Tucker Asset Management LLC Has $303,000 Stock Holdings in Fortinet, Inc. (NASDAQ:FTNT)

Tucker Asset Management LLC lifted its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 32,010.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,211 shares of the software maker’s stock after purchasing an additional 3,201 shares during the quarter. Tucker Asset Management LLC’s holdings in Fortinet were worth $303,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FTNT. Norges Bank acquired a new position in shares of Fortinet during the 4th quarter worth approximately $724,048,000. FMR LLC grew its holdings in Fortinet by 276.3% during the third quarter. FMR LLC now owns 3,685,230 shares of the software maker’s stock worth $285,790,000 after purchasing an additional 2,705,767 shares during the period. Amundi lifted its stake in shares of Fortinet by 36.7% during the 4th quarter. Amundi now owns 6,577,467 shares of the software maker’s stock worth $631,700,000 after buying an additional 1,766,860 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in Fortinet by 136.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 2,919,952 shares of the software maker’s stock valued at $275,877,000 after acquiring an additional 1,682,708 shares during the period. Finally, State Street Corp boosted its holdings in shares of Fortinet by 2.9% during the third quarter. State Street Corp now owns 27,281,279 shares of the software maker’s stock worth $2,115,663,000 after acquiring an additional 766,135 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Buying and Selling at Fortinet

In other news, VP Michael Xie sold 326,784 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $98.17, for a total value of $32,080,385.28. Following the transaction, the vice president now owns 11,000,068 shares in the company, valued at approximately $1,079,876,675.56. This represents a 2.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ken Xie sold 23,044 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $93.32, for a total transaction of $2,150,466.08. Following the sale, the chief executive officer now owns 49,039,698 shares in the company, valued at approximately $4,576,384,617.36. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 599,988 shares of company stock valued at $59,094,530. 18.00% of the stock is currently owned by company insiders.

Fortinet Price Performance

Shares of Fortinet stock opened at $96.60 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.47. The company has a fifty day moving average of $102.97 and a 200-day moving average of $93.14. The stock has a market capitalization of $74.28 billion, a price-to-earnings ratio of 42.74, a price-to-earnings-growth ratio of 4.19 and a beta of 0.97. Fortinet, Inc. has a 52-week low of $54.57 and a 52-week high of $114.82.

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

Analyst Ratings Changes

Several research firms have commented on FTNT. Susquehanna raised their target price on shares of Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Baird R W lowered shares of Fortinet from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Fortinet in a research report on Friday, February 7th. Mizuho lifted their target price on Fortinet from $68.00 to $78.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Finally, Jefferies Financial Group increased their price target on Fortinet from $95.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $105.69.

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.