Fortinet Inc (NASDAQ:FTNT) Shares Acquired by CSat Investment Advisory L.P.

CSat Investment Advisory L.P. grew its holdings in Fortinet Inc (NASDAQ:FTNT) by 207.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 943 shares of the software maker’s stock after buying an additional 636 shares during the period. CSat Investment Advisory L.P.’s holdings in Fortinet were worth $73,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FTNT. Dimensional Fund Advisors LP boosted its holdings in Fortinet by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 462,670 shares of the software maker’s stock worth $32,588,000 after acquiring an additional 66,442 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Fortinet by 1,221.6% during the first quarter. Victory Capital Management Inc. now owns 28,137 shares of the software maker’s stock worth $2,363,000 after purchasing an additional 26,008 shares during the period. TD Asset Management Inc. lifted its holdings in shares of Fortinet by 1.2% during the first quarter. TD Asset Management Inc. now owns 43,714 shares of the software maker’s stock worth $3,671,000 after purchasing an additional 530 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Fortinet by 69.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,631 shares of the software maker’s stock worth $1,648,000 after purchasing an additional 8,079 shares during the period. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of Fortinet by 71.2% during the first quarter. Great West Life Assurance Co. Can now owns 135,002 shares of the software maker’s stock worth $11,303,000 after purchasing an additional 56,158 shares during the period. 70.48% of the stock is owned by institutional investors and hedge funds.

Fortinet stock opened at $78.16 on Wednesday. The stock has a market capitalization of $13.38 billion, a PE ratio of 69.16, a price-to-earnings-growth ratio of 3.91 and a beta of 1.09. Fortinet Inc has a 12 month low of $64.41 and a 12 month high of $96.96. The business has a 50 day simple moving average of $80.12 and a 200-day simple moving average of $82.09.



Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Thursday, August 1st. The software maker reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.28. The business had revenue of $521.70 million during the quarter, compared to analysts’ expectations of $511.38 million. Fortinet had a return on equity of 23.96% and a net margin of 19.07%. The business’s revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. Equities analysts forecast that Fortinet Inc will post 1.43 EPS for the current fiscal year.

In other news, CEO Ken Xie sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $81.33, for a total value of $650,640.00. Following the completion of the sale, the chief executive officer now directly owns 12,523,273 shares in the company, valued at $1,018,517,793.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael Xie sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $78.13, for a total value of $3,125,200.00. Following the completion of the sale, the vice president now owns 6,338,989 shares of the company’s stock, valued at $495,265,210.57. The disclosure for this sale can be found here. Insiders sold 49,000 shares of company stock valued at $3,856,560 over the last 90 days. Company insiders own 17.20% of the company’s stock.

FTNT has been the subject of a number of research reports. Bank of America raised Fortinet from a “neutral” rating to a “buy” rating in a report on Friday, August 2nd. Barclays reaffirmed a “hold” rating and set a $99.00 target price on shares of Fortinet in a report on Sunday, August 4th. Citigroup lifted their target price on Fortinet from $78.00 to $80.00 and gave the stock a “sell” rating in a report on Friday, August 2nd. Robert W. Baird set a $100.00 target price on Fortinet and gave the stock a “hold” rating in a report on Sunday, September 15th. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and set a $102.00 target price (up previously from $97.00) on shares of Fortinet in a report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $87.52.

Fortinet Company Profile

Fortinet, Inc provides broad, integrated, and automated cybersecurity solutions worldwide. 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; FortiSandbox technology that delivers proactive detection and mitigation services; and FortiSIEM family of software solutions, which offers a cloud-ready security information and event management solutions.

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Institutional Ownership by Quarter for Fortinet (NASDAQ:FTNT)

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