YHB Investment Advisors Inc. Acquires 3,149 Shares of Fortinet, Inc. (NASDAQ:FTNT)

YHB Investment Advisors Inc. raised its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 5.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 65,797 shares of the software maker's stock after acquiring an additional 3,149 shares during the period. YHB Investment Advisors Inc.'s holdings in Fortinet were worth $6,217,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Eastern Bank acquired a new stake in Fortinet in the third quarter worth $25,000. Ashton Thomas Securities LLC bought a new position in shares of Fortinet during the 3rd quarter valued at about $26,000. Private Wealth Management Group LLC increased its stake in Fortinet by 73.3% during the 3rd quarter. Private Wealth Management Group LLC now owns 409 shares of the software maker's stock worth $32,000 after purchasing an additional 173 shares in the last quarter. City State Bank lifted its stake in Fortinet by 900.0% in the third quarter. City State Bank now owns 500 shares of the software maker's stock valued at $39,000 after buying an additional 450 shares in the last quarter. Finally, Paladin Wealth LLC acquired a new position in shares of Fortinet in the third quarter valued at approximately $46,000. Institutional investors and hedge funds own 83.71% of the company's stock.

Analyst Upgrades and Downgrades

FTNT has been the topic of several research reports. HSBC raised shares of Fortinet from a "hold" rating to a "buy" rating and boosted their price objective for the company from $83.00 to $111.00 in a research report on Monday, November 11th. BMO Capital Markets lifted their target price on Fortinet from $88.00 to $100.00 and gave the company a "market perform" rating in a research report on Tuesday, November 19th. Raymond James reiterated a "market perform" rating on shares of Fortinet in a report on Tuesday, January 14th. Truist Financial reaffirmed a "buy" rating and issued a $105.00 target price (up previously from $85.00) on shares of Fortinet in a research report on Wednesday, November 20th. Finally, Mizuho increased their price objective on shares of Fortinet from $68.00 to $78.00 and gave the stock an "underperform" rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Fortinet has an average rating of "Hold" and a consensus price target of $96.83.

Insider Transactions at Fortinet

In related news, Director William H. Neukom bought 355 shares of the company's stock in a transaction that occurred on Friday, December 6th. The shares were bought at an average price of $98.50 per share, for a total transaction of $34,967.50. Following the transaction, the director now directly owns 150,245 shares of the company's stock, valued at approximately $14,799,132.50. The trade was a 0.24 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Keith Jensen sold 4,250 shares of Fortinet stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.83, for a total transaction of $386,027.50. Following the completion of the sale, the chief financial officer now directly owns 4,689 shares of the company's stock, valued at approximately $425,901.87. This trade represents a 47.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,860 shares of company stock valued at $6,469,056. Corporate insiders own 18.00% of the company's stock.

Fortinet Trading Up 3.2 %

Shares of Fortinet stock traded up $3.06 during midday trading on Tuesday, reaching $99.83. The company had a trading volume of 4,374,808 shares, compared to its average volume of 4,057,513. The firm has a market cap of $76.51 billion, a PE ratio of 50.42, a P/E/G ratio of 2.58 and a beta of 1.00. The stock has a fifty day moving average price of $95.80 and a 200 day moving average price of $82.16. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.34 and a quick ratio of 1.25. Fortinet, Inc. has a fifty-two week low of $54.57 and a fifty-two week high of $101.00.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The software maker reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.13. Fortinet had a net margin of 26.79% and a return on equity of 973.30%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the firm posted $0.35 EPS. On average, equities analysts anticipate that Fortinet, Inc. will post 1.95 earnings per share for the current year.

About Fortinet

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.