Stephens Inc. AR Has $564,000 Stake in Fortinet, Inc. (NASDAQ:FTNT)

Stephens Inc. AR decreased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 44.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,971 shares of the software maker’s stock after selling 4,840 shares during the period. Stephens Inc. AR’s holdings in Fortinet were worth $564,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Fifth Third Wealth Advisors LLC grew its holdings in Fortinet by 1.6% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 6,833 shares of the software maker’s stock valued at $646,000 after purchasing an additional 107 shares during the period. Versant Capital Management Inc grew its holdings in Fortinet by 13.1% during the fourth quarter. Versant Capital Management Inc now owns 1,106 shares of the software maker’s stock valued at $104,000 after purchasing an additional 128 shares during the period. Diversified Trust Co grew its holdings in Fortinet by 0.6% during the fourth quarter. Diversified Trust Co now owns 23,852 shares of the software maker’s stock valued at $2,254,000 after purchasing an additional 135 shares during the period. Eagle Capital Management LLC grew its holdings in Fortinet by 0.6% during the third quarter. Eagle Capital Management LLC now owns 25,772 shares of the software maker’s stock valued at $1,999,000 after purchasing an additional 141 shares during the period. Finally, OneDigital Investment Advisors LLC grew its holdings in Fortinet by 3.9% during the third quarter. OneDigital Investment Advisors LLC now owns 3,782 shares of the software maker’s stock valued at $293,000 after purchasing an additional 141 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Price Performance

NASDAQ:FTNT opened at $111.64 on Friday. Fortinet, Inc. has a one year low of $54.57 and a one year high of $112.37. The company has a market cap of $85.57 billion, a P/E ratio of 49.40, a P/E/G ratio of 2.75 and a beta of 1.01. The firm’s fifty day moving average price is $98.60 and its two-hundred day moving average price is $86.37. 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 (NASDAQ:FTNT) last released 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 net margin of 29.30% and a return on equity of 463.85%. Equities analysts expect that Fortinet, Inc. will post 2.05 earnings per share for the current year.

Insider Buying and Selling at Fortinet

In related news, CFO Keith Jensen sold 4,250 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.83, for a total value of $386,027.50. Following the transaction, the chief financial officer now directly owns 4,689 shares in the company, valued at approximately $425,901.87. This represents a 47.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William H. Neukom purchased 355 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was acquired at an average price of $98.50 per share, for a total transaction of $34,967.50. Following the completion of the purchase, the director now directly owns 150,245 shares of the company’s stock, valued at $14,799,132.50. This represents a 0.24 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 67,860 shares of company stock worth $6,469,056 over the last ninety days. Insiders own 18.00% of the company’s stock.

Wall Street Analyst Weigh In

FTNT has been the subject of a number of analyst reports. Robert W. Baird restated a “neutral” rating and set a $112.00 price objective (up previously from $105.00) on shares of Fortinet in a report on Monday, February 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $135.00 price target (up previously from $120.00) on shares of Fortinet in a research note on Friday, February 7th. Bank of America lifted their price target on shares of Fortinet from $87.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Susquehanna lifted their price target on shares of Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Fortinet from $77.00 to $90.00 and gave the company a “hold” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Fortinet currently has a consensus rating of “Hold” and a consensus target price of $103.72.

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.