Cornerstone Capital Management Holdings LLC. boosted its stake in Fortinet Inc (NASDAQ:FTNT) by 52.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 688,359 shares of the software maker’s stock after purchasing an additional 238,107 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.40% of Fortinet worth $30,072,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in Fortinet by 30.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 443,180 shares of the software maker’s stock valued at $15,914,000 after purchasing an additional 102,195 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in Fortinet by 2.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,010,210 shares of the software maker’s stock valued at $44,136,000 after buying an additional 24,194 shares during the period. Victory Capital Management Inc. purchased a new position in Fortinet in the 3rd quarter valued at approximately $1,300,000. New York State Common Retirement Fund boosted its position in Fortinet by 2.2% in the 3rd quarter. New York State Common Retirement Fund now owns 519,640 shares of the software maker’s stock valued at $18,624,000 after buying an additional 11,333 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in Fortinet by 2.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 457,676 shares of the software maker’s stock valued at $16,404,000 after buying an additional 9,730 shares during the period. Hedge funds and other institutional investors own 68.77% of the company’s stock.
In related news, Director Christopher B. Paisley sold 4,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $46.71, for a total value of $186,840.00. Following the completion of the sale, the director now directly owns 72,937 shares of the company’s stock, valued at $3,406,887.27. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ken Xie sold 89,423 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $45.08, for a total transaction of $4,031,188.84. Following the completion of the sale, the chief executive officer now directly owns 12,608,811 shares of the company’s stock, valued at $568,405,199.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 169,939 shares of company stock valued at $7,733,246. Corporate insiders own 17.00% of the company’s stock.
Shares of Fortinet Inc (NASDAQ:FTNT) opened at $54.25 on Wednesday. The stock has a market cap of $9,187.56, a price-to-earnings ratio of 97.64, a PEG ratio of 4.39 and a beta of 0.73. Fortinet Inc has a 1 year low of $35.44 and a 1 year high of $54.95.
Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Monday, February 5th. The software maker reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.03. The business had revenue of $416.70 million during the quarter, compared to analysts’ expectations of $409.04 million. Fortinet had a net margin of 2.10% and a return on equity of 11.77%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 EPS. analysts predict that Fortinet Inc will post 0.74 EPS for the current year.
Fortinet Company Profile
Fortinet, Inc is a network security company. The Company provides cyber security solutions to a range of enterprises, service providers and government organizations across the world. Its network security solution consists of FortiGate physical, virtual machine and cloud platforms, which provide integrated security and networking functions to protect data, applications and users from network-and content-level security threats.
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