Consilium Wealth Advisory LLC Invests $523,000 in Fortinet, Inc. (NASDAQ:FTNT)

Consilium Wealth Advisory LLC bought a new stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,435 shares of the software maker's stock, valued at approximately $523,000.

Several other institutional investors also recently modified their holdings of FTNT. SJS Investment Consulting Inc. increased its holdings in Fortinet by 703.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 257 shares of the software maker's stock worth $25,000 after purchasing an additional 225 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Fortinet during the fourth quarter worth about $27,000. Oarsman Capital Inc. increased its stake in shares of Fortinet by 188.9% in the fourth quarter. Oarsman Capital Inc. now owns 416 shares of the software maker's stock valued at $39,000 after buying an additional 272 shares during the period. Graney & King LLC bought a new position in Fortinet in the 4th quarter valued at approximately $43,000. Finally, Banque Transatlantique SA acquired a new stake in Fortinet during the 4th quarter worth approximately $43,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Stock Down 2.0%

NASDAQ FTNT traded down $2.06 during trading hours on Wednesday, hitting $100.82. The company's stock had a trading volume of 4,336,732 shares, compared to its average volume of 4,959,030. The company has a market capitalization of $77.17 billion, a PE ratio of 41.49, a price-to-earnings-growth ratio of 3.55 and a beta of 1.06. The company has a current ratio of 1.36, a quick ratio of 1.29 and a debt-to-equity ratio of 0.25. Fortinet, Inc. has a 52 week low of $54.57 and a 52 week high of $114.82. The company's 50-day simple moving average is $101.73 and its two-hundred day simple moving average is $100.21.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The software maker reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.05. Fortinet had a return on equity of 148.79% and a net margin of 30.60%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the company earned $0.43 earnings per share. The company's revenue for the quarter was up 13.8% on a year-over-year basis. Research analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Roth Capital set a $103.00 price target on shares of Fortinet and gave the company a "neutral" rating in a research note on Tuesday, April 22nd. Stifel Nicolaus lowered their target price on Fortinet from $115.00 to $95.00 and set a "hold" rating for the company in a research report on Thursday, May 8th. Wells Fargo & Company reduced their price target on Fortinet from $105.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Scotiabank lowered their price objective on Fortinet from $135.00 to $115.00 and set a "sector outperform" rating for the company in a research report on Thursday, May 8th. Finally, Robert W. Baird upped their target price on Fortinet from $110.00 to $113.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, twenty have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $104.80.

Insider Transactions at Fortinet

In other Fortinet news, Director William H. Neukom bought 335 shares of Fortinet stock in a transaction dated Friday, June 6th. The stock was bought at an average cost of $104.22 per share, with a total value of $34,913.70. Following the completion of the acquisition, the director now directly owns 301,471 shares in the company, valued at approximately $31,419,307.62. The trade was a 0.11% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ken Xie sold 158,488 shares of Fortinet stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $106.10, for a total value of $16,815,576.80. Following the sale, the chief executive officer now owns 51,391,879 shares in the company, valued at $5,452,678,361.90. This trade represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.20% of the company's stock.

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.