Blair William & Co. IL Has $20.15 Million Stock Holdings in Fortinet, Inc. (NASDAQ:FTNT)

Blair William & Co. IL cut its holdings in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 213,270 shares of the software maker's stock after selling 10,764 shares during the quarter. Blair William & Co. IL's holdings in Fortinet were worth $20,150,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FTNT. Graney & King LLC bought a new stake in Fortinet in the fourth quarter valued at approximately $43,000. Golden State Wealth Management LLC acquired a new stake in Fortinet during the 4th quarter worth $46,000. Runnymede Capital Advisors Inc. bought a new position in Fortinet during the fourth quarter worth about $56,000. LFA Lugano Financial Advisors SA grew its stake in Fortinet by 445.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 600 shares of the software maker's stock valued at $57,000 after acquiring an additional 490 shares during the period. Finally, Private Trust Co. NA increased its holdings in shares of Fortinet by 95.0% in the fourth quarter. Private Trust Co. NA now owns 630 shares of the software maker's stock worth $60,000 after acquiring an additional 307 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company's stock.

Fortinet Price Performance

Shares of NASDAQ:FTNT traded up $1.12 during trading on Wednesday, reaching $97.79. 1,143,056 shares of the company traded hands, compared to its average volume of 4,578,058. The company has a quick ratio of 1.39, a current ratio of 1.47 and a debt-to-equity ratio of 0.67. Fortinet, Inc. has a 52 week low of $54.57 and a 52 week high of $114.82. The firm has a market capitalization of $75.20 billion, a PE ratio of 43.28, a PEG ratio of 4.19 and a beta of 0.97. The company's 50 day moving average is $103.00 and its two-hundred day moving average is $93.68.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its earnings results on Thursday, February 6th. The software maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07. Fortinet had a net margin of 29.30% and a return on equity of 256.53%. As a group, sell-side analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Insider Transactions at Fortinet

In related news, Director Kenneth A. Goldman sold 2,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $100.00, for a total transaction of $200,000.00. Following the sale, the director now owns 18,612 shares in the company, valued at $1,861,200. The trade was a 9.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ken Xie sold 206,000 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $96.93, for a total value of $19,967,580.00. Following the completion of the transaction, the chief executive officer now owns 51,391,879 shares of the company's stock, valued at $4,981,414,831.47. This represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 599,988 shares of company stock valued at $59,094,530. Corporate insiders own 18.00% of the company's stock.

Analyst Upgrades and Downgrades

FTNT has been the subject of a number of research reports. UBS Group set a $123.00 target price on Fortinet in a research note on Tuesday, March 18th. JPMorgan Chase & Co. upped their target price on shares of Fortinet from $99.00 to $105.00 and gave the stock a "neutral" rating in a research note on Monday, December 16th. Needham & Company LLC reissued a "hold" rating on shares of Fortinet in a research note on Friday, February 7th. StockNews.com cut Fortinet from a "buy" rating to a "hold" rating in a research report on Tuesday. Finally, Guggenheim reissued a "neutral" rating on shares of Fortinet in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, twenty have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $105.77.

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.