Universal Beteiligungs und Servicegesellschaft mbH Acquires Shares of 793,413 Fortinet, Inc. (NASDAQ:FTNT)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 793,413 shares of the software maker's stock, valued at approximately $74,962,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.10% of Fortinet as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Manchester Capital Management LLC increased its position in Fortinet by 13.5% in the 4th quarter. Manchester Capital Management LLC now owns 843 shares of the software maker's stock valued at $80,000 after acquiring an additional 100 shares during the period. Fielder Capital Group LLC increased its position in shares of Fortinet by 1.6% during the fourth quarter. Fielder Capital Group LLC now owns 6,904 shares of the software maker's stock worth $652,000 after buying an additional 111 shares during the period. Sheaff Brock Investment Advisors LLC increased its position in shares of Fortinet by 1.4% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 8,346 shares of the software maker's stock worth $789,000 after buying an additional 114 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Fortinet by 1.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 9,390 shares of the software maker's stock worth $902,000 after buying an additional 116 shares during the period. Finally, Evergreen Capital Management LLC increased its position in shares of Fortinet by 2.0% during the fourth quarter. Evergreen Capital Management LLC now owns 6,240 shares of the software maker's stock worth $590,000 after buying an additional 124 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Trading Down 2.4%

Fortinet stock traded down $2.47 during trading on Thursday, hitting $102.04. The company's stock had a trading volume of 4,731,104 shares, compared to its average volume of 4,971,492. The stock has a market capitalization of $78.10 billion, a price-to-earnings ratio of 45.15, a P/E/G ratio of 4.19 and a beta of 1.16. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.47. The stock's fifty day moving average is $99.63 and its 200 day moving average is $99.41. Fortinet, Inc. has a 1-year low of $54.57 and a 1-year high of $114.82.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The software maker reported $0.58 earnings per share (EPS) 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 analyst estimates of $1.54 billion. Fortinet had a return on equity of 256.53% and a net margin of 29.30%. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 earnings per share. As a group, equities research analysts predict that Fortinet, Inc. will post 2.09 EPS for the current year.

Insider Buying and Selling at Fortinet

In other Fortinet news, CEO Ken Xie sold 158,488 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 51,391,879 shares in the company, valued at $5,452,678,361.90. The trade was a 0.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William H. Neukom bought 328 shares of the stock in a transaction on Thursday, March 6th. The stock was purchased at an average price of $106.33 per share, for a total transaction of $34,876.24. Following the purchase, the director now directly owns 300,006 shares of the company's stock, valued at approximately $31,899,637.98. This represents a 0.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 697,818 shares of company stock valued at $69,539,128 in the last ninety days. Company insiders own 17.20% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on FTNT shares. Robert W. Baird raised their price target on shares of Fortinet from $110.00 to $113.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Stifel Nicolaus reduced their price target on shares of Fortinet from $115.00 to $95.00 and set a "hold" rating for the company in a report on Thursday, May 8th. The Goldman Sachs Group raised their price target on shares of Fortinet from $114.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, February 7th. BMO Capital Markets dropped their price objective on shares of Fortinet from $122.00 to $110.00 and set a "market perform" rating on the stock in a research note on Thursday, May 8th. Finally, Wall Street Zen raised shares of Fortinet from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, twenty have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $104.80.

Fortinet Profile

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.