From MarketBeat:

Linden Thomas Advisory Services LLC has reduced its holdings in Fortinet, Inc. by 59.9% in the third quarter. The fund owned 18,843 shares of the software maker’s stock after selling 28,092 shares during the period. Additionally, numerous other hedge funds and institutional investors have acquired new positions in Fortinet, Inc.

Twenty investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. As a result, Fortinet has an average rating of “Hold” and a consensus price target of $65.68.

Fortinet (NASDAQ:FTNT) opened at $58.53 on Friday, with the company’s fifty day simple moving average at $54.37 and its 200-day simple moving average at $61.87. Fortinet, Inc. has a 52-week low of $44.12 and a 52-week high of $81.24.

During the last quarter, insiders sold 79,683 shares of company stock valued at $4,216,360. Corporate insiders now own 17.54% of the company’s stock.

Fortinet, Inc provides cybersecurity and networking 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.



Read more: Fortinet, Inc. (NASDAQ:FTNT) Shares Sold by Linden Thomas Advisory Services LLC