2,736 Shares in Fortinet, Inc. (NASDAQ:FTNT) Purchased by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,736 shares of the software maker's stock, valued at approximately $258,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Eastern Bank purchased a new stake in shares of Fortinet in the 3rd quarter worth $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Fortinet in the third quarter valued at about $26,000. Private Wealth Management Group LLC lifted its stake in Fortinet by 73.3% in the third quarter. Private Wealth Management Group LLC now owns 409 shares of the software maker's stock worth $32,000 after acquiring an additional 173 shares during the period. City State Bank grew its holdings in Fortinet by 900.0% during the 3rd quarter. City State Bank now owns 500 shares of the software maker's stock worth $39,000 after acquiring an additional 450 shares in the last quarter. Finally, Paladin Wealth LLC purchased a new position in Fortinet during the 3rd quarter valued at about $46,000. Institutional investors own 83.71% of the company's stock.

Insider Buying and Selling at Fortinet

In other news, CFO Keith Jensen sold 4,250 shares of the firm's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.83, for a total transaction of $386,027.50. Following the sale, the chief financial officer now directly owns 4,689 shares in the company, valued at $425,901.87. This trade represents a 47.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $2,150,466.08. Following the completion of the transaction, the chief executive officer now owns 49,039,698 shares of the company's stock, valued at approximately $4,576,384,617.36. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,860 shares of company stock valued at $6,469,056. 18.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FTNT shares. Robert W. Baird upped their price target on shares of Fortinet from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 19th. Needham & Company LLC restated a "hold" rating on shares of Fortinet in a report on Friday, November 22nd. Mizuho lifted their price target on Fortinet from $68.00 to $78.00 and gave the company an "underperform" rating in a report on Friday, December 13th. Jefferies Financial Group upped their price objective on Fortinet from $95.00 to $105.00 and gave the stock a "hold" rating in a research note on Thursday, December 19th. Finally, TD Cowen raised their price objective on Fortinet from $90.00 to $105.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Fortinet has a consensus rating of "Hold" and an average price target of $96.17.

Fortinet Stock Performance

Shares of FTNT stock traded up $0.18 on Monday, hitting $94.23. The company had a trading volume of 4,915,554 shares, compared to its average volume of 3,418,023. The firm has a market cap of $72.22 billion, a P/E ratio of 47.59, a price-to-earnings-growth ratio of 2.51 and a beta of 1.00. Fortinet, Inc. has a twelve month low of $54.57 and a twelve month high of $101.00. The company has a 50-day moving average price of $95.62 and a 200-day moving average price of $80.85. The company has a quick ratio of 1.25, a current ratio of 1.34 and a debt-to-equity ratio of 1.09.

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.