Fortinet, Inc. (NASDAQ:FTNT) Shares Bought by Sei Investments Co.

Sei Investments Co. lifted its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 157.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 474,458 shares of the software maker’s stock after buying an additional 290,089 shares during the quarter. Sei Investments Co. owned approximately 0.06% of Fortinet worth $44,827,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FTNT. American Century Companies Inc. lifted its holdings in shares of Fortinet by 17.1% during the 4th quarter. American Century Companies Inc. now owns 701,206 shares of the software maker’s stock worth $66,250,000 after acquiring an additional 102,434 shares during the period. Runnymede Capital Advisors Inc. acquired a new position in Fortinet during the fourth quarter worth approximately $56,000. Mizuho Securities USA LLC boosted its holdings in shares of Fortinet by 46.5% in the 4th quarter. Mizuho Securities USA LLC now owns 60,293 shares of the software maker’s stock valued at $5,696,000 after purchasing an additional 19,125 shares during the last quarter. Fi3 FINANCIAL ADVISORS LLC purchased a new stake in shares of Fortinet during the 4th quarter valued at $205,000. Finally, Quantbot Technologies LP increased its holdings in shares of Fortinet by 9.6% during the 4th quarter. Quantbot Technologies LP now owns 162,727 shares of the software maker’s stock worth $15,374,000 after buying an additional 14,202 shares during the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Fortinet Stock Up 1.2 %

Shares of NASDAQ:FTNT opened at $99.79 on Tuesday. The company’s fifty day moving average is $102.46 and its two-hundred day moving average is $92.70. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.47. Fortinet, Inc. has a 1-year low of $54.57 and a 1-year high of $114.82. The stock has a market capitalization of $76.74 billion, a price-to-earnings ratio of 44.16, a price-to-earnings-growth ratio of 4.19 and a beta of 0.97.

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

Analyst Upgrades and Downgrades

FTNT has been the subject of a number of research reports. Susquehanna boosted their price target on Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Raymond James restated a “market perform” rating on shares of Fortinet in a report on Tuesday, January 14th. Needham & Company LLC reiterated a “hold” rating on shares of Fortinet in a research note on Friday, February 7th. Stifel Nicolaus raised their target price on shares of Fortinet from $103.00 to $115.00 and gave the company a “hold” rating in a research note on Friday, February 7th. Finally, Cantor Fitzgerald upped their price target on shares of Fortinet from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $105.69.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 23,044 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $93.32, for a total value of $2,150,466.08. Following the sale, the chief executive officer now owns 49,039,698 shares in the company, valued at approximately $4,576,384,617.36. This trade represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Keith Jensen sold 23,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $113.56, for a total value of $2,668,660.00. Following the transaction, the chief financial officer now owns 4,736 shares of the company’s stock, valued at approximately $537,820.16. This represents a 83.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 599,988 shares of company stock valued at $59,094,530. Insiders own 18.00% of the company’s stock.

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.