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Why This Investor Just Added These 2 Stocks To His Portfolio

July 23, 2021 2:18 pm
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Why This Investor Just Added These 2 Stocks To His Portfolio

Degas Wright, CEO of Decatur Capital Management, said he recently bought Autodesk Inc (NASDAQ:ADSK) and Fortinet Inc (NASDAQ:FTNT), Friday on CNBC's "Fast Money Halftime Report."

Autodesk has developed a design tool to reduce carbon emissions, Wright said. The company is steadily increasing revenue and expanding its margins, he added.

Wright told CNBC that as 5G continues to become more prevalent, the risk of being hacked increases. Fortinet provides a cybersecurity solution for protecting businesses and their data, he said.

Fortinet deploys a subscription-based business model, Wright noted. The company has profit margins of 80% and a free cash flow yield of 3%, he said: "we really like Fortinet."

Related Link: Analyst Ratings For Fortinet

ADSK, FTNT Price Action: At last check Friday, Autodesk was up 1.36% at $312.70 and Fortinet was up 1.35% at $274.40.

Photo by Pete Linforth from Pixabay.

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