Fortinet Inc (FTNT) : Penserra Capital Management reduced its stake in Fortinet Inc by 12.69% during the most recent quarter end. The investment management company now holds a total of 869,002 shares of Fortinet Inc which is valued at $28,546,716 after selling 126,250 shares in Fortinet Inc , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Fortinet Inc makes up approximately 3.70% of Penserra Capital Management’s portfolio.
Other Hedge Funds, Including , Sandy Spring Bank reduced its stake in FTNT by selling 500 shares or 18.52% in the most recent quarter. The Hedge Fund company now holds 2,200 shares of FTNT which is valued at $73,392. Fortinet Inc makes up approx 0.01% of Sandy Spring Bank’s portfolio.Princeton Alpha Management Lp boosted its stake in FTNT in the latest quarter, The investment management firm added 9,034 additional shares and now holds a total of 30,142 shares of Fortinet Inc which is valued at $1,008,551. Fortinet Inc makes up approx 0.17% of Princeton Alpha Management Lp’s portfolio.Stephens Inc Ar boosted its stake in FTNT in the latest quarter, The investment management firm added 7 additional shares and now holds a total of 20,727 shares of Fortinet Inc which is valued at $693,525. Fortinet Inc makes up approx 0.03% of Stephens Inc Ar’s portfolio. Morgens Waterfall Vintiadis Co Inc sold out all of its stake in FTNT during the most recent quarter. The investment firm sold 68,000 shares of FTNT which is valued $2,431,680.
Fortinet Inc closed down -0.4 points or -1.15% at $34.46 with 20,59,417 shares getting traded on Wednesday. Post opening the session at $34.73, the shares hit an intraday low of $34.3 and an intraday high of $35.02 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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.
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.