Stratos Wealth Partners LTD. Purchases 383 Shares of Fortinet, Inc. (NASDAQ:FTNT)

Stratos Wealth Partners LTD. grew its position in Fortinet, Inc. (NASDAQ:FTNT) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,816 shares of the software maker’s stock after acquiring an additional 383 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Fortinet were worth $6,313,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Patron Partners LLC lifted its position in Fortinet by 3.7% in the fourth quarter. Patron Partners LLC now owns 11,002 shares of the software maker’s stock worth $1,039,000 after purchasing an additional 389 shares during the period. Columbus Macro LLC lifted its holdings in shares of Fortinet by 29.2% during the 4th quarter. Columbus Macro LLC now owns 3,908 shares of the software maker’s stock worth $369,000 after acquiring an additional 883 shares during the period. Trust Point Inc. boosted its position in shares of Fortinet by 22.1% during the 4th quarter. Trust Point Inc. now owns 3,462 shares of the software maker’s stock valued at $327,000 after acquiring an additional 626 shares in the last quarter. Baltimore Washington Financial Advisors Inc. increased its stake in Fortinet by 11.7% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 66,047 shares of the software maker’s stock valued at $6,240,000 after acquiring an additional 6,917 shares during the period. Finally, GDS Wealth Management raised its position in Fortinet by 253.5% in the fourth quarter. GDS Wealth Management now owns 20,237 shares of the software maker’s stock worth $1,912,000 after purchasing an additional 14,512 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FTNT shares. Mizuho lifted their price objective on Fortinet from $68.00 to $78.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price target on Fortinet from $77.00 to $90.00 and gave the company a “hold” rating in a research note on Tuesday, November 19th. Barclays increased their price objective on Fortinet from $85.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Scotiabank boosted their target price on shares of Fortinet from $110.00 to $115.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Finally, Baird R W cut shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Fortinet presently has an average rating of “Hold” and an average target price of $97.73.

Insider Activity at Fortinet

In other Fortinet news, CEO Ken Xie sold 22,916 shares of Fortinet stock in a transaction dated 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 transaction, the chief executive officer now directly owns 48,983,683 shares in the company, valued at approximately $4,796,972,076.19. The trade was a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William H. Neukom purchased 355 shares of the stock in a transaction on Friday, December 6th. The stock was acquired at an average price of $98.50 per share, with a total value 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 67,860 shares of company stock worth $6,469,056. 18.00% of the stock is currently owned by company insiders.

Fortinet Stock Up 2.2 %

Shares of Fortinet stock opened at $105.07 on Thursday. The business has a fifty day simple moving average of $96.92 and a 200 day simple moving average of $84.07. The stock has a market cap of $80.53 billion, a PE ratio of 53.07, a price-to-earnings-growth ratio of 2.65 and a beta of 1.01. The company has a quick ratio of 1.25, a current ratio of 1.34 and a debt-to-equity ratio of 1.09. Fortinet, Inc. has a 12 month low of $54.57 and a 12 month high of $105.12.

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