Parallel Advisors LLC lifted its holdings in Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 2.0% within the second quarter, in line with its most up-to-date disclosure with the Securities & Trade Fee. The fund owned 7,504 shares of the software program maker’s inventory after shopping for a further 148 shares throughout the quarter. Parallel Advisors LLC’s holdings in Fortinet have been value $452,000 on the finish of the latest quarter.
Different institutional traders have additionally made adjustments to their positions within the firm. Vima LLC acquired a brand new stake in Fortinet within the fourth quarter value about $25,000. Winthrop Capital Administration LLC acquired a brand new stake in Fortinet within the first quarter value about $25,000. Rise Advisors LLC elevated its place in Fortinet by 135.6% within the first quarter. Rise Advisors LLC now owns 377 shares of the software program maker’s inventory value $26,000 after buying a further 217 shares throughout the interval. Creekmur Asset Administration LLC acquired a brand new stake in Fortinet within the fourth quarter value about $32,000. Lastly, Oakworth Capital Inc. acquired a brand new stake in Fortinet within the second quarter value about $33,000. 83.71% of the inventory is owned by institutional traders.
Fortinet Inventory Down 1.0 %
FTNT inventory opened at $75.61 on Wednesday. Fortinet, Inc. has a fifty-two week low of $44.12 and a fifty-two week excessive of $78.08. The enterprise’s 50 day shifting common worth is $67.59 and its two-hundred day shifting common worth is $65.03. The corporate has a debt-to-equity ratio of three.45, a fast ratio of 1.22 and a present ratio of 1.32. The corporate has a market capitalization of $57.76 billion, a price-to-earnings ratio of 49.42, a price-to-earnings-growth ratio of two.77 and a beta of 1.00.
Fortinet (NASDAQ:FTNT – Get Free Report) final posted its earnings outcomes on Tuesday, August sixth. The software program maker reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.16. Fortinet had a destructive return on fairness of two,160.10% and a internet margin of 23.71%. The agency had income of $1.43 billion for the quarter, in comparison with the consensus estimate of $1.40 billion. Throughout the identical quarter within the prior yr, the enterprise earned $0.31 EPS. The enterprise’s income for the quarter was up 10.9% on a year-over-year foundation. As a bunch, analysts forecast that Fortinet, Inc. will submit 1.7 earnings per share for the present fiscal yr.
Wall Avenue Analysts Forecast Progress
A number of equities analysts have just lately issued stories on FTNT shares. DZ Financial institution upgraded Fortinet from a “promote” score to a “maintain” score and set a $65.00 goal worth for the corporate in a analysis report on Thursday, August eighth. Needham & Firm LLC restated a “maintain” score on shares of Fortinet in a analysis report on Wednesday, August seventh. Citigroup boosted their goal worth on Fortinet from $66.00 to $76.00 and gave the inventory a “impartial” score in a analysis report on Friday, September thirteenth. Morgan Stanley decreased their goal worth on Fortinet from $73.00 to $69.00 and set an “obese” score for the corporate in a analysis report on Wednesday, July seventeenth. Lastly, Scotiabank boosted their goal worth on Fortinet from $61.00 to $75.00 and gave the inventory a “sector outperform” score in a analysis report on Wednesday, August seventh. Twenty-three equities analysis analysts have rated the inventory with a maintain score, ten have assigned a purchase score and one has assigned a powerful purchase score to the inventory. In keeping with MarketBeat.com, the corporate has a consensus score of “Maintain” and a consensus goal worth of $71.57.
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Insider Shopping for and Promoting
In different Fortinet information, VP Michael Xie offered 24,712 shares of the inventory in a transaction on Friday, August 2nd. The inventory was offered at a median worth of $56.11, for a complete transaction of $1,386,590.32. Following the sale, the vp now straight owns 10,847,018 shares within the firm, valued at roughly $608,626,179.98. The sale was disclosed in a doc filed with the SEC, which is accessible by means of the SEC web site. In different information, CEO Ken Xie offered 23,693 shares of the inventory in a transaction on Wednesday, August 14th. The inventory was offered at a median worth of $73.06, for a complete transaction of $1,731,010.58. Following the transaction, the chief govt officer now straight owns 48,842,522 shares of the corporate’s inventory, valued at roughly $3,568,434,657.32. The transaction was disclosed in a authorized submitting with the Securities & Trade Fee, which is offered by means of this hyperlink. Additionally, VP Michael Xie offered 24,712 shares of the agency’s inventory in a transaction on Friday, August 2nd. The inventory was offered at a median worth of $56.11, for a complete worth of $1,386,590.32. Following the completion of the transaction, the vp now straight owns 10,847,018 shares within the firm, valued at $608,626,179.98. The disclosure for this sale will be discovered right here. Insiders have offered 72,672 shares of firm inventory value $4,573,864 within the final 90 days. Insiders personal 18.00% of the corporate’s inventory.
Fortinet Profile
Fortinet, Inc offers cybersecurity and convergence of networking and safety options worldwide. It provides safe networking options concentrate on the convergence of networking and safety; community firewall options that encompass FortiGate knowledge facilities, hyperscale, and distributed firewalls, in addition to encrypted purposes; wi-fi LAN options; and safe connectivity options, together with FortiSwitch safe ethernet switches, FortiAP wi-fi native space community entry factors, FortiExtender 5G connectivity gateways, and different merchandise.
Featured Tales
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