Nisa Investment Advisors LLC grew its position in Fortinet Inc (NASDAQ:FTNT) by 59.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 45,154 shares of the software maker’s stock after purchasing an additional 16,855 shares during the period. Nisa Investment Advisors LLC’s holdings in Fortinet were worth $1,973,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. GLG Partners LP purchased a new position in shares of Fortinet during the 2nd quarter worth approximately $145,000. Ropes Wealth Advisors LLC boosted its position in shares of Fortinet by 67.3% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 4,610 shares of the software maker’s stock worth $173,000 after purchasing an additional 1,855 shares during the period. IFM Investors Pty Ltd purchased a new position in shares of Fortinet during the 3rd quarter worth approximately $220,000. Toronto Dominion Bank boosted its position in shares of Fortinet by 249.2% during the 3rd quarter. Toronto Dominion Bank now owns 6,310 shares of the software maker’s stock worth $226,000 after purchasing an additional 4,503 shares during the period. Finally, Parametrica Management Ltd purchased a new position in shares of Fortinet during the 3rd quarter worth approximately $254,000. 70.68% of the stock is owned by institutional investors and hedge funds.
In other news, VP Michael Xie sold 40,000 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $41.95, for a total value of $1,678,000.00. Following the sale, the vice president now directly owns 6,692,200 shares in the company, valued at approximately $280,737,790. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John Whittle sold 13,749 shares of the firm’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $45.00, for a total transaction of $618,705.00. Following the completion of the sale, the vice president now owns 18,430 shares in the company, valued at $829,350. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,355 shares of company stock worth $3,072,511. 16.40% of the stock is owned by company insiders.
Shares of Fortinet Inc (NASDAQ FTNT) opened at $46.01 on Friday. The stock has a market cap of $8,001.14, a P/E ratio of 83.65, a price-to-earnings-growth ratio of 4.70 and a beta of 0.93. Fortinet Inc has a fifty-two week low of $31.86 and a fifty-two week high of $46.43.
Fortinet (NASDAQ:FTNT) last released its earnings results on Thursday, October 26th. The software maker reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.05. The company had revenue of $374.20 million for the quarter, compared to analyst estimates of $370.67 million. Fortinet had a net margin of 5.93% and a return on equity of 10.92%. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.18 EPS. research analysts expect that Fortinet Inc will post 0.48 EPS for the current year.
Fortinet announced that its Board of Directors has authorized a share buyback plan on Thursday, October 26th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the software maker to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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Fortinet, Inc is a network security company. The Company provides cyber security solutions to a range of enterprises, service providers and government organizations across the world. Its network security solution consists of FortiGate physical, virtual machine and cloud platforms, which provide integrated security and networking functions to protect data, applications and users from network-and content-level security threats.
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