Fortinet, Inc. (NASDAQ:FTNT) Shares Purchased by D Orazio & Associates Inc.

D Orazio & Associates Inc. increased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,129 shares of the software maker’s stock after acquiring an additional 137 shares during the quarter. D Orazio & Associates Inc.’s holdings in Fortinet were worth $301,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. SJS Investment Consulting Inc. raised its stake in shares of Fortinet by 703.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 257 shares of the software maker’s stock valued at $25,000 after acquiring an additional 225 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Fortinet in the 4th quarter valued at $27,000. Oarsman Capital Inc. raised its holdings in shares of Fortinet by 188.9% in the 4th quarter. Oarsman Capital Inc. now owns 416 shares of the software maker’s stock valued at $39,000 after purchasing an additional 272 shares in the last quarter. Graney & King LLC acquired a new stake in shares of Fortinet in the 4th quarter valued at $43,000. Finally, Banque Transatlantique SA acquired a new stake in Fortinet during the 4th quarter worth $43,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Stock Performance

Shares of FTNT stock opened at $100.83 on Friday. The firm has a market capitalization of $77.18 billion, a PE ratio of 44.62, a price-to-earnings-growth ratio of 4.19 and a beta of 1.06. The firm has a fifty day simple moving average of $101.38 and a two-hundred day simple moving average of $100.10. The company has a current ratio of 1.47, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. Fortinet, Inc. has a 12 month low of $54.57 and a 12 month high of $114.82.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, May 7th. The software maker reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.54 billion. Fortinet had a net margin of 29.30% and a return on equity of 256.53%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 EPS. Analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Analyst Ratings Changes

FTNT has been the topic of a number of recent research reports. KeyCorp dropped their price objective on shares of Fortinet from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. BMO Capital Markets decreased their price objective on shares of Fortinet from $122.00 to $110.00 and set a “market perform” rating on the stock in a report on Thursday, May 8th. Roth Capital set a $103.00 target price on shares of Fortinet and gave the stock a “neutral” rating in a research report on Tuesday, April 22nd. Robert W. Baird lifted their target price on shares of Fortinet from $110.00 to $113.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Finally, Cantor Fitzgerald cut their price objective on shares of Fortinet from $115.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Fortinet has an average rating of “Hold” and an average target price of $104.80.

Insider Activity

In other news, Director William H. Neukom bought 335 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The shares were bought at an average cost of $104.22 per share, with a total value of $34,913.70. Following the completion of the purchase, the director now directly owns 301,471 shares in the company, valued at $31,419,307.62. This represents a 0.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, VP Michael Xie sold 3,546 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $106.11, for a total transaction of $376,266.06. Following the transaction, the vice president now directly owns 11,000,068 shares in the company, valued at approximately $1,167,217,215.48. The trade was a 0.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.20% of the stock is owned by company insiders.

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.