Carnick & Kubik Group LLC decreased its stake in shares of Fortinet Inc (NASDAQ:FTNT) by 7.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 54,698 shares of the software maker’s stock after selling 4,684 shares during the quarter. Carnick & Kubik Group LLC’s holdings in Fortinet were worth $4,593,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in FTNT. Vanguard Group Inc grew its position in Fortinet by 2.9% in the 3rd quarter. Vanguard Group Inc now owns 13,884,993 shares of the software maker’s stock valued at $1,281,168,000 after purchasing an additional 394,636 shares during the period. Oregon Public Employees Retirement Fund grew its position in Fortinet by 3,990.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,284,855 shares of the software maker’s stock valued at $47,000 after purchasing an additional 3,204,555 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd grew its position in Fortinet by 45.5% in the 4th quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,599,009 shares of the software maker’s stock valued at $183,048,000 after purchasing an additional 812,206 shares during the period. Geode Capital Management LLC grew its position in Fortinet by 50.3% in the 4th quarter. Geode Capital Management LLC now owns 2,351,384 shares of the software maker’s stock valued at $165,377,000 after purchasing an additional 787,230 shares during the period. Finally, AQR Capital Management LLC grew its position in Fortinet by 51.8% in the 3rd quarter. AQR Capital Management LLC now owns 2,263,905 shares of the software maker’s stock valued at $208,891,000 after purchasing an additional 772,344 shares during the period. 74.61% of the stock is owned by institutional investors.
In other news, VP John Whittle sold 1,250 shares of Fortinet stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $92.44, for a total transaction of $115,550.00. Following the sale, the vice president now directly owns 10,559 shares in the company, valued at approximately $976,073.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $5,043,600.00. Following the sale, the vice president now owns 6,444,644 shares in the company, valued at $541,736,774.64. The disclosure for this sale can be found here. Insiders have sold a total of 200,190 shares of company stock worth $16,650,545 over the last quarter. Company insiders own 17.70% of the company’s stock.
NASDAQ FTNT opened at $85.96 on Friday. The firm has a market cap of $14.67 billion, a PE ratio of 71.63, a price-to-earnings-growth ratio of 4.41 and a beta of 0.93. Fortinet Inc has a one year low of $53.40 and a one year high of $96.96.
Fortinet (NASDAQ:FTNT) last released its earnings results on Thursday, May 2nd. The software maker reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.26. The company had revenue of $472.60 million for the quarter, compared to analysts’ expectations of $471.90 million. Fortinet had a return on equity of 23.56% and a net margin of 18.64%. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 EPS. On average, research analysts predict that Fortinet Inc will post 1.26 earnings per share for the current fiscal year.
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Fortinet, Inc provides broad, integrated, and automated 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 wide area network acceleration; FortiSandbox technology that delivers proactive detection and mitigation services; and FortiSIEM family of software solutions, which offers a cloud-ready security information and event management solutions.
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