Kintegral Advisory LLC Has $880,000 Stock Holdings in Fortinet, Inc. (NASDAQ:FTNT)

Kintegral Advisory LLC lowered its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 32.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,139 shares of the software maker's stock after selling 4,481 shares during the period. Kintegral Advisory LLC's holdings in Fortinet were worth $880,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SJS Investment Consulting Inc. increased its stake in Fortinet by 703.1% in the first quarter. SJS Investment Consulting Inc. now owns 257 shares of the software maker's stock valued at $25,000 after purchasing an additional 225 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in Fortinet in the 4th quarter worth approximately $27,000. ORG Partners LLC boosted its stake in shares of Fortinet by 47.5% in the 1st quarter. ORG Partners LLC now owns 348 shares of the software maker's stock valued at $34,000 after purchasing an additional 112 shares in the last quarter. EQ Wealth Advisors LLC bought a new stake in Fortinet in the 1st quarter worth $35,000. Finally, Oarsman Capital Inc. lifted its position in shares of Fortinet by 188.9% in the 4th quarter. Oarsman Capital Inc. now owns 416 shares of the software maker's stock worth $39,000 after purchasing an additional 272 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Price Performance

NASDAQ:FTNT traded up $0.74 during trading hours on Monday, hitting $106.40. The company's stock had a trading volume of 2,910,181 shares, compared to its average volume of 4,857,398. Fortinet, Inc. has a 52-week low of $54.57 and a 52-week high of $114.82. The company has a market capitalization of $81.44 billion, a PE ratio of 43.79, a PEG ratio of 3.64 and a beta of 1.06. The business's 50-day moving average is $103.23 and its two-hundred day moving average is $100.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.29 and a current ratio of 1.36.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its quarterly 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. The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.54 billion. Fortinet had a return on equity of 148.79% and a net margin of 30.60%. The business's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the business posted $0.43 earnings per share. As a group, research analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Insider Activity

In related news, CEO Ken Xie sold 158,488 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $106.10, for a total transaction of $16,815,576.80. Following the sale, the chief executive officer directly owned 51,391,879 shares in the company, valued at approximately $5,452,678,361.90. This trade represents a 0.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael Xie sold 3,546 shares of Fortinet stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $106.11, for a total value of $376,266.06. Following the sale, the vice president owned 11,000,068 shares in the company, valued at $1,167,217,215.48. This represents a 0.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.00% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on FTNT. Wells Fargo & Company reduced their price objective on shares of Fortinet from $105.00 to $95.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. BMO Capital Markets reduced their price target on shares of Fortinet from $122.00 to $110.00 and set a "market perform" rating on the stock in a research report on Thursday, May 8th. Roth Capital set a $103.00 price target on shares of Fortinet and gave the stock a "neutral" rating in a report on Tuesday, April 22nd. KeyCorp lowered their price objective on shares of Fortinet from $120.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Finally, Wall Street Zen downgraded shares of Fortinet from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. One investment analyst has rated the stock with a sell rating, twenty-one have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $105.62.

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.