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Greenwood Capital Associates LLC recently acquired a new stake in Fortinet, Inc. in the third quarter, purchasing 65,586 shares of the software maker’s stock valued at approximately $3,849,000. Other hedge funds also made changes to their positions in the company. The company’s shares traded up 0.1% during midday trading on Tuesday. They have a 50-day simple moving average of $54.24 and a two-hundred day simple moving average of $62.10. Shares of Fortinet, Inc. have a 52-week low of $44.12 and a 52-week high of $81.24. The firm has a 50-day simple moving average of $54.24 and a two-hundred day simple moving average of $62.10. The company has a market cap of $45.56 billion.

In its most recent earnings report, Fortinet, Inc. reported $0.35 EPS for the quarter, exceeding the consensus estimate of $0.30 by $0.05. The software maker had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.35 billion. As a group, equities analysts forecast that Fortinet, Inc. will post 1.29 EPS for the current year. Several brokerages have recently commented on FTNT, with twenty analysts giving the stock a hold rating and seventeen assigning a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $65.68.

In related news, Director William H. Neukom purchased 664 shares of Fortinet stock, while EVP Patrice Perche sold 7,535 shares of the company’s stock in a transaction dated Monday, October 23rd. 17.54% of the stock is owned by company insiders. Fortinet, Inc provides cybersecurity and networking solutions worldwide, offering 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. To stay updated on Fortinet and to find out which other hedge funds are holding FTNT, visit HoldingsChannel.com for the latest 13F filings and insider trades.



Read more: Greenwood Capital Associates LLC Acquires New Position in Fortinet, Inc. (NASDAQ:FTNT)