Cerity Partners LLC Acquires 3,072 Shares of Fortinet, Inc. (NASDAQ:FTNT)

Cerity Partners LLC increased its holdings in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 277,230 shares of the software maker's stock after acquiring an additional 3,072 shares during the period. Cerity Partners LLC's holdings in Fortinet were worth $25,723,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Edmond DE Rothschild Holding S.A. purchased a new position in Fortinet in the fourth quarter worth $27,000. Oarsman Capital Inc. grew its position in shares of Fortinet by 188.9% in the fourth quarter. Oarsman Capital Inc. now owns 416 shares of the software maker's stock valued at $39,000 after purchasing an additional 272 shares in the last quarter. Graney & King LLC purchased a new position in Fortinet during the 4th quarter valued at about $43,000. Golden State Wealth Management LLC bought a new stake in shares of Fortinet during the fourth quarter valued at about $46,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Fortinet in the fourth quarter worth about $56,000. Institutional investors own 83.71% of the company's stock.

Insider Buying and Selling

In related news, Director Kenneth A. Goldman sold 1,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $99.32, for a total value of $99,320.00. Following the transaction, the director now owns 20,612 shares in the company, valued at $2,047,183.84. The trade was a 4.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William H. Neukom acquired 328 shares of Fortinet stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $106.33 per share, with a total value of $34,876.24. Following the completion of the purchase, the director now owns 300,006 shares in the company, valued at $31,899,637.98. This represents a 0.11 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 599,988 shares of company stock worth $59,094,530 in the last 90 days. Insiders own 18.00% of the company's stock.

Fortinet Trading Up 0.2 %

NASDAQ FTNT traded up $0.15 during trading on Monday, hitting $97.88. The company had a trading volume of 970,001 shares, compared to its average volume of 5,058,922. Fortinet, Inc. has a one year low of $54.57 and a one year high of $114.82. The company has a market cap of $75.27 billion, a price-to-earnings ratio of 43.31, a price-to-earnings-growth ratio of 4.19 and a beta of 1.09. The company's fifty day moving average is $101.72 and its 200-day moving average is $94.72. The company has a current ratio of 1.47, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its quarterly earnings data 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 return on equity of 256.53% and a net margin of 29.30%. On average, sell-side analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FTNT shares. Raymond James reaffirmed a "market perform" rating on shares of Fortinet in a report on Tuesday, January 14th. Needham & Company LLC reiterated a "hold" rating on shares of Fortinet in a research report on Friday, February 7th. UBS Group set a $123.00 price objective on Fortinet in a research note on Tuesday, March 18th. JPMorgan Chase & Co. raised 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. Finally, Susquehanna boosted their price objective on Fortinet from $90.00 to $110.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, twenty have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target 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.