Consilium Wealth Advisory LLC Makes New Investment in Fortinet, Inc. (NASDAQ:FTNT)

Consilium Wealth Advisory LLC purchased a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 5,435 shares of the software maker’s stock, valued at approximately $523,000.

Other large investors also recently bought and sold shares of the company. SJS Investment Consulting Inc. raised its stake in Fortinet by 703.1% during the first quarter. SJS Investment Consulting Inc. now owns 257 shares of the software maker’s stock worth $25,000 after purchasing an additional 225 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Fortinet in the 4th quarter valued at $27,000. Oarsman Capital Inc. raised its stake in shares of Fortinet by 188.9% in the 4th quarter. Oarsman Capital Inc. now owns 416 shares of the software maker’s stock valued at $39,000 after acquiring an additional 272 shares during the period. Graney & King LLC purchased a new position in shares of Fortinet in the 4th quarter valued at $43,000. Finally, Banque Transatlantique SA purchased a new position in shares of Fortinet in the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Activity

In other Fortinet news, VP Michael Xie sold 3,546 shares of the stock in a transaction 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 now directly owns 11,000,068 shares of the company’s stock, valued at $1,167,217,215.48. This trade represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William H. Neukom bought 335 shares of the company’s stock in a transaction on Friday, June 6th. The stock was bought at an average cost of $104.22 per share, for a total transaction of $34,913.70. Following the completion of the transaction, the director now directly owns 301,471 shares of the company’s stock, valued at $31,419,307.62. This trade represents a 0.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 17.20% of the company’s stock.

Fortinet Price Performance

Shares of FTNT stock opened at $101.95 on Tuesday. The firm has a market cap of $78.03 billion, a P/E ratio of 45.11, a P/E/G ratio of 4.19 and a beta of 1.06. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.47 and a quick ratio of 1.39. Fortinet, Inc. has a 1-year low of $54.57 and a 1-year high of $114.82. The firm has a fifty day moving average of $101.66 and a two-hundred day moving average of $100.19.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, May 7th. The software maker reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. Fortinet had a net margin of 29.30% and a return on equity of 256.53%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the business earned $0.43 EPS. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, research analysts anticipate that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FTNT has been the topic of a number of research reports. Stephens initiated coverage on shares of Fortinet in a research note on Tuesday, April 1st. They issued an “equal weight” rating and a $108.00 target price on the stock. Cantor Fitzgerald cut their target price on shares of Fortinet from $115.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. BMO Capital Markets cut their target price 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. Scotiabank cut their target price on shares of Fortinet from $135.00 to $115.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 8th. Finally, Wells Fargo & Company cut their target price on shares of Fortinet from $105.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, twenty have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average 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.