fortinet from $85.00 to $110.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 20th. HSBC raised shares of Fortinet from a “hold” rating to a “buy” rating and lifted their price target for the stock from $83.00 to $111.00 in a research report on Monday, November 11th. Cantor Fitzgerald upped their price objective on shares of Fortinet from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, Wedbush lifted their target price on Fortinet from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Fortinet has a consensus rating of “Hold” and a consensus target price of $88.93.

Fortinet Trading Up 1.1 %

NASDAQ FTNT opened at $95.05 on Monday. The company has a market cap of $72.85 billion, a PE ratio of 48.01, a PEG ratio of 2.76 and a beta of 1.00. The company has a current ratio of 1.34, a quick ratio of 1.25 and a debt-to-equity ratio of 1.09. The stock has a 50 day moving average of $84.33 and a 200-day moving average of $71.61. Fortinet, Inc. has a 12 month low of $50.65 and a 12 month high of $100.59.

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.