ASR Vermogensbeheer N.V. Has $5.73 Million Holdings in Fortinet, Inc. $FTNT

Key Points

• ASR Vermogensbeheer N.V. has increased its holdings in Fortinet, Inc. by 6.4%, owning 54,194 shares valued at approximately $5.73 million.
• Fortinet's stock is currently trading at $85.79, with a market cap of $65.74 billion and a PE ratio of 34.18.
• Recent insider trading includes VP Michael Xie selling 476,596 shares for over $46 million, impacting ownership levels.

ASR Vermogensbeheer N.V. increased its holdings in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 6.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,194 shares of the software maker's stock after buying an additional 3,261 shares during the period. ASR Vermogensbeheer N.V.'s holdings in Fortinet were worth $5,729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC raised its holdings in Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker's stock valued at $976,000 after acquiring an additional 221 shares in the last quarter. Bison Wealth LLC acquired a new stake in shares of Fortinet during the 4th quarter worth $585,000. NBC Securities Inc. increased its position in shares of Fortinet by 99,075.0% in the first quarter. NBC Securities Inc. now owns 3,967 shares of the software maker's stock worth $381,000 after purchasing an additional 3,963 shares during the period. Retirement Planning Group LLC raised its stake in Fortinet by 2.6% in the first quarter. Retirement Planning Group LLC now owns 5,589 shares of the software maker's stock valued at $538,000 after purchasing an additional 139 shares in the last quarter. Finally, Enclave Advisors LLC lifted its position in Fortinet by 5.8% during the first quarter. Enclave Advisors LLC now owns 17,243 shares of the software maker's stock worth $1,660,000 after purchasing an additional 950 shares during the period. 83.71% of the stock is currently owned by institutional investors.

Fortinet Stock Down 0.6%

Shares of NASDAQ FTNT opened at $85.79 on Friday. The company has a 50 day simple moving average of $83.35 and a 200 day simple moving average of $95.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.33 and a quick ratio of 1.24. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $114.82. The firm has a market cap of $65.74 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 3.26 and a beta of 1.09.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The software maker reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.05. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. Fortinet had a net margin of 30.60% and a return on equity of 111.46%. The company's revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 EPS. On average, research analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current year.

Insider Buying and Selling at Fortinet

In other news, VP Michael Xie sold 476,596 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $98.48, for a total transaction of $46,935,174.08. Following the completion of the transaction, the vice president directly owned 9,730,560 shares in the company, valued at $958,265,548.80. This trade represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ken Xie sold 158,486 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $98.48, for a total value of $15,607,701.28. Following the completion of the sale, the chief executive officer owned 51,391,879 shares in the company, valued at $5,061,072,243.92. The trade was a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

FTNT has been the topic of a number of analyst reports. Evercore ISI reduced their price objective on shares of Fortinet from $105.00 to $78.00 and set an "in-line" rating on the stock in a research note on Friday, August 8th. Wall Street Zen downgraded shares of Fortinet from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Citigroup reissued a "neutral" rating and issued a $85.00 price objective (down from $110.00) on shares of Fortinet in a research note on Monday, August 18th. Rosenblatt Securities restated a "neutral" rating and set a $85.00 price objective (down from $125.00) on shares of Fortinet in a research report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Fortinet in a report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, twenty-six have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $97.03.

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.

Want to see what other hedge funds are holding FTNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortinet, Inc. (NASDAQ:FTNT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.