Aptus Capital Advisors LLC Has $477,000 Stock Holdings in Fortinet, Inc. (NASDAQ:FTNT)

Aptus Capital Advisors LLC lifted its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 15.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,157 shares of the software maker’s stock after purchasing an additional 813 shares during the period. Aptus Capital Advisors LLC’s holdings in Fortinet were worth $477,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Eastern Bank bought a new stake in Fortinet in the third quarter worth about $25,000. Ashton Thomas Securities LLC bought a new position in Fortinet during the third quarter valued at $26,000. Private Wealth Management Group LLC raised its stake in shares of Fortinet by 73.3% in the third quarter. Private Wealth Management Group LLC now owns 409 shares of the software maker’s stock valued at $32,000 after buying an additional 173 shares during the period. Oakworth Capital Inc. purchased a new position in shares of Fortinet during the 2nd quarter valued at $33,000. Finally, Versant Capital Management Inc grew its stake in shares of Fortinet by 61.2% during the 2nd quarter. Versant Capital Management Inc now owns 627 shares of the software maker’s stock worth $38,000 after acquiring an additional 238 shares during the period. Institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

FTNT has been the subject of a number of research reports. TD Cowen increased their target price on shares of Fortinet from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. DZ Bank raised shares of Fortinet from a “sell” rating to a “hold” rating and set a $65.00 price objective for the company in a report on Thursday, August 8th. Barclays raised their price objective on shares of Fortinet from $85.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. HSBC raised Fortinet from a “hold” rating to a “buy” rating and raised their price target for the stock from $83.00 to $111.00 in a report on Monday, November 11th. Finally, Hsbc Global Res raised Fortinet from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $79.52.

Fortinet Trading Down 0.3 %

NASDAQ FTNT opened at $94.20 on Friday. The stock’s 50-day simple moving average is $80.76 and its two-hundred day simple moving average is $69.24. Fortinet, Inc. has a twelve month low of $49.97 and a twelve month high of $100.59. The company has a quick ratio of 1.25, a current ratio of 1.34 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $72.20 billion, a price-to-earnings ratio of 47.58, a PEG ratio of 2.93 and a beta of 1.00.

Insider Buying and Selling at Fortinet

In other news, CEO Ken Xie sold 23,307 shares of Fortinet stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $81.89, for a total value of $1,908,610.23. Following the transaction, the chief executive officer now owns 48,915,530 shares in the company, valued at approximately $4,005,692,751.70. The trade was a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 18.00% of the company’s stock.

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.