763 Shares in Fortinet, Inc. (NASDAQ:FTNT) Purchased by St. Johns Investment Management Company LLC

St. Johns Investment Management Company LLC bought a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 4th quarter, HoldingsChannel.com reports. The firm bought 763 shares of the software maker’s stock, valued at approximately $72,000.

Several other hedge funds have also recently bought and sold shares of FTNT. FMR LLC grew its stake in Fortinet by 276.3% in the third quarter. FMR LLC now owns 3,685,230 shares of the software maker’s stock valued at $285,790,000 after purchasing an additional 2,705,767 shares in the last quarter. AQR Capital Management LLC grew its holdings in Fortinet by 89.7% during the second quarter. AQR Capital Management LLC now owns 2,675,644 shares of the software maker’s stock valued at $161,261,000 after purchasing an additional 1,265,162 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of Fortinet by 3,155.6% in the third quarter. Los Angeles Capital Management LLC now owns 1,237,244 shares of the software maker’s stock valued at $95,948,000 after purchasing an additional 1,199,241 shares during the period. State Street Corp lifted its stake in shares of Fortinet by 2.9% in the third quarter. State Street Corp now owns 27,281,279 shares of the software maker’s stock worth $2,115,663,000 after buying an additional 766,135 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its stake in Fortinet by 98.9% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,457,858 shares of the software maker’s stock valued at $113,057,000 after buying an additional 724,887 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Price Performance

NASDAQ:FTNT opened at $97.45 on Friday. 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 firm has a market cap of $74.69 billion, a PE ratio of 49.22, a price-to-earnings-growth ratio of 2.58 and a beta of 1.00. Fortinet, Inc. has a 12 month low of $54.57 and a 12 month high of $101.00. The company’s 50-day moving average price is $95.65 and its two-hundred day moving average price is $81.33.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Thursday, November 7th. The software maker reported $0.56 EPS for the quarter, topping 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 business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business earned $0.35 EPS. On average, equities analysts anticipate that Fortinet, Inc. will post 1.95 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised their price target on Fortinet from $88.00 to $100.00 and gave the company a “market perform” rating in a research report on Tuesday, November 19th. Wedbush raised their target price on Fortinet from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Bank of America lifted their price target on Fortinet from $87.00 to $104.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Jefferies Financial Group increased their price objective on Fortinet from $95.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Fortinet in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Fortinet presently has a consensus rating of “Hold” and a consensus target price of $96.83.

Insiders Place Their Bets

In related news, Director William H. Neukom bought 355 shares of the company’s stock in a transaction on Friday, December 6th. The stock was bought at an average cost of $98.50 per share, with a total value of $34,967.50. Following the completion of the purchase, the director now owns 150,245 shares in the company, valued at approximately $14,799,132.50. The trade was a 0.24 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ken Xie sold 22,916 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $97.93, for a total transaction of $2,244,163.88. Following the sale, the chief executive officer now directly owns 48,983,683 shares in the company, valued at $4,796,972,076.19. 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 quarter, insiders have sold 67,860 shares of company stock valued at $6,469,056. 18.00% of the stock is currently owned by corporate 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.