Tri Ri Asset Management Corp purchased a new position in shares of Fortinet, Inc. (NASDAQ:FTNT – Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 45,676 shares of the software maker’s stock, valued at approximately $3,566,000. Fortinet makes up 1.8% of Tri Ri Asset Management Corp’s portfolio, making the stock its 21st largest position.
Several other large investors have also made changes to their positions in FTNT. Eastern Bank acquired a new stake in Fortinet in the third quarter valued at approximately $25,000. Ashton Thomas Securities LLC acquired a new stake in Fortinet in the third quarter valued at approximately $26,000. Private Wealth Management Group LLC boosted its position in Fortinet by 73.3% in the third quarter. Private Wealth Management Group LLC now owns 409 shares of the software maker’s stock valued at $32,000 after buying an additional 173 shares in the last quarter. Oakworth Capital Inc. acquired a new stake in Fortinet in the second quarter valued at approximately $33,000. Finally, City State Bank boosted its position in Fortinet by 900.0% in the third quarter. City State Bank now owns 500 shares of the software maker’s stock valued at $39,000 after buying an additional 450 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.
Insider Activity
In other news, Director William H. Neukom acquired 355 shares of Fortinet stock in a transaction on Friday, December 6th. The stock was acquired at an average cost of $98.50 per share, with a total value of $34,967.50. Following the transaction, the director now owns 150,245 shares of the company’s stock, valued at approximately $14,799,132.50. This trade represents a 0.24 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ken Xie sold 23,307 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $81.89, for a total transaction of $1,908,610.23. Following the completion of the sale, the chief executive officer now directly owns 48,915,530 shares of the company’s stock, valued at $4,005,692,751.70. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,745 shares of company stock worth $5,746,974 over the last three months. 18.00% of the stock is currently owned by insiders.
Analyst Ratings Changes
Get Our Latest Stock Analysis on FTNT
Fortinet Stock Up 0.6 %
Shares of NASDAQ FTNT opened at $98.60 on Friday. The stock has a market capitalization of $75.57 billion, a P/E ratio of 49.80, a P/E/G ratio of 2.77 and a beta of 1.00. The company has a 50-day moving average price of $87.98 and a 200-day moving average price of $73.80. Fortinet, Inc. has a 1 year low of $54.57 and a 1 year high of $100.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.34 and a quick ratio of 1.25.
About Fortinet
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
- Five stocks we like better than Fortinet
- What is Forex and How Does it Work?
- Top 3 Robotics and Automation Stocks for the Next AI Boom
- Dividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness
- Why a Stock Split Could Be a Game-Changer for Casey’s in 2025
- What Are Dividend Champions? How to Invest in the Champions
- Where to Invest in 2025: Top Stock Picks for Maximum Gains
Receive News & Ratings for Fortinet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortinet and related companies with MarketBeat.com's FREE daily email newsletter.