Trilogy Capital Inc. Makes New $415,000 Investment in Fortinet, Inc. (NASDAQ:FTNT)

Trilogy Capital Inc. acquired a new position in shares of Fortinet, Inc. (NASDAQ:FTNTFree Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,071 shares of the software maker’s stock, valued at approximately $415,000.

Other large investors also recently bought and sold shares of the company. Meritas Wealth Management LLC purchased a new position in shares of Fortinet in the 1st quarter valued at about $226,000. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Fortinet by 51.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 20,790 shares of the software maker’s stock valued at $1,420,000 after purchasing an additional 7,086 shares in the last quarter. Opinicus Capital Inc. purchased a new position in shares of Fortinet in the 1st quarter valued at about $232,000. KRS Capital Management LLC increased its holdings in shares of Fortinet by 3.5% in the 1st quarter. KRS Capital Management LLC now owns 47,795 shares of the software maker’s stock valued at $3,265,000 after purchasing an additional 1,600 shares in the last quarter. Finally, New England Research & Management Inc. increased its holdings in shares of Fortinet by 8.7% in the 1st quarter. New England Research & Management Inc. now owns 12,475 shares of the software maker’s stock valued at $852,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Analyst Ratings Changes

FTNT has been the subject of several recent research reports. Needham & Company LLC restated a “hold” rating on shares of Fortinet in a report on Tuesday, June 11th. Scotiabank decreased their price target on shares of Fortinet from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research note on Friday, May 3rd. Evercore ISI decreased their price target on shares of Fortinet from $72.00 to $67.00 and set an “in-line” rating on the stock in a research note on Friday, May 3rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price target on shares of Fortinet in a research note on Tuesday, June 11th. Finally, Barclays decreased their target price on shares of Fortinet from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, twenty have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $70.03.

Check Out Our Latest Research Report on FTNT

Insiders Place Their Bets

In other Fortinet news, CFO Keith Jensen sold 18,701 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $59.68, for a total transaction of $1,116,075.68. Following the sale, the chief financial officer now owns 4,663 shares in the company, valued at approximately $278,287.84. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Ken Xie sold 24,235 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $59.53, for a total value of $1,442,709.55. Following the transaction, the chief executive officer now owns 48,742,483 shares in the company, valued at approximately $2,901,640,012.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Keith Jensen sold 18,701 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $59.68, for a total value of $1,116,075.68. Following the completion of the transaction, the chief financial officer now owns 4,663 shares in the company, valued at approximately $278,287.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,638 shares of company stock worth $5,705,568. 18.00% of the stock is owned by corporate insiders.

Fortinet Stock Performance

Shares of FTNT traded up $0.23 during midday trading on Friday, hitting $60.27. 7,987,420 shares of the stock traded hands, compared to its average volume of 5,622,995. The firm has a market capitalization of $46.04 billion, a PE ratio of 39.39, a price-to-earnings-growth ratio of 2.95 and a beta of 0.98. The business’s 50 day moving average price is $60.58 and its two-hundred day moving average price is $63.72. Fortinet, Inc. has a 1-year low of $44.12 and a 1-year high of $81.24. The company has a debt-to-equity ratio of 13.38, a quick ratio of 1.08 and a current ratio of 1.20.

Fortinet (NASDAQ:FTNTGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The software maker reported $0.43 EPS for the quarter, topping the consensus estimate of $0.38 by $0.05. Fortinet had a net margin of 22.23% and a negative return on equity of 2,235.48%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the business earned $0.29 earnings per share. Fortinet’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts predict that Fortinet, Inc. will post 1.46 EPS for the current fiscal year.

About Fortinet

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Fortinet (NASDAQ:FTNT)

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