Universal Beteiligungs und Servicegesellschaft mbH Boosts Stock Position in Fortinet, Inc. $FTNT

Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Fortinet, Inc. (NASDAQ:FTNT) by 30.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,054,035 shares of the software maker’s stock after purchasing an additional 248,931 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Fortinet were worth $111,433,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Saudi Central Bank purchased a new stake in shares of Fortinet during the first quarter worth about $25,000. Clearstead Trust LLC acquired a new stake in Fortinet during the first quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd grew its stake in Fortinet by 2,184.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 297 shares of the software maker’s stock worth $29,000 after acquiring an additional 284 shares during the period. E Fund Management Hong Kong Co. Ltd. raised its holdings in Fortinet by 41.4% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 355 shares of the software maker’s stock valued at $38,000 after acquiring an additional 104 shares during the last quarter. Finally, Quaker Wealth Management LLC lifted its stake in shares of Fortinet by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock worth $38,000 after purchasing an additional 726 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on FTNT. Hsbc Global Res downgraded Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Fortinet in a research note on Wednesday, October 8th. Daiwa Capital Markets downgraded shares of Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price objective for the company. in a research note on Wednesday. Evercore ISI cut their price objective on shares of Fortinet from $105.00 to $78.00 and set an “in-line” rating on the stock in a report on Friday, August 8th. Finally, DZ Bank upgraded shares of Fortinet from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Fortinet has a consensus rating of “Hold” and an average price target of $91.62.

Fortinet Stock Up 1.6%

FTNT opened at $82.31 on Friday. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $114.82. The firm has a 50 day moving average price of $83.63 and a 200 day moving average price of $92.44. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.24 and a current ratio of 1.33. The company has a market cap of $61.21 billion, a PE ratio of 32.79, a price-to-earnings-growth ratio of 3.17 and a beta of 1.08.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.11. Fortinet had a net margin of 30.60% and a return on equity of 111.46%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. Fortinet’s revenue for the quarter was up 14.4% on a year-over-year basis. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS. Q4 2025 guidance at 0.730-0.750 EPS. Sell-side analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Insider Buying and Selling at Fortinet

In other news, CEO Ken Xie sold 158,485 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $86.51, for a total value of $13,710,537.35. Following the completion of the sale, the chief executive officer owned 51,391,879 shares of the company’s stock, valued at $4,445,911,452.29. This represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael Xie sold 3,546 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $86.53, for a total value of $306,835.38. Following the completion of the sale, the vice president owned 10,492,018 shares of the company’s stock, valued at approximately $907,874,317.54. This trade represents a 0.03% decrease in their position. The SEC filing for this sale provides additional information. 17.20% of the stock is currently owned by corporate insiders.

Fortinet Profile

Fortinet, Inc provides cybersecurity and convergence of networking and security solutions worldwide. It offers secure networking solutions focus on the convergence of networking and security; network firewall solutions that consist of FortiGate data centers, hyperscale, and distributed firewalls, as well as encrypted applications; wireless LAN solutions; and secure connectivity solutions, including FortiSwitch secure ethernet switches, FortiAP wireless local area network access points, FortiExtender 5G connectivity gateways, and other products.