Curated Wealth Partners LLC Raises Holdings in Fortinet, Inc. (NASDAQ:FTNT)

Curated Wealth Partners LLC increased its stake in Fortinet, Inc. (NASDAQ:FTNT) by 32.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,496 shares of the software maker’s stock after purchasing an additional 1,833 shares during the period. Curated Wealth Partners LLC’s holdings in Fortinet were worth $708,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of FTNT. Benjamin F. Edwards & Company Inc. raised its stake in shares of Fortinet by 190.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,452 shares of the software maker’s stock worth $87,000 after purchasing an additional 952 shares during the last quarter. Public Sector Pension Investment Board raised its position in Fortinet by 82.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 22,460 shares of the software maker’s stock worth $1,354,000 after buying an additional 10,125 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of Fortinet by 5.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 6,571 shares of the software maker’s stock valued at $396,000 after acquiring an additional 360 shares during the last quarter. Insigneo Advisory Services LLC increased its stake in shares of Fortinet by 16.9% in the second quarter. Insigneo Advisory Services LLC now owns 3,804 shares of the software maker’s stock worth $211,000 after acquiring an additional 550 shares during the period. Finally, APG Asset Management US Inc. raised its holdings in shares of Fortinet by 1.6% during the second quarter. APG Asset Management US Inc. now owns 101,812 shares of the software maker’s stock worth $6,093,000 after purchasing an additional 1,577 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling at Fortinet

In other Fortinet news, CEO Ken Xie sold 23,044 shares of Fortinet stock in a transaction dated 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 directly owns 49,039,698 shares in the company, valued at $4,576,384,617.36. This trade represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Neukom acquired 355 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was bought at an average price of $98.50 per share, for a total transaction of $34,967.50. Following the completion of the acquisition, the director now owns 150,245 shares in the company, valued at approximately $14,799,132.50. The trade was a 0.24 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 67,860 shares of company stock worth $6,469,056 over the last quarter. 18.00% of the stock is currently owned by company insiders.

Fortinet Trading Down 0.6 %

Shares of FTNT stock opened at $96.90 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.25 and a debt-to-equity ratio of 1.09. Fortinet, Inc. has a twelve month low of $54.57 and a twelve month high of $101.00. The company’s 50-day moving average price is $95.70 and its 200-day moving average price is $81.59. The stock has a market cap of $74.27 billion, a price-to-earnings ratio of 48.94, a PEG ratio of 2.58 and a beta of 1.00.

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, beating the consensus estimate of $0.43 by $0.13. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Fortinet had a net margin of 26.79% and a return on equity of 973.30%. During the same quarter in the prior year, the company posted $0.35 EPS. As a group, equities analysts predict that Fortinet, Inc. will post 1.95 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on FTNT. Scotiabank upped their price target on shares of Fortinet from $110.00 to $115.00 and gave the company a “sector outperform” rating in a report on Tuesday. BMO Capital Markets raised their target price on Fortinet from $88.00 to $100.00 and gave the stock a “market perform” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. lifted their price target on Fortinet from $99.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Wells Fargo & Company raised their price objective on shares of Fortinet from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 19th. Finally, Piper Sandler upgraded shares of Fortinet from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $100.00 to $120.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $96.83.

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.