2,221 Shares in Fortinet, Inc. (NASDAQ:FTNT) Purchased by Lineweaver Wealth Advisors LLC

Lineweaver Wealth Advisors LLC bought a new stake in Fortinet, Inc. (NASDAQ:FTNT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,221 shares of the software maker’s stock, valued at approximately $210,000.

A number of other large investors also recently modified their holdings of the business. Allegiance Financial Group Advisory Services LLC bought a new position in Fortinet during the fourth quarter worth $381,000. Nwam LLC acquired a new stake in Fortinet in the 4th quarter worth $203,000. Stegent Equity Advisors Inc. bought a new position in shares of Fortinet during the 4th quarter worth about $269,000. NewEdge Wealth LLC raised its position in shares of Fortinet by 1.2% during the fourth quarter. NewEdge Wealth LLC now owns 381,206 shares of the software maker’s stock valued at $36,016,000 after buying an additional 4,501 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of Fortinet by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 54,526 shares of the software maker’s stock valued at $5,152,000 after buying an additional 200 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Trading Up 0.9 %

Shares of NASDAQ FTNT opened at $109.02 on Thursday. Fortinet, Inc. has a 1-year low of $54.57 and a 1-year high of $114.82. The company has a current ratio of 1.47, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. The company has a 50-day moving average of $100.85 and a two-hundred day moving average of $89.36. The company has a market cap of $83.56 billion, a PE ratio of 48.24, a P/E/G ratio of 4.19 and a beta of 1.01.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Thursday, February 6th. The software maker reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. Fortinet had a net margin of 29.30% and a return on equity of 256.53%. As a group, equities analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Fortinet from $99.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Wedbush boosted their price objective on Fortinet from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Guggenheim reaffirmed a “neutral” rating on shares of Fortinet in a research report on Friday, February 7th. TD Cowen lifted their price target on shares of Fortinet from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, KeyCorp upgraded shares of Fortinet from a “sector weight” rating to an “overweight” rating and set a $115.00 price objective for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Fortinet has a consensus rating of “Hold” and an average target price of $103.72.

Insider Activity

In other news, Director William H. Neukom acquired 355 shares of the company’s stock in a transaction on Friday, December 6th. The stock was purchased at an average cost of $98.50 per share, with a total value of $34,967.50. Following the acquisition, the director now owns 150,245 shares of the company’s stock, valued at $14,799,132.50. This trade represents a 0.24 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith Jensen sold 23,500 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $113.56, for a total transaction of $2,668,660.00. Following the completion of the transaction, the chief financial officer now directly owns 4,736 shares in the company, valued at $537,820.16. This trade represents a 83.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,460 shares of company stock valued at $7,063,290 over the last 90 days. 18.00% of the stock is owned by company 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.