Leelyn Smith LLC Sells 112 Shares of Fortinet, Inc. (NASDAQ:FTNT)

Leelyn Smith LLC trimmed its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,655 shares of the software maker’s stock after selling 112 shares during the period. Leelyn Smith LLC’s holdings in Fortinet were worth $1,479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of FTNT. Golden State Wealth Management LLC bought a new position in Fortinet in the fourth quarter valued at approximately $46,000. LFA Lugano Financial Advisors SA raised its holdings in shares of Fortinet by 445.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 600 shares of the software maker’s stock valued at $57,000 after purchasing an additional 490 shares during the last quarter. Private Trust Co. NA lifted its position in shares of Fortinet by 95.0% in the fourth quarter. Private Trust Co. NA now owns 630 shares of the software maker’s stock worth $60,000 after purchasing an additional 307 shares in the last quarter. R Squared Ltd bought a new stake in Fortinet during the fourth quarter worth about $65,000. Finally, Venturi Wealth Management LLC increased its position in shares of Fortinet by 30.6% during the 4th quarter. Venturi Wealth Management LLC now owns 696 shares of the software maker’s stock worth $66,000 after purchasing an additional 163 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

Insider Activity at Fortinet

In related news, Director Kenneth A. Goldman sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $100.00, for a total transaction 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. This trade represents a 9.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ken Xie sold 23,044 shares of Fortinet stock in a transaction on Wednesday, January 15th. The shares were 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 owns 49,039,698 shares of the company’s stock, valued at $4,576,384,617.36. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 599,988 shares of company stock worth $59,094,530 in the last quarter. 18.00% of the stock is owned by insiders.

Fortinet Price Performance

Shares of NASDAQ:FTNT opened at $96.67 on Tuesday. Fortinet, Inc. has a 12 month low of $54.57 and a 12 month high of $114.82. The stock has a market capitalization of $74.34 billion, a PE ratio of 42.77, a PEG ratio of 4.19 and a beta of 0.97. 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 50 day moving average of $102.15 and a 200-day moving average of $91.93.

Fortinet (NASDAQ:FTNT) last posted its earnings results 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%. On average, equities research analysts predict that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on FTNT. Wedbush upped their price target on shares of Fortinet from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Guggenheim reaffirmed a “neutral” rating on shares of Fortinet in a report on Friday, February 7th. Needham & Company LLC reiterated a “hold” rating on shares of Fortinet in a report on Friday, February 7th. JPMorgan Chase & Co. upped their price objective on Fortinet from $99.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Finally, Stifel Nicolaus lifted their target price on Fortinet from $103.00 to $115.00 and gave the stock a “hold” rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, twenty have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.