L & S Advisors Inc Has $1 Million Holdings in Fortinet Inc (FTNT)

Share on StockTwits

L & S Advisors Inc decreased its holdings in shares of Fortinet Inc (NASDAQ:FTNT) by 20.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,235 shares of the software maker’s stock after selling 3,615 shares during the period. L & S Advisors Inc’s holdings in Fortinet were worth $1,003,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tarbox Family Office Inc. bought a new position in Fortinet during the fourth quarter worth about $25,000. Sun Life Financial INC bought a new position in Fortinet during the fourth quarter worth about $28,000. Guardian Life Insurance Co. of America bought a new position in Fortinet during the fourth quarter worth about $29,000. Bremer Trust National Association bought a new position in Fortinet during the fourth quarter worth about $33,000. Finally, Gemmer Asset Management LLC lifted its stake in Fortinet by 145.6% during the fourth quarter. Gemmer Asset Management LLC now owns 641 shares of the software maker’s stock worth $45,000 after purchasing an additional 380 shares during the period. Hedge funds and other institutional investors own 73.78% of the company’s stock.

Shares of Fortinet stock traded down $0.64 during midday trading on Friday, reaching $83.74. The company had a trading volume of 391,661 shares, compared to its average volume of 1,938,655. The firm has a market cap of $14.40 billion, a P/E ratio of 74.11, a P/E/G ratio of 3.92 and a beta of 0.92. Fortinet Inc has a 1-year low of $51.97 and a 1-year high of $94.37.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, February 6th. The software maker reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.11. The business had revenue of $507.00 million during the quarter, compared to analyst estimates of $496.33 million. Fortinet had a net margin of 18.44% and a return on equity of 22.72%. Fortinet’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 earnings per share. Equities analysts anticipate that Fortinet Inc will post 1.25 earnings per share for the current fiscal year.

In other Fortinet news, CFO Keith Jensen sold 11,251 shares of Fortinet stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $86.95, for a total transaction of $978,274.45. Following the completion of the sale, the chief financial officer now owns 10,669 shares of the company’s stock, valued at approximately $927,669.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael Xie sold 60,000 shares of Fortinet stock in a transaction on Monday, March 4th. The stock was sold at an average price of $84.06, for a total transaction of $5,043,600.00. Following the sale, the vice president now directly owns 6,444,644 shares of the company’s stock, valued at approximately $541,736,774.64. The disclosure for this sale can be found here. Insiders have sold a total of 197,127 shares of company stock valued at $16,334,589 in the last ninety days. Company insiders own 17.70% of the company’s stock.

FTNT has been the subject of several recent analyst reports. Goldman Sachs Group lowered shares of Fortinet from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $95.00 to $59.00 in a report on Friday, January 4th. Oppenheimer dropped their price objective on shares of Fortinet from $97.00 to $88.00 in a report on Monday, January 7th. Zacks Investment Research lowered shares of Fortinet from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. BMO Capital Markets lowered shares of Fortinet from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $90.00 to $78.00 in a report on Tuesday, January 22nd. They noted that the move was a valuation call. Finally, OTR Global lowered shares of Fortinet to a “positive” rating in a report on Friday, January 18th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $80.86.

TRADEMARK VIOLATION WARNING: This piece was reported by Ticker Report and is the property of of Ticker Report. If you are accessing this piece on another site, it was copied illegally and republished in violation of United States and international copyright and trademark law. The original version of this piece can be accessed at https://www.tickerreport.com/banking-finance/4223939/l-s-advisors-inc-has-1-million-holdings-in-fortinet-inc-ftnt.html.

About Fortinet

Fortinet, Inc provides broad, automated, and integrated cybersecurity solutions worldwide. It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, Web filtering, anti-spam, and WAN acceleration; and FortiSandbox technology that delivers proactive detection and mitigation services; and FortiSIEM family of products, which offers a cloud-ready security information and event management solution for enterprises and service providers.

See Also: What impact do institutional investors have on markets?

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).

Institutional Ownership by Quarter for Fortinet (NASDAQ:FTNT)

Receive News & Ratings for Fortinet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortinet and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Haymaker Acquisition  Coverage Initiated at Jefferies Financial Group
Haymaker Acquisition Coverage Initiated at Jefferies Financial Group
Tilly’s  Given a $18.00 Price Target at B. Riley
Tilly’s Given a $18.00 Price Target at B. Riley
Analyzing MoSys  and Ameri
Analyzing MoSys and Ameri
Zacks: Analysts Expect Lipocine Inc  to Announce -$0.22 EPS
Zacks: Analysts Expect Lipocine Inc to Announce -$0.22 EPS
Baidu  Price Target Lowered to $160.00 at Barclays
Baidu Price Target Lowered to $160.00 at Barclays
EBOS Group  Reaches New 12-Month High at $21.50
EBOS Group Reaches New 12-Month High at $21.50


© 2006-2019 Ticker Report