Fielder Capital Group LLC Buys 111 Shares of Fortinet, Inc. (NASDAQ:FTNT)

Fielder Capital Group LLC boosted its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,904 shares of the software maker’s stock after acquiring an additional 111 shares during the period. Fielder Capital Group LLC’s holdings in Fortinet were worth $652,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Fortinet during the 3rd quarter valued at $26,000. Private Wealth Management Group LLC boosted its stake in Fortinet by 73.3% during the third quarter. Private Wealth Management Group LLC now owns 409 shares of the software maker’s stock valued at $32,000 after buying an additional 173 shares during the period. Golden State Wealth Management LLC purchased a new position in Fortinet during the fourth quarter worth about $46,000. R Squared Ltd bought a new position in Fortinet in the 4th quarter worth about $65,000. Finally, Venturi Wealth Management LLC raised its holdings in shares of Fortinet by 30.6% in the 4th quarter. Venturi Wealth Management LLC now owns 696 shares of the software maker’s stock valued at $66,000 after acquiring an additional 163 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling

In other 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Keith Jensen sold 17,660 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $109.18, for a total transaction of $1,928,118.80. Following the completion of the transaction, the chief financial officer now owns 4,736 shares of the company’s stock, valued at approximately $517,076.48. The trade was a 78.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,120 shares of company stock valued at $8,991,409 over the last three months. Corporate insiders own 18.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on FTNT shares. Wells Fargo & Company upped their price objective on shares of Fortinet from $85.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. The Goldman Sachs Group increased their price target on shares of Fortinet from $114.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Mizuho lifted their price objective on shares of Fortinet from $68.00 to $78.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. TD Cowen increased their target price on Fortinet from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $112.00 price target (up previously from $105.00) on shares of Fortinet in a research note on Monday, February 3rd. One 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $103.72.

Fortinet Price Performance

FTNT opened at $107.09 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 stock has a market capitalization of $82.08 billion, a PE ratio of 47.39, a price-to-earnings-growth ratio of 4.19 and a beta of 1.01. The stock’s 50 day moving average price is $101.09 and its 200-day moving average price is $89.48. Fortinet, Inc. has a 52-week low of $54.57 and a 52-week high of $114.82.

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, beating 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%. On average, equities research analysts predict that Fortinet, Inc. will post 2.09 EPS for the current year.

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.