Natixis Advisors LLC Purchases 27,243 Shares of Fortinet, Inc. (NASDAQ:FTNT)

Natixis Advisors LLC grew its holdings in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 15.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 202,316 shares of the software maker's stock after acquiring an additional 27,243 shares during the period. Natixis Advisors LLC's holdings in Fortinet were worth $19,115,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FTNT. FMR LLC increased its position in Fortinet by 276.3% during the third quarter. FMR LLC now owns 3,685,230 shares of the software maker's stock worth $285,790,000 after buying an additional 2,705,767 shares during the last quarter. Amundi increased its holdings in shares of Fortinet by 36.7% during the 4th quarter. Amundi now owns 6,577,467 shares of the software maker's stock valued at $631,700,000 after acquiring an additional 1,766,860 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Fortinet by 136.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 2,919,952 shares of the software maker's stock valued at $275,877,000 after acquiring an additional 1,682,708 shares in the last quarter. State Street Corp lifted its holdings in Fortinet by 2.9% in the 3rd quarter. State Street Corp now owns 27,281,279 shares of the software maker's stock worth $2,115,663,000 after purchasing an additional 766,135 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Fortinet during the fourth quarter worth approximately $69,381,000. Institutional investors and hedge funds own 83.71% of the company's stock.

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Fortinet Price Performance

FTNT traded up $0.20 during trading on Friday, hitting $98.65. The company's stock had a trading volume of 5,778,320 shares, compared to its average volume of 4,794,280. The firm's 50 day moving average price is $102.34 and its two-hundred day moving average price is $92.31. The company has a quick ratio of 1.39, a current ratio of 1.47 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $75.86 billion, a price-to-earnings ratio of 43.65, a price-to-earnings-growth ratio of 4.19 and a beta of 0.97. Fortinet, Inc. has a 12 month low of $54.57 and a 12 month high of $114.82.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.07. Fortinet had a net margin of 29.30% and a return on equity of 256.53%. Sell-side analysts forecast that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FTNT has been the subject of several recent analyst reports. Citigroup upped their price objective on shares of Fortinet from $100.00 to $101.00 and gave the stock a "neutral" rating in a report on Friday, January 17th. Cantor Fitzgerald upped their price target on shares of Fortinet from $95.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Wells Fargo & Company lifted their price objective on Fortinet from $85.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Scotiabank increased their target price on Fortinet from $115.00 to $135.00 and gave the company a "sector outperform" rating in a research note on Friday, February 7th. Finally, Stifel Nicolaus lifted their price target on Fortinet from $103.00 to $115.00 and gave the stock a "hold" rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $105.69.

Insiders Place Their Bets

In related news, CEO Ken Xie sold 23,044 shares of Fortinet stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $93.32, for a total transaction of $2,150,466.08. Following the completion of the sale, the chief executive officer now directly owns 49,039,698 shares of the company's stock, valued at $4,576,384,617.36. The trade was a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William H. Neukom bought 328 shares of the business's stock in a transaction on Thursday, March 6th. The stock was bought at an average cost of $106.33 per share, for a total transaction of $34,876.24. Following the purchase, the director now directly owns 300,006 shares of the company's stock, valued at approximately $31,899,637.98. This trade represents a 0.11 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 599,988 shares of company stock valued at $59,094,530. 18.00% of the stock is currently owned by insiders.

Fortinet Company 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.