Three Seasons Wealth LLC Purchases Shares of 4,123 Fortinet, Inc. (NASDAQ:FTNT)

Three Seasons Wealth LLC purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,123 shares of the software maker's stock, valued at approximately $390,000.

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

Insider Transactions at Fortinet

In related news, CFO Keith Jensen sold 17,660 shares of Fortinet stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $109.18, for a total value of $1,928,118.80. Following the completion of the sale, the chief financial officer now directly owns 4,736 shares in the company, valued at approximately $517,076.48. This trade represents a 78.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth A. Goldman sold 2,000 shares of Fortinet stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $100.00, for a total value of $200,000.00. Following the completion of the sale, the director now owns 18,612 shares of the company's stock, valued at $1,861,200. The trade was a 9.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 576,944 shares of company stock valued at $56,944,064 in the last quarter. 18.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FTNT. Scotiabank raised their target price on shares of Fortinet from $115.00 to $135.00 and gave the company a "sector outperform" rating in a research note on Friday, February 7th. The Goldman Sachs Group raised their target price on shares of Fortinet from $114.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Wells Fargo & Company raised their target price on shares of Fortinet from $85.00 to $105.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Jefferies Financial Group lowered their target price on shares of Fortinet from $115.00 to $105.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Finally, Susquehanna increased their price target on shares of Fortinet from $90.00 to $110.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, twenty-one have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $104.77.

Fortinet Stock Up 0.8 %

Fortinet stock traded up $0.84 on Monday, hitting $102.64. 3,078,961 shares of the stock traded hands, compared to its average volume of 5,080,402. The company has a current ratio of 1.47, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. The firm has a market cap of $78.93 billion, a P/E ratio of 45.42, a price-to-earnings-growth ratio of 4.19 and a beta of 1.09. The business's fifty day simple moving average is $99.09 and its 200 day simple moving average is $96.18. Fortinet, Inc. has a 1 year low of $54.57 and a 1 year high of $114.82.

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%. As a group, sell-side analysts forecast that Fortinet, Inc. will post 2.09 earnings per share for the current year.

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.