Edmond DE Rothschild Holding S.A. Makes New $27,000 Investment in Fortinet, Inc. (NASDAQ:FTNT)

Edmond DE Rothschild Holding S.A. purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 286 shares of the software maker’s stock, valued at approximately $27,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Fortinet during the fourth quarter worth $724,048,000. Schroder Investment Management Group bought a new stake in shares of Fortinet in the 4th quarter worth approximately $389,867,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Fortinet by 39.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,622,253 shares of the software maker’s stock worth $720,150,000 after purchasing an additional 2,151,811 shares in the last quarter. Amundi increased its holdings in Fortinet by 36.7% in the 4th quarter. Amundi now owns 6,577,467 shares of the software maker’s stock valued at $631,700,000 after buying an additional 1,766,860 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in Fortinet by 136.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 2,919,952 shares of the software maker’s stock worth $275,877,000 after purchasing an additional 1,682,708 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Activity

In other Fortinet news, Director William H. Neukom purchased 328 shares of the stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $106.33 per share, with a total value of $34,876.24. Following the completion of the transaction, the director now directly owns 300,006 shares in the company, valued at $31,899,637.98. This represents a 0.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ken Xie sold 23,044 shares of the firm’s stock in a transaction that occurred on 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. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 599,988 shares of company stock worth $59,094,530 in the last quarter. Corporate insiders own 18.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Stephens started coverage on Fortinet in a report on Tuesday. They set an “equal weight” rating and a $108.00 target price on the stock. Scotiabank increased their price objective on Fortinet from $115.00 to $135.00 and gave the company a “sector outperform” rating in a research report on Friday, February 7th. The Goldman Sachs Group boosted their target price on Fortinet from $114.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Stifel Nicolaus raised their price target on Fortinet from $103.00 to $115.00 and gave the company a “hold” rating in a report on Friday, February 7th. Finally, Baird R W lowered Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, twenty have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $105.77.

Fortinet Trading Up 1.5 %

NASDAQ:FTNT opened at $98.08 on Thursday. The company has a market cap of $75.42 billion, a P/E ratio of 43.40, a price-to-earnings-growth ratio of 4.19 and a beta of 0.97. Fortinet, Inc. has a twelve month low of $54.57 and a twelve month high of $114.82. The business has a 50 day moving average price of $102.99 and a two-hundred day moving average price of $93.71. The company has a quick ratio of 1.39, a current ratio of 1.47 and a debt-to-equity ratio of 0.67.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Thursday, February 6th. The software maker reported $0.67 EPS 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, analysts expect that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

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.