12,288 Shares in Fortinet, Inc. (NASDAQ:FTNT) Acquired by CreativeOne Wealth LLC

CreativeOne Wealth LLC bought a new stake in Fortinet, Inc. (NASDAQ:FTNT) during the third quarter, Holdings Channel.com reports. The firm bought 12,288 shares of the software maker’s stock, valued at approximately $953,000.

Other large investors have also modified their holdings of the company. Eagle Capital Management LLC increased its position in shares of Fortinet by 0.6% during the 3rd quarter. Eagle Capital Management LLC now owns 25,772 shares of the software maker’s stock worth $1,999,000 after purchasing an additional 141 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in shares of Fortinet by 3.9% during the third quarter. OneDigital Investment Advisors LLC now owns 3,782 shares of the software maker’s stock valued at $293,000 after acquiring an additional 141 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Fortinet by 2.0% during the second quarter. Parallel Advisors LLC now owns 7,504 shares of the software maker’s stock valued at $452,000 after acquiring an additional 148 shares during the last quarter. Crewe Advisors LLC raised its stake in shares of Fortinet by 8.8% in the 3rd quarter. Crewe Advisors LLC now owns 1,958 shares of the software maker’s stock valued at $152,000 after acquiring an additional 158 shares during the period. Finally, Private Wealth Management Group LLC lifted its holdings in shares of Fortinet by 73.3% in the 3rd quarter. Private Wealth Management Group LLC now owns 409 shares of the software maker’s stock worth $32,000 after acquiring an additional 173 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Activity

In related news, CFO Keith Jensen sold 4,250 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.83, for a total value of $386,027.50. Following the transaction, the chief financial officer now owns 4,689 shares in the company, valued at $425,901.87. The trade was a 47.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ken Xie sold 23,538 shares of Fortinet stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $74.94, for a total value of $1,763,937.72. Following the completion of the transaction, the chief executive officer now owns 48,878,806 shares in the company, valued at $3,662,977,721.64. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,745 shares of company stock valued at $5,746,974. 18.00% of the stock is currently owned by company insiders.

Fortinet Stock Up 1.1 %

Shares of NASDAQ FTNT opened at $95.05 on Friday. The business has a 50-day moving average price of $83.96 and a 200 day moving average price of $71.28. The stock has a market cap of $72.85 billion, a PE ratio of 48.01, a price-to-earnings-growth ratio of 2.73 and a beta of 1.00. The company has a quick ratio of 1.25, a current ratio of 1.34 and a debt-to-equity ratio of 1.09. Fortinet, Inc. has a 52-week low of $50.65 and a 52-week high of $100.59.

Wall Street Analyst Weigh In

A number of analysts have issued reports on FTNT shares. Susquehanna boosted their target price on Fortinet from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Barclays boosted their price objective on Fortinet from $85.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Mizuho cut Fortinet from a “neutral” rating to an “underperform” rating and set a $68.00 target price for the company. in a report on Thursday, October 17th. Hsbc Global Res raised Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Truist Financial reissued a “buy” rating and set a $105.00 price target (up previously from $85.00) on shares of Fortinet in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $88.93.

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.