2,406 Shares in Fortinet, Inc. (NASDAQ:FTNT) Acquired by Aspiriant LLC

Aspiriant LLC acquired a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,406 shares of the software maker’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Eastern Bank bought a new stake in Fortinet during the 3rd quarter valued at $25,000. Ashton Thomas Securities LLC bought a new position in shares of Fortinet during the third quarter valued at about $26,000. Private Wealth Management Group LLC raised its stake in shares of Fortinet by 73.3% during the third quarter. Private Wealth Management Group LLC now owns 409 shares of the software maker’s stock valued at $32,000 after acquiring an additional 173 shares during the last quarter. City State Bank grew its stake in shares of Fortinet by 900.0% in the third quarter. City State Bank now owns 500 shares of the software maker’s stock worth $39,000 after purchasing an additional 450 shares during the last quarter. Finally, Paladin Wealth LLC purchased a new position in Fortinet during the 3rd quarter valued at about $46,000. Institutional investors own 83.71% of the company’s stock.

Fortinet Stock Up 3.2 %

Shares of Fortinet stock opened at $97.20 on Wednesday. Fortinet, Inc. has a twelve month low of $54.57 and a twelve month 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 company’s 50 day moving average is $95.58 and its 200 day moving average is $81.10. The company has a market cap of $74.50 billion, a price-to-earnings ratio of 49.09, a price-to-earnings-growth ratio of 2.49 and a beta of 1.00.

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

Insider Buying and Selling at Fortinet

In other Fortinet news, CEO Ken Xie sold 22,916 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $97.93, for a total value of $2,244,163.88. Following the completion of the sale, the chief executive officer now owns 48,983,683 shares in the company, valued at $4,796,972,076.19. This represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William H. Neukom acquired 355 shares of the stock in a transaction dated Friday, December 6th. The shares were bought at an average cost of $98.50 per share, for a total transaction of $34,967.50. Following the completion of the transaction, the director now owns 150,245 shares in the company, valued at approximately $14,799,132.50. This represents a 0.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 67,860 shares of company stock worth $6,469,056 in the last three months. 18.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Scotiabank increased their price objective on Fortinet from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a report on Tuesday. Hsbc Global Res raised Fortinet from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. boosted their price objective on shares of Fortinet from $99.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Cantor Fitzgerald raised their target price on shares of Fortinet from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, Rosenblatt Securities boosted their price target on shares of Fortinet from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Fortinet has an average rating of “Hold” and an average target price of $96.33.

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.