Human Investing LLC Takes $205,000 Position in Fortinet, Inc. (NASDAQ:FTNT)

Human Investing LLC acquired a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,171 shares of the software maker’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Hawaiian Bank bought a new stake in shares of Fortinet in the fourth quarter worth $670,000. LVM Capital Management Ltd. MI increased its stake in shares of Fortinet by 10.7% in the fourth quarter. LVM Capital Management Ltd. MI now owns 89,827 shares of the software maker’s stock worth $8,487,000 after buying an additional 8,707 shares during the last quarter. Apollon Wealth Management LLC increased its stake in shares of Fortinet by 7.6% in the third quarter. Apollon Wealth Management LLC now owns 15,296 shares of the software maker’s stock worth $1,186,000 after buying an additional 1,081 shares during the last quarter. Trilogy Capital Inc. increased its stake in shares of Fortinet by 17.8% in the fourth quarter. Trilogy Capital Inc. now owns 23,499 shares of the software maker’s stock worth $2,220,000 after buying an additional 3,544 shares during the last quarter. Finally, Forsta AP Fonden increased its stake in shares of Fortinet by 11.8% in the third quarter. Forsta AP Fonden now owns 135,500 shares of the software maker’s stock worth $10,508,000 after buying an additional 14,300 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $111.64 on Monday. Fortinet, Inc. has a twelve month low of $54.57 and a twelve month high of $112.37. The company has a current ratio of 1.34, a quick ratio of 1.25 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $85.57 billion, a price-to-earnings ratio of 49.40, a PEG ratio of 2.75 and a beta of 1.01. The firm has a 50-day moving average of $98.60 and a two-hundred day moving average of $86.77.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $0.67 earnings per share 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 463.85%. As a group, analysts expect that Fortinet, Inc. will post 2.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FTNT. Baird R W lowered shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Stifel Nicolaus boosted their target price on shares of Fortinet from $103.00 to $115.00 and gave the company a “hold” rating in a research note on Friday, February 7th. StockNews.com upgraded shares of Fortinet from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Truist Financial reiterated a “buy” rating and set a $105.00 target price (up previously from $85.00) on shares of Fortinet in a research note on Wednesday, November 20th. Finally, Jefferies Financial Group boosted their target price on shares of Fortinet from $95.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $103.72.

Insider Buying and Selling at Fortinet

In other Fortinet news, CFO Keith Jensen sold 17,650 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $95.66, for a total value of $1,688,399.00. Following the completion of the sale, the chief financial officer now directly owns 4,689 shares of the company’s stock, valued at approximately $448,549.74. This represents a 79.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William H. Neukom acquired 355 shares of the business’s stock in a transaction on Friday, December 6th. The shares were bought at an average price of $98.50 per share, for a total transaction of $34,967.50. Following the acquisition, the director now owns 150,245 shares in the company, valued at approximately $14,799,132.50. This trade represents a 0.24 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 67,860 shares of company stock valued at $6,469,056. 18.00% of the stock is owned by insiders.

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.