Today, Mason Street Advisors LLC Invests $2,102,000 in Fortinet Inc. (FTNT)

Today, Mason Street Advisors LLC Invests $2,102,000 in Fortinet Inc. (FTNT)

Mason Street Advisors LLC acquired a new stake in Fortinet Inc. (NASDAQ:FTNT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 66,545 shares of the company’s stock, valued at approximately $2,102,000.

A number of other large investors have also bought and sold shares of the company. AMP Capital Investors Ltd increased its position in shares of Fortinet by 86.3% in the first quarter. AMP Capital Investors Ltd now owns 116,465 shares of the company’s stock valued at $3,426,000 after buying an additional 53,958 shares in the last quarter. Legal & General Group Plc increased its position in shares of Fortinet by 37.7% in the first quarter. Legal & General Group Plc now owns 74,603 shares of the company’s stock valued at $2,285,000 after buying an additional 20,443 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Fortinet during the first quarter valued at about $935,000. A.R.T. Advisors LLC purchased a new position in shares of Fortinet during the first quarter valued at about $699,000. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of Fortinet by 2.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 138,648 shares of the company’s stock valued at $4,247,000 after buying an additional 3,261 shares in the last quarter. 72.78% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Inc. (NASDAQ:FTNT) traded down 0.88% on Friday, reaching $30.57. 701,641 shares of the company traded hands. Fortinet Inc. has a 1-year low of $23.16 and a 1-year high of $37.48. The stock has a 50 day moving average of $31.53 and a 200-day moving average of $33.71. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 1175.77 and a beta of 1.31.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.15 by $0.03. The company earned $316.60 million during the quarter, compared to analyst estimates of $314.33 million. Fortinet had a negative net margin of 0.09% and a positive return on equity of 1.36%. The firm’s revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 EPS. On average, equities analysts anticipate that Fortinet Inc. will post $0.64 EPS for the current year.

Several research analysts have recently issued reports on the stock. Barclays PLC dropped their target price on shares of Fortinet from $42.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 12th. Robert W. Baird set a $34.00 target price on shares of Fortinet and gave the stock a “hold” rating in a research note on Wednesday, October 12th. Dougherty & Co dropped their target price on shares of Fortinet from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, October 12th. Royal Bank Of Canada decreased their price objective on shares of Fortinet from $37.00 to $30.00 and set a “sector perform” rating for the company in a report on Wednesday, October 12th. Finally, JMP Securities decreased their price objective on shares of Fortinet from $40.00 to $34.00 and set a “market outperform” rating for the company in a report on Wednesday, October 12th. Twelve equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $36.04.

In other Fortinet news, Director Christopher B. Paisley sold 6,000 shares of Fortinet stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $31.86, for a total transaction of $191,160.00. Following the sale, the director now owns 66,625 shares of the company’s stock, valued at approximately $2,122,672.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Keith Jensen sold 1,300 shares of Fortinet stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $31.34, for a total transaction of $40,742.00. Following the sale, the insider now directly owns 1,224 shares in the company, valued at approximately $38,360.16. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by corporate insiders.

About Fortinet

Fortinet, Inc provides cyber security solutions to enterprises, service providers and government organizations across the world. The Company’s flagship 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.

Related posts

Leave a Comment