HHM Wealth Advisors LLC Sells 230 Shares of Fortinet, Inc. (NASDAQ:FTNT)

HHM Wealth Advisors LLC trimmed its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,370 shares of the software maker’s stock after selling 230 shares during the period. HHM Wealth Advisors LLC’s holdings in Fortinet were worth $507,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Fortinet

In other Fortinet news, Director William H. Neukom acquired 355 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average cost of $98.50 per share, for a total transaction of $34,967.50. Following the completion of the acquisition, the director now directly owns 150,245 shares of the company’s stock, valued at approximately $14,799,132.50. This represents a 0.24 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ken Xie sold 22,916 shares of Fortinet stock in a transaction on Tuesday, December 17th. The stock was 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 of the company’s stock, valued at $4,796,972,076.19. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,860 shares of company stock worth $6,469,056. Insiders own 18.00% of the company’s stock.

Fortinet Price Performance

Shares of FTNT stock opened at $100.88 on Monday. Fortinet, Inc. has a 52 week low of $54.57 and a 52 week high of $102.87. The stock has a market capitalization of $77.32 billion, a PE ratio of 50.95, a PEG ratio of 2.65 and a beta of 1.01. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.25 and a current ratio of 1.34. The stock’s fifty day moving average is $96.42 and its 200-day moving average is $83.31.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Thursday, November 7th. The software maker reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.13. Fortinet had a net margin of 26.79% and a return on equity of 973.30%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm posted $0.35 earnings per share. Equities research analysts expect that Fortinet, Inc. will post 1.95 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on FTNT. JPMorgan Chase & Co. boosted their price objective on Fortinet from $99.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Guggenheim reissued a “neutral” rating on shares of Fortinet in a research report on Friday, January 24th. BMO Capital Markets boosted their target price on shares of Fortinet from $88.00 to $100.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 19th. TD Cowen increased their price target on shares of Fortinet from $90.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, HSBC upgraded shares of Fortinet from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $83.00 to $111.00 in a report on Monday, November 11th. 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. Based on data from MarketBeat, Fortinet currently has a consensus rating of “Hold” and a consensus target price of $96.83.

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.