Crewe Advisors LLC Has $152,000 Position in Fortinet, Inc. (NASDAQ:FTNT)

Crewe Advisors LLC grew its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 8.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,958 shares of the software maker’s stock after buying an additional 158 shares during the quarter. Crewe Advisors LLC’s holdings in Fortinet were worth $152,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in FTNT. Swedbank AB acquired a new stake in Fortinet in the 1st quarter valued at about $548,013,000. Marshall Wace LLP grew its stake in shares of Fortinet by 198.5% during the second quarter. Marshall Wace LLP now owns 6,238,856 shares of the software maker’s stock valued at $376,016,000 after purchasing an additional 4,148,520 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Fortinet by 94.9% in the second quarter. Van ECK Associates Corp now owns 5,755,599 shares of the software maker’s stock valued at $346,890,000 after purchasing an additional 2,802,446 shares in the last quarter. AQR Capital Management LLC raised its position in Fortinet by 89.7% in the 2nd quarter. AQR Capital Management LLC now owns 2,675,644 shares of the software maker’s stock worth $161,261,000 after purchasing an additional 1,265,162 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in Fortinet by 3,155.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,237,244 shares of the software maker’s stock worth $95,948,000 after buying an additional 1,199,241 shares in the last quarter. 83.71% of the stock is owned by institutional investors.

Insider Transactions at Fortinet

In related news, CFO Keith Jensen sold 4,250 shares of the 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 transaction, the chief financial officer now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ken Xie sold 23,307 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $81.89, for a total transaction of $1,908,610.23. Following the completion of the transaction, the chief executive officer now directly owns 48,915,530 shares of the company’s stock, valued at approximately $4,005,692,751.70. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,095 shares of company stock valued at $4,058,575 over the last three months. Company insiders own 18.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FTNT shares. Wedbush boosted their target price on Fortinet from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on Fortinet from $77.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, November 19th. StockNews.com raised shares of Fortinet from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Barclays boosted their price target on shares of Fortinet from $85.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Fortinet from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $88.93.

Fortinet Price Performance

FTNT stock opened at $92.77 on Friday. The stock has a 50-day moving average price of $82.45 and a two-hundred day moving average price of $70.37. Fortinet, Inc. has a 1 year low of $50.65 and a 1 year high of $100.59. The stock has a market cap of $71.10 billion, a PE ratio of 46.85, a price-to-earnings-growth ratio of 2.73 and a beta of 1.00. The company has a current ratio of 1.34, a quick ratio of 1.25 and a debt-to-equity ratio of 1.09.

Fortinet Company 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.