Warther Private Wealth LLC Has $10.23 Million Holdings in Fortinet, Inc. (NASDAQ:FTNT)

Warther Private Wealth LLC decreased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 5.1% in the 4th quarter, Holdings Channel reports. The fund owned 108,300 shares of the software maker’s stock after selling 5,850 shares during the period. Fortinet accounts for 3.4% of Warther Private Wealth LLC’s investment portfolio, making the stock its 12th largest holding. Warther Private Wealth LLC’s holdings in Fortinet were worth $10,232,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC increased its holdings in Fortinet by 276.3% in the 3rd quarter. FMR LLC now owns 3,685,230 shares of the software maker’s stock worth $285,790,000 after purchasing an additional 2,705,767 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Fortinet by 3,155.6% in the third quarter. Los Angeles Capital Management LLC now owns 1,237,244 shares of the software maker’s stock valued at $95,948,000 after buying an additional 1,199,241 shares during the period. State Street Corp raised its holdings in Fortinet by 2.9% in the 3rd quarter. State Street Corp now owns 27,281,279 shares of the software maker’s stock valued at $2,115,663,000 after buying an additional 766,135 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its position in Fortinet by 98.9% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,457,858 shares of the software maker’s stock worth $113,057,000 after buying an additional 724,887 shares during the period. Finally, Bank of Montreal Can grew its holdings in Fortinet by 27.6% during the 3rd quarter. Bank of Montreal Can now owns 2,584,528 shares of the software maker’s stock worth $200,172,000 after acquiring an additional 558,807 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Stock Performance

FTNT opened at $108.33 on Wednesday. Fortinet, Inc. has a 1-year low of $54.57 and a 1-year high of $110.99. The company has a market cap of $83.03 billion, a price-to-earnings ratio of 47.93, a PEG ratio of 2.75 and a beta of 1.01. The company’s fifty day moving average price is $97.93 and its two-hundred day moving average price is $85.67. The company has a current ratio of 1.34, a quick ratio of 1.25 and a debt-to-equity ratio of 1.09.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Thursday, February 6th. The software maker reported $0.67 earnings per share 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 463.85%. On average, analysts expect that Fortinet, Inc. will post 2.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FTNT shares. Stifel Nicolaus raised their price target on shares of Fortinet from $103.00 to $115.00 and gave the company a “hold” rating in a research note on Friday, February 7th. Mizuho raised their target price on Fortinet from $68.00 to $78.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. BMO Capital Markets upped their price target on Fortinet from $88.00 to $100.00 and gave the company a “market perform” rating in a research report on Tuesday, November 19th. Truist Financial restated a “buy” rating and set a $105.00 price objective (up from $85.00) on shares of Fortinet in a research report on Wednesday, November 20th. Finally, The Goldman Sachs Group upped their target price on Fortinet from $114.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $102.77.

Insider Activity

In other Fortinet news, CEO Ken Xie sold 23,044 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $93.32, for a total value of $2,150,466.08. Following the completion of the sale, the chief executive officer now directly owns 49,039,698 shares of the company’s stock, valued at approximately $4,576,384,617.36. This represents a 0.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William H. Neukom bought 355 shares of the company’s stock in a transaction on Friday, December 6th. The shares were purchased at an average cost of $98.50 per share, for a total transaction of $34,967.50. Following the transaction, the director now owns 150,245 shares in the company, valued at approximately $14,799,132.50. This represents a 0.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 67,860 shares of company stock worth $6,469,056 over the last 90 days. 18.00% of the stock is currently owned by corporate insiders.

About Fortinet

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.