Robeco Institutional Asset Management B.V. Trims Position in Fortinet, Inc. (NASDAQ:FTNT)

Robeco Institutional Asset Management B.V. lessened its stake in Fortinet, Inc. (NASDAQ:FTNT) by 7.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,135,965 shares of the software maker’s stock after selling 268,010 shares during the period. Robeco Institutional Asset Management B.V. owned 0.41% of Fortinet worth $296,286,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC boosted its stake in Fortinet by 1.6% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 6,833 shares of the software maker’s stock worth $646,000 after purchasing an additional 107 shares in the last quarter. Versant Capital Management Inc boosted its stake in Fortinet by 13.1% in the 4th quarter. Versant Capital Management Inc now owns 1,106 shares of the software maker’s stock worth $104,000 after purchasing an additional 128 shares in the last quarter. Diversified Trust Co boosted its stake in Fortinet by 0.6% in the 4th quarter. Diversified Trust Co now owns 23,852 shares of the software maker’s stock worth $2,254,000 after purchasing an additional 135 shares in the last quarter. Eagle Capital Management LLC boosted its stake in Fortinet by 0.6% in the 3rd quarter. Eagle Capital Management LLC now owns 25,772 shares of the software maker’s stock worth $1,999,000 after purchasing an additional 141 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its stake in Fortinet by 3.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,782 shares of the software maker’s stock worth $293,000 after purchasing an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FTNT shares. Morgan Stanley lifted their target price on shares of Fortinet from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. UBS Group raised their price target on shares of Fortinet from $70.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Hsbc Global Res raised shares of Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Stifel Nicolaus raised their price target on shares of Fortinet from $90.00 to $103.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Finally, Jefferies Financial Group raised their price target on shares of Fortinet from $95.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $96.83.

Insider Activity

In related news, CFO Keith Jensen sold 4,250 shares of the business’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 sale, the chief financial officer now directly owns 4,689 shares in the company, valued at approximately $425,901.87. The trade was a 47.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William H. Neukom acquired 355 shares of Fortinet stock in a transaction that occurred on Friday, December 6th. The stock was bought at an average price of $98.50 per share, for a total transaction of $34,967.50. Following the completion of the acquisition, the director now owns 150,245 shares in the company, valued at $14,799,132.50. This trade represents a 0.24 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 67,860 shares of company stock valued at $6,469,056. 18.00% of the stock is currently owned by insiders.

Fortinet Trading Up 3.2 %

Shares of FTNT opened at $99.83 on Wednesday. Fortinet, Inc. has a 52-week low of $54.57 and a 52-week high of $101.00. The company has a quick ratio of 1.25, a current ratio of 1.34 and a debt-to-equity ratio of 1.09. The firm’s fifty day moving average is $95.98 and its two-hundred day moving average is $82.45. The stock has a market cap of $76.51 billion, a PE ratio of 50.42, a price-to-earnings-growth ratio of 2.58 and a beta of 1.00.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Thursday, November 7th. The software maker reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.13. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Fortinet had a net margin of 26.79% and a return on equity of 973.30%. During the same quarter in the previous year, the company posted $0.35 EPS. Research analysts forecast that Fortinet, Inc. will post 1.95 earnings per share for the current fiscal year.

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.