Czech National Bank Has $10.03 Million Position in Fortinet, Inc. (NASDAQ:FTNT)

Czech National Bank boosted its stake in Fortinet, Inc. (NASDAQ:FTNT) by 7.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 129,330 shares of the software maker’s stock after purchasing an additional 8,502 shares during the quarter. Czech National Bank’s holdings in Fortinet were worth $10,030,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Winthrop Capital Management LLC bought a new stake in Fortinet in the 1st quarter valued at about $25,000. Rise Advisors LLC raised its position in shares of Fortinet by 135.6% during the first quarter. Rise Advisors LLC now owns 377 shares of the software maker’s stock worth $26,000 after purchasing an additional 217 shares during the period. Vima LLC bought a new position in shares of Fortinet in the 4th quarter worth $25,000. Oakworth Capital Inc. acquired a new stake in Fortinet in the 2nd quarter valued at $33,000. Finally, Creekmur Asset Management LLC bought a new stake in Fortinet during the 4th quarter valued at $32,000. 83.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on FTNT shares. Citigroup raised their price objective on shares of Fortinet from $66.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, September 13th. Royal Bank of Canada upped their target price on shares of Fortinet from $68.00 to $72.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 7th. Hsbc Global Res upgraded shares of Fortinet from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, August 7th. DZ Bank upgraded shares of Fortinet from a “sell” rating to a “hold” rating and set a $65.00 price target on the stock in a research note on Thursday, August 8th. Finally, StockNews.com upgraded shares of Fortinet from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Twenty-three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $71.57.

Insider Buying and Selling at Fortinet

In other Fortinet news, CEO Ken Xie sold 24,267 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $60.01, for a total transaction of $1,456,262.67. Following the completion of the sale, the chief executive officer now directly owns 48,777,294 shares of the company’s stock, valued at approximately $2,927,125,412.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Fortinet news, CEO Ken Xie sold 24,267 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $60.01, for a total transaction of $1,456,262.67. Following the completion of the sale, the chief executive officer now directly owns 48,777,294 shares of the company’s stock, valued at approximately $2,927,125,412.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael Xie sold 24,712 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $56.11, for a total transaction of $1,386,590.32. Following the completion of the sale, the vice president now directly owns 10,847,018 shares of the company’s stock, valued at approximately $608,626,179.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,210 shares of company stock valued at $6,337,801. Insiders own 18.00% of the company’s stock.

Fortinet Stock Up 1.3 %

NASDAQ:FTNT traded up $1.03 during mid-day trading on Friday, hitting $78.01. 3,144,257 shares of the company’s stock were exchanged, compared to its average volume of 5,615,151. Fortinet, Inc. has a one year low of $44.12 and a one year high of $78.50. The company has a debt-to-equity ratio of 3.45, a current ratio of 1.32 and a quick ratio of 1.22. The business has a fifty day moving average price of $72.27 and a 200 day moving average price of $65.68. The company has a market cap of $59.59 billion, a PE ratio of 50.99, a P/E/G ratio of 2.77 and a beta of 1.00.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Tuesday, August 6th. The software maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.16. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. Fortinet had a net margin of 23.71% and a negative return on equity of 2,160.10%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Equities analysts predict that Fortinet, Inc. will post 1.72 EPS for the current year.

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.