Fortinet, Inc. (NASDAQ:FTNT) Shares Bought by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC grew its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 326.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,674 shares of the software maker’s stock after buying an additional 10,464 shares during the period. Kesler Norman & Wride LLC’s holdings in Fortinet were worth $1,292,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Edmond DE Rothschild Holding S.A. acquired a new stake in Fortinet in the 4th quarter valued at about $27,000. Graney & King LLC purchased a new stake in shares of Fortinet in the fourth quarter valued at approximately $43,000. Golden State Wealth Management LLC acquired a new stake in shares of Fortinet in the fourth quarter valued at approximately $46,000. Runnymede Capital Advisors Inc. purchased a new position in Fortinet during the fourth quarter worth approximately $56,000. Finally, LFA Lugano Financial Advisors SA boosted its stake in Fortinet by 445.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 600 shares of the software maker’s stock worth $57,000 after buying an additional 490 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fortinet

In other Fortinet news, Director Kenneth A. Goldman sold 1,000 shares of Fortinet stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $99.32, for a total transaction of $99,320.00. Following the transaction, the director now owns 20,612 shares of the company’s stock, valued at $2,047,183.84. The trade was a 4.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William H. Neukom acquired 328 shares of Fortinet stock in a transaction on Thursday, March 6th. The stock was purchased at an average price of $106.33 per share, with a total value of $34,876.24. Following the purchase, the director now owns 300,006 shares of the company’s stock, valued at $31,899,637.98. The trade was a 0.11 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 599,988 shares of company stock worth $59,094,530. 18.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on FTNT. Rosenblatt Securities lifted their price target on Fortinet from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Cantor Fitzgerald lifted their target price on shares of Fortinet from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. UBS Group set a $123.00 price target on shares of Fortinet in a research note on Tuesday, March 18th. KeyCorp raised shares of Fortinet from a “sector weight” rating to an “overweight” rating and set a $115.00 price target on the stock in a research report on Thursday, December 19th. Finally, StockNews.com lowered Fortinet from a “buy” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, twenty have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $105.77.

Fortinet Price Performance

Fortinet stock opened at $96.67 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. The company has a fifty day simple moving average of $103.00 and a 200-day simple moving average of $93.68. The stock has a market cap of $74.34 billion, a P/E ratio of 42.77, a price-to-earnings-growth ratio of 4.19 and a beta of 0.97. Fortinet, Inc. has a 12-month low of $54.57 and a 12-month high of $114.82.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Thursday, February 6th. The software maker reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. Fortinet had a return on equity of 256.53% and a net margin of 29.30%. Equities analysts expect that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

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.