Fortinet, Inc. (NASDAQ:FTNT) Stock Position Raised by Exencial Wealth Advisors LLC

Exencial Wealth Advisors LLC lifted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT – Get Rating) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,485 shares of the software maker’s stock after buying an additional 39 shares during the period. Exencial Wealth Advisors LLC’s holdings in Fortinet were worth $534,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in FTNT. Amundi Pioneer Asset Management Inc. grew its position in shares of Fortinet by 5.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 52,725 shares of the software maker’s stock valued at $4,429,000 after buying an additional 2,678 shares during the last quarter. IndexIQ Advisors LLC grew its position in shares of Fortinet by 5.3% during the 3rd quarter. IndexIQ Advisors LLC now owns 2,413 shares of the software maker’s stock valued at $705,000 after buying an additional 121 shares during the last quarter. Mutual of America Capital Management LLC grew its position in Fortinet by 0.4% in the 3rd quarter. Mutual of America Capital Management LLC now owns 24,685 shares of the software maker’s stock worth $7,209,000 after purchasing an additional 99 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Fortinet by 0.3% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 40,097 shares of the software maker’s stock worth $11,710,000 after purchasing an additional 120 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in Fortinet by 0.4% in the 3rd quarter. California Public Employees Retirement System now owns 301,273 shares of the software maker’s stock worth $87,984,000 after purchasing an additional 1,060 shares during the last quarter. 67.47% of the stock is owned by institutional investors and hedge funds.

In other Fortinet news, VP John Whittle sold 1,704 shares of the company’s stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of $315.50, for a total value of $537,612.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Keith Jensen sold 3,127 shares of the company’s stock in a transaction that occurred on Thursday, February 24th. The shares were sold at an average price of $316.36, for a total transaction of $989,257.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,084 shares of company stock worth $3,066,567. Company insiders own 18.60% of the company’s stock.

Several research firms have commented on FTNT. StockNews.com began coverage on shares of Fortinet in a research report on Thursday, March 31st. They issued a “hold” rating for the company. BMO Capital Markets decreased their target price on shares of Fortinet from $360.00 to $325.00 in a research report on Thursday, May 12th. Raymond James decreased their target price on shares of Fortinet from $380.00 to $350.00 and set an “outperform” rating for the company in a research report on Friday, February 4th. Barclays upgraded shares of Fortinet from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $364.00 to $395.00 in a research report on Tuesday, March 29th. Finally, KeyCorp decreased their target price on shares of Fortinet from $410.00 to $353.00 in a research report on Wednesday, May 11th. Nine analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $355.29.

Shares of NASDAQ:FTNT opened at $275.57 on Tuesday. The company has a debt-to-equity ratio of 4.24, a quick ratio of 1.20 and a current ratio of 1.28. The company has a market cap of $44.24 billion, a PE ratio of 72.14, a price-to-earnings-growth ratio of 4.13 and a beta of 1.21. Fortinet, Inc. has a 52 week low of $200.27 and a 52 week high of $371.77. The firm has a 50 day simple moving average of $310.34 and a 200 day simple moving average of $318.02.

Fortinet (NASDAQ:FTNT – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The software maker reported $0.84 EPS for the quarter, beating the consensus estimate of $0.50 by $0.34. The business had revenue of $954.80 million during the quarter, compared to the consensus estimate of $886.45 million. Fortinet had a net margin of 17.79% and a return on equity of 67.94%. The firm’s quarterly revenue was up 34.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 EPS. On average, equities analysts predict that Fortinet, Inc. will post 3.79 earnings per share for the current year.

Fortinet Company Profile (Get Rating)

Fortinet, Inc provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, web filtering, anti-spam, and wide area network acceleration.

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