Fortinet, Inc. (NASDAQ:FTNT) is E. Ohman J or Asset Management AB’s 10th Largest Position

E. Ohman J or Asset Management AB decreased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 5.9% during the fourth quarter, HoldingsChannel reports. The fund owned 787,978 shares of the software maker’s stock after selling 49,383 shares during the quarter. Fortinet comprises about 1.7% of E. Ohman J or Asset Management AB’s investment portfolio, making the stock its 10th biggest holding. E. Ohman J or Asset Management AB’s holdings in Fortinet were worth $74,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC grew its position in Fortinet by 1.6% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 6,833 shares of the software maker’s stock worth $646,000 after buying an additional 107 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Fortinet by 13.1% during the fourth quarter. Versant Capital Management Inc now owns 1,106 shares of the software maker’s stock worth $104,000 after purchasing an additional 128 shares in the last quarter. Diversified Trust Co increased its position in shares of Fortinet by 0.6% in the fourth quarter. Diversified Trust Co now owns 23,852 shares of the software maker’s stock worth $2,254,000 after purchasing an additional 135 shares during the last quarter. Eagle Capital Management LLC lifted its position in Fortinet by 0.6% during the third quarter. Eagle Capital Management LLC now owns 25,772 shares of the software maker’s stock valued at $1,999,000 after purchasing an additional 141 shares during the last quarter. Finally, OneDigital Investment Advisors LLC grew its stake in Fortinet by 3.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,782 shares of the software maker’s stock worth $293,000 after buying an additional 141 shares in the last quarter. 83.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Ken Xie sold 23,044 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $93.32, for a total transaction of $2,150,466.08. Following the completion of the sale, the chief executive officer now owns 49,039,698 shares of the company’s stock, valued at $4,576,384,617.36. The trade was a 0.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Keith Jensen sold 4,250 shares of Fortinet stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.83, for a total value of $386,027.50. Following the transaction, the chief financial officer now owns 4,689 shares in the company, valued at $425,901.87. This trade represents a 47.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,860 shares of company stock worth $6,469,056 in the last quarter. Corporate insiders own 18.00% of the company’s stock.

Fortinet Trading Up 0.0 %

Shares of NASDAQ FTNT opened at $100.90 on Tuesday. Fortinet, Inc. has a 1 year low of $54.57 and a 1 year high of $102.87. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.34 and a quick ratio of 1.25. The firm has a 50-day moving average of $96.57 and a 200 day moving average of $83.61. The stock has a market cap of $77.33 billion, a P/E ratio of 50.96, a price-to-earnings-growth ratio of 2.65 and a beta of 1.01.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Thursday, November 7th. The software maker reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.13. Fortinet had a return on equity of 973.30% and a net margin of 26.79%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the business posted $0.35 EPS. As a group, sell-side analysts expect that Fortinet, Inc. will post 1.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FTNT has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on shares of Fortinet from $99.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Rosenblatt Securities lifted their price target on Fortinet from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Robert W. Baird reiterated a “neutral” rating and set a $112.00 price objective (up from $105.00) on shares of Fortinet in a research report on Monday. Wedbush upped their target price on Fortinet from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, Barclays boosted their price objective on shares of Fortinet from $85.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $97.73.

Fortinet Company 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.