Fortinet, Inc. (NASDAQ:FTNT) Shares Sold by Decatur Capital Management Inc.

Decatur Capital Management Inc. lowered its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,677 shares of the software maker’s stock after selling 419 shares during the period. Fortinet accounts for approximately 1.3% of Decatur Capital Management Inc.’s portfolio, making the stock its 24th biggest holding. Decatur Capital Management Inc.’s holdings in Fortinet were worth $2,804,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Fortinet during the fourth quarter worth about $27,000. Oarsman Capital Inc. boosted its position in Fortinet by 188.9% during the fourth quarter. Oarsman Capital Inc. now owns 416 shares of the software maker’s stock worth $39,000 after acquiring an additional 272 shares during the last quarter. Graney & King LLC purchased a new stake in Fortinet in the 4th quarter worth approximately $43,000. Golden State Wealth Management LLC acquired a new position in Fortinet in the 4th quarter valued at $46,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Fortinet during the 4th quarter worth $56,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Price Performance

FTNT stock opened at $96.13 on Friday. The stock’s 50 day moving average is $100.70 and its two-hundred day moving average is $95.16. Fortinet, Inc. has a 52-week low of $54.57 and a 52-week high of $114.82. The company has a market capitalization of $73.92 billion, a PE ratio of 42.54, a P/E/G ratio of 4.19 and a beta of 1.09. The company has a quick ratio of 1.39, a current ratio of 1.47 and a debt-to-equity ratio of 0.67.

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

Insider Transactions at Fortinet

In other Fortinet news, Director William H. Neukom acquired 328 shares of the firm’s 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 completion of the acquisition, the director now directly owns 300,006 shares in the company, valued at $31,899,637.98. This trade represents a 0.11 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kenneth A. Goldman sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $100.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director now owns 18,612 shares in the company, valued at approximately $1,861,200. The trade was a 9.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 576,944 shares of company stock valued at $56,944,064. Insiders own 18.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Scotiabank upped their target price on Fortinet from $115.00 to $135.00 and gave the company a “sector outperform” rating in a research note on Friday, February 7th. Baird R W downgraded shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Jefferies Financial Group decreased their target price on shares of Fortinet from $115.00 to $105.00 and set a “hold” rating on the stock in a research report on Monday, March 31st. StockNews.com lowered shares of Fortinet from a “buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $112.00 price target (up previously from $105.00) on shares of Fortinet in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, twenty have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $105.17.

Fortinet Company 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.