Maverick Capital Ltd. purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 14,540 shares of the software maker’s stock, valued at approximately $1,128,000.
A number of other institutional investors have also made changes to their positions in FTNT. Marshall Wace LLP increased its position in Fortinet by 198.5% during the second quarter. Marshall Wace LLP now owns 6,238,856 shares of the software maker’s stock worth $376,016,000 after acquiring an additional 4,148,520 shares during the period. Van ECK Associates Corp raised its holdings in Fortinet by 94.9% in the 2nd quarter. Van ECK Associates Corp now owns 5,755,599 shares of the software maker’s stock valued at $346,890,000 after acquiring an additional 2,802,446 shares in the last quarter. FMR LLC lifted its position in shares of 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 acquiring an additional 2,705,767 shares during the period. AQR Capital Management LLC grew its holdings in shares of Fortinet by 89.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,675,644 shares of the software maker’s stock worth $161,261,000 after purchasing an additional 1,265,162 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Fortinet by 3,155.6% during 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 purchasing an additional 1,199,241 shares during the period. 83.71% of the stock is currently owned by institutional investors.
Insider Activity
In other Fortinet news, CFO Keith Jensen sold 17,650 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $95.66, for a total value of $1,688,399.00. Following the transaction, the chief financial officer now owns 4,689 shares of the company’s stock, valued at approximately $448,549.74. This represents a 79.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ken Xie sold 23,538 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $74.94, for a total value of $1,763,937.72. Following the transaction, the chief executive officer now owns 48,878,806 shares of the company’s stock, valued at $3,662,977,721.64. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,745 shares of company stock valued at $5,746,974. 18.00% of the stock is currently owned by insiders.
Analyst Ratings Changes
Read Our Latest Research Report on Fortinet
Fortinet Price Performance
Shares of FTNT stock opened at $95.05 on Friday. The firm has a market cap of $72.85 billion, a price-to-earnings ratio of 48.01, a PEG ratio of 2.76 and a beta of 1.00. Fortinet, Inc. has a 12 month low of $50.65 and a 12 month high of $100.59. The company has a quick ratio of 1.25, a current ratio of 1.34 and a debt-to-equity ratio of 1.09. The stock has a 50-day moving average price of $84.33 and a 200 day moving average price of $71.53.
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.
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