Hantz Financial Services Inc. Has $719,000 Stock Position in Fortinet, Inc. (NASDAQ:FTNT)

Hantz Financial Services Inc. lessened its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,275 shares of the software maker’s stock after selling 410 shares during the period. Hantz Financial Services Inc.’s holdings in Fortinet were worth $719,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FTNT. Cetera Investment Advisers boosted its stake in shares of Fortinet by 543.5% during the 1st quarter. Cetera Investment Advisers now owns 157,319 shares of the software maker’s stock worth $10,765,000 after acquiring an additional 132,871 shares in the last quarter. Cetera Advisors LLC lifted its holdings in Fortinet by 91.6% in the 1st quarter. Cetera Advisors LLC now owns 33,223 shares of the software maker’s stock worth $2,269,000 after purchasing an additional 15,880 shares during the last quarter. Versant Capital Management Inc grew its holdings in Fortinet by 61.2% during the second quarter. Versant Capital Management Inc now owns 627 shares of the software maker’s stock valued at $38,000 after purchasing an additional 238 shares during the last quarter. Mather Group LLC. grew its holdings in Fortinet by 57.0% during the second quarter. Mather Group LLC. now owns 6,035 shares of the software maker’s stock valued at $364,000 after purchasing an additional 2,190 shares during the last quarter. Finally, CWM LLC raised its position in shares of Fortinet by 41.8% in the second quarter. CWM LLC now owns 39,270 shares of the software maker’s stock valued at $2,367,000 after purchasing an additional 11,581 shares during the period. 83.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Fortinet news, CFO Keith Jensen sold 4,250 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.83, for a total value of $386,027.50. Following the transaction, the chief financial officer now owns 4,689 shares of the company’s stock, valued at approximately $425,901.87. The trade was a 47.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 value of $1,908,610.23. Following the completion of the sale, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,745 shares of company stock valued at $5,746,974. 18.00% of the stock is currently owned by insiders.

Fortinet Trading Up 1.1 %

Shares of Fortinet stock opened at $95.05 on Monday. Fortinet, Inc. has a 12-month low of $50.65 and a 12-month high of $100.59. The stock has a market capitalization of $72.85 billion, a P/E ratio of 48.01, a price-to-earnings-growth ratio of 2.76 and a beta of 1.00. The company has a 50-day simple moving average of $84.33 and a 200 day simple moving average of $71.61. The company has a quick ratio of 1.25, a current ratio of 1.34 and a debt-to-equity ratio of 1.09.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Fortinet from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. TD Cowen raised their price target on Fortinet from $90.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Raymond James boosted their price objective on Fortinet from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Cantor Fitzgerald raised their target price on Fortinet from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, Mizuho lowered Fortinet from a “neutral” rating to an “underperform” rating and set a $68.00 price target for the company. in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $88.93.

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.