Fortinet Inc (FTNT) : Vigilant Capital Management has sold out all of its stake in Fortinet Inc during the most recent quarter, according to the disclosure filed by the company on Oct 14, 2016 with the SEC. The investment management company has sold out 175 shares of Fortinet Inc which is valued at $5,427.
Other Hedge Funds, Including , Reliance Trust Co Of Delaware boosted its stake in FTNT in the latest quarter, The investment management firm added 13,822 additional shares and now holds a total of 23,572 shares of Fortinet Inc which is valued at $730,968. Fortinet Inc makes up approx 0.07% of Reliance Trust Co Of Delaware’s portfolio.Capstone Asset Management Co reduced its stake in FTNT by selling 390 shares or 2.23% in the most recent quarter. The Hedge Fund company now holds 17,082 shares of FTNT which is valued at $582,325. Fortinet Inc makes up approx 0.02% of Capstone Asset Management Co’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in FTNT in the latest quarter, The investment management firm added 606 additional shares and now holds a total of 50,730 shares of Fortinet Inc which is valued at $1,775,043. Fortinet Inc makes up approx 0.04% of Oregon Public Employees Retirement Fund’s portfolio.
Fortinet Inc closed down -0.18 points or -0.58% at $31.01 with 39,66,005 shares getting traded on Friday. Post opening the session at $31.47, the shares hit an intraday low of $30.54 and an intraday high of $31.56 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
On the company’s financial health, Fortinet Inc reported $0.14 EPS for the quarter, based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus estimate of $0.14. The company had revenue of $311.40 million for the quarter, compared to analysts expectations of $304.53 million. The company’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS.
Many Wall Street Analysts have commented on Fortinet Inc. Shares were Reiterated by RBC Capital Mkts on Oct 12, 2016 to “Sector Perform” and Lowered the Price Target to $ 30 from a previous price target of $37 .Shares were Reiterated by Wunderlich on Oct 12, 2016 to “Buy” and Lowered the Price Target to $ 42 from a previous price target of $45 .Company shares were Resumed by Wunderlich on Sep 13, 2016 to “Buy”, Firm has raised the Price Target to $ 45 from a previous price target of $42 .
Fortinet Inc. provides cyber security solutions to enterprise service providers and government organizations across the world. The Companys network security solution consists of FortiGate physical and virtual appliance products that provide an array of integrated security and networking functions to protect data applications and users from network-and content-level security threats. The Companys FortiGate appliances may be deployed as Next Generation Firewalls (NGFW) Data Center Firewalls (DCFW) Unified Threat Management (UTM) systems Internal Network Firewall (INFW) Virtual Machine Firewalls or Cloud Firewalls. The FortiGate appliances range from the FortiGate-20 series for small businesses and branch offices to the FortiGate-5000 series for enterprises and service providers and are based on its technology platform. Its security services are based on intelligence gathered by its FortiGuard Labs team.