Kintegral Advisory LLC Has $1.29 Million Holdings in Fortinet, Inc. (NASDAQ:FTNT)

Kintegral Advisory LLC cut its stake in Fortinet, Inc. (NASDAQ:FTNT) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,620 shares of the software maker’s stock after selling 635 shares during the period. Kintegral Advisory LLC’s holdings in Fortinet were worth $1,287,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. First Hawaiian Bank acquired a new position in Fortinet during the 4th quarter worth $670,000. LVM Capital Management Ltd. MI raised its position in shares of Fortinet by 10.7% during the fourth quarter. LVM Capital Management Ltd. MI now owns 89,827 shares of the software maker’s stock worth $8,487,000 after acquiring an additional 8,707 shares during the last quarter. Apollon Wealth Management LLC lifted its stake in shares of Fortinet by 7.6% during the third quarter. Apollon Wealth Management LLC now owns 15,296 shares of the software maker’s stock valued at $1,186,000 after acquiring an additional 1,081 shares during the period. Trilogy Capital Inc. boosted its holdings in Fortinet by 17.8% in the fourth quarter. Trilogy Capital Inc. now owns 23,499 shares of the software maker’s stock valued at $2,220,000 after acquiring an additional 3,544 shares during the last quarter. Finally, Forsta AP Fonden increased its position in Fortinet by 11.8% in the third quarter. Forsta AP Fonden now owns 135,500 shares of the software maker’s stock worth $10,508,000 after purchasing an additional 14,300 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director William H. Neukom purchased 355 shares of the business’s stock in a transaction on Friday, December 6th. The stock was purchased at an average price of $98.50 per share, for a total transaction of $34,967.50. Following the completion of the purchase, the director now directly owns 150,245 shares in the company, valued at $14,799,132.50. The trade was a 0.24 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ken Xie sold 22,916 shares of Fortinet stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $97.93, for a total transaction of $2,244,163.88. Following the completion of the transaction, the chief executive officer now directly owns 48,983,683 shares of the company’s stock, valued at approximately $4,796,972,076.19. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,110 shares of company stock worth $8,751,689 in the last quarter. Corporate insiders own 18.00% of the company’s stock.

Analyst Upgrades and Downgrades

FTNT has been the topic of a number of research reports. Morgan Stanley upped their target price on shares of Fortinet from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Bank of America raised their price objective on shares of Fortinet from $87.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. BMO Capital Markets lifted their target price on shares of Fortinet from $88.00 to $100.00 and gave the stock a “market perform” rating in a report on Tuesday, November 19th. Scotiabank increased their price target on Fortinet from $115.00 to $135.00 and gave the company a “sector outperform” rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Fortinet from $99.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. One 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 company’s stock. Based on data from MarketBeat.com, Fortinet currently has a consensus rating of “Hold” and a consensus target price of $103.72.

Fortinet Price Performance

Shares of FTNT opened at $110.02 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.47 and a debt-to-equity ratio of 0.67. Fortinet, Inc. has a twelve month low of $54.57 and a twelve month high of $114.82. The stock has a market capitalization of $84.32 billion, a P/E ratio of 48.68, a P/E/G ratio of 4.19 and a beta of 1.01. The company has a 50 day moving average of $100.12 and a 200-day moving average of $88.54.

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