Y Intercept Hong Kong Ltd Has $933,000 Position in Fortinet, Inc. (NASDAQ:FTNT)

Y Intercept Hong Kong Ltd decreased its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 15.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,876 shares of the software maker’s stock after selling 1,748 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Fortinet were worth $933,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. FMR LLC boosted its holdings in shares of Fortinet by 276.3% in the 3rd quarter. FMR LLC now owns 3,685,230 shares of the software maker’s stock valued at $285,790,000 after purchasing an additional 2,705,767 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Fortinet by 3,155.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,237,244 shares of the software maker’s stock worth $95,948,000 after buying an additional 1,199,241 shares during the last quarter. State Street Corp boosted its stake in Fortinet by 2.9% in the third quarter. State Street Corp now owns 27,281,279 shares of the software maker’s stock valued at $2,115,663,000 after buying an additional 766,135 shares in the last quarter. Worldquant Millennium Advisors LLC grew its position in Fortinet by 98.9% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,457,858 shares of the software maker’s stock valued at $113,057,000 after acquiring an additional 724,887 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its stake in Fortinet by 1,084.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 657,311 shares of the software maker’s stock worth $62,103,000 after acquiring an additional 601,801 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Performance

NASDAQ FTNT opened at $107.09 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. The company has a fifty day simple moving average of $101.09 and a 200 day simple moving average of $89.48. Fortinet, Inc. has a 12-month low of $54.57 and a 12-month high of $114.82. The company has a market cap of $82.08 billion, a P/E ratio of 47.39, a PEG ratio of 4.19 and a beta of 1.01.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $0.67 earnings per share (EPS) 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%. Sell-side analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fortinet news, CFO Keith Jensen sold 23,500 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $113.56, for a total transaction of $2,668,660.00. Following the transaction, the chief financial officer now directly owns 4,736 shares in the company, valued at approximately $537,820.16. This trade represents a 83.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William H. Neukom acquired 355 shares of the business’s stock in a transaction on Friday, December 6th. The shares were purchased at an average cost of $98.50 per share, for a total transaction of $34,967.50. Following the completion of the acquisition, the director now directly owns 150,245 shares in the company, valued at approximately $14,799,132.50. The trade was a 0.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 87,120 shares of company stock valued at $8,991,409. Corporate insiders own 18.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FTNT. Susquehanna lifted their price target on shares of Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Needham & Company LLC restated a “hold” rating on shares of Fortinet in a research report on Friday, February 7th. Stifel Nicolaus upped their price target on shares of Fortinet from $103.00 to $115.00 and gave the stock a “hold” rating in a report on Friday, February 7th. Robert W. Baird reissued a “neutral” rating and set a $112.00 price objective (up previously from $105.00) on shares of Fortinet in a report on Monday, February 3rd. Finally, Citigroup upped their target price on Fortinet from $100.00 to $101.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. One investment 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $103.72.

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.