Halpern Financial Inc. Has $78,000 Stock Holdings in Fortinet, Inc. (NASDAQ:FTNT)

Halpern Financial Inc. decreased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 23.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,000 shares of the software maker’s stock after selling 300 shares during the period. Halpern Financial Inc.’s holdings in Fortinet were worth $78,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in FTNT. Vima LLC bought a new stake in Fortinet in the fourth quarter valued at about $25,000. Winthrop Capital Management LLC acquired a new position in shares of Fortinet during the 1st quarter worth about $25,000. Rise Advisors LLC increased its stake in shares of Fortinet by 135.6% in the 1st quarter. Rise Advisors LLC now owns 377 shares of the software maker’s stock valued at $26,000 after acquiring an additional 217 shares during the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of Fortinet in the 4th quarter valued at approximately $32,000. Finally, Oakworth Capital Inc. bought a new position in Fortinet during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Performance

NASDAQ FTNT traded up $1.03 on Friday, reaching $78.01. The stock had a trading volume of 3,144,257 shares, compared to its average volume of 5,615,151. The company has a debt-to-equity ratio of 3.45, a current ratio of 1.32 and a quick ratio of 1.22. The company has a market cap of $59.59 billion, a P/E ratio of 50.99, a price-to-earnings-growth ratio of 2.77 and a beta of 1.00. The firm has a fifty day moving average of $72.69 and a two-hundred day moving average of $65.75. Fortinet, Inc. has a 1-year low of $44.12 and a 1-year high of $78.50.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Tuesday, August 6th. The software maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.41 by $0.16. Fortinet had a net margin of 23.71% and a negative return on equity of 2,160.10%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company posted $0.31 earnings per share. Fortinet’s revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts anticipate that Fortinet, Inc. will post 1.72 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Barclays cut their target price on shares of Fortinet from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Morgan Stanley dropped their price objective on Fortinet from $73.00 to $69.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Rosenblatt Securities decreased their target price on Fortinet from $85.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Piper Sandler raised Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company boosted their price objective on Fortinet from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Twenty-three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $71.57.

Insider Transactions at Fortinet

In related news, VP Michael Xie sold 24,712 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $56.11, for a total value of $1,386,590.32. Following the completion of the sale, the vice president now directly owns 10,847,018 shares in the company, valued at approximately $608,626,179.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Fortinet news, VP Michael Xie sold 24,712 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $56.11, for a total transaction of $1,386,590.32. Following the sale, the vice president now directly owns 10,847,018 shares in the company, valued at $608,626,179.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ken Xie sold 24,267 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $60.01, for a total transaction of $1,456,262.67. Following the transaction, the chief executive officer now owns 48,777,294 shares of the company’s stock, valued at approximately $2,927,125,412.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,210 shares of company stock valued at $6,337,801. 18.00% of the stock is currently owned by company insiders.

Fortinet Company 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.