Fortinet, Inc. (NASDAQ:FTNT) Stock Holdings Increased by Sarasin & Partners LLP

Sarasin & Partners LLP grew its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 1.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,951,234 shares of the software maker’s stock after purchasing an additional 20,337 shares during the quarter. Fortinet accounts for 2.0% of Sarasin & Partners LLP’s portfolio, making the stock its 19th largest position. Sarasin & Partners LLP owned about 0.25% of Fortinet worth $184,353,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FTNT. Marshall Wace LLP increased its position in shares of Fortinet by 198.5% during the 2nd quarter. Marshall Wace LLP now owns 6,238,856 shares of the software maker’s stock valued at $376,016,000 after purchasing an additional 4,148,520 shares during the period. FMR LLC increased its position in shares of Fortinet by 276.3% during the 3rd quarter. FMR LLC now owns 3,685,230 shares of the software maker’s stock valued at $285,790,000 after purchasing an additional 2,705,767 shares during the period. AQR Capital Management LLC increased its position in shares of Fortinet by 89.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,675,644 shares of the software maker’s stock valued at $161,261,000 after purchasing an additional 1,265,162 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of Fortinet by 3,155.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,237,244 shares of the software maker’s stock worth $95,948,000 after acquiring an additional 1,199,241 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Fortinet by 2.9% in the 3rd quarter. State Street Corp now owns 27,281,279 shares of the software maker’s stock worth $2,115,663,000 after acquiring an additional 766,135 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fortinet

In other news, Director William H. Neukom purchased 355 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were purchased at an average cost of $98.50 per share, for a total transaction of $34,967.50. Following the completion of the purchase, the director now directly owns 150,245 shares of the company’s stock, valued at approximately $14,799,132.50. The trade was a 0.24 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Keith Jensen sold 4,250 shares of the business’s stock in a transaction dated 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 represents a 47.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,860 shares of company stock worth $6,469,056 over the last three months. Company insiders own 18.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Rosenblatt Securities lifted their target price on Fortinet from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Hsbc Global Res upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Deutsche Bank Aktiengesellschaft lifted their target price on Fortinet from $77.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, November 19th. KeyCorp upgraded Fortinet from a “sector weight” rating to an “overweight” rating and set a $115.00 target price on the stock in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. lifted their price target on Fortinet from $99.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $96.17.

Fortinet Price Performance

NASDAQ FTNT opened at $94.23 on Monday. Fortinet, Inc. has a twelve month low of $54.57 and a twelve month high of $101.00. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.25 and a current ratio of 1.34. The stock has a market capitalization of $72.22 billion, a PE ratio of 47.59, a P/E/G ratio of 2.51 and a beta of 1.00. The stock has a 50-day simple moving average of $95.68 and a 200 day simple moving average of $80.61.

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.