Fortinet, Inc. $FTNT Position Reduced by TRUE Private Wealth Advisors

TRUE Private Wealth Advisors trimmed its position in Fortinet, Inc. (NASDAQ:FTNT) by 4.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,204 shares of the software maker’s stock after selling 700 shares during the period. TRUE Private Wealth Advisors’ holdings in Fortinet were worth $1,713,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FTNT. Brighton Jones LLC grew its holdings in Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after acquiring an additional 221 shares during the period. Bison Wealth LLC bought a new position in shares of Fortinet during the 4th quarter valued at about $585,000. Massachusetts Financial Services Co. MA grew its stake in shares of Fortinet by 15.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,775 shares of the software maker’s stock worth $363,000 after purchasing an additional 513 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Fortinet by 56.5% in the 1st quarter. Private Advisor Group LLC now owns 36,474 shares of the software maker’s stock worth $3,511,000 after purchasing an additional 13,162 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its stake in Fortinet by 8.9% during the first quarter. Kestra Private Wealth Services LLC now owns 15,199 shares of the software maker’s stock valued at $1,463,000 after purchasing an additional 1,246 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Stock Down 0.2%

NASDAQ:FTNT opened at $79.98 on Wednesday. The business’s fifty day moving average price is $83.67 and its 200 day moving average price is $92.02. The firm has a market capitalization of $59.48 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 3.17 and a beta of 1.08. The company has a current ratio of 1.33, a quick ratio of 1.24 and a debt-to-equity ratio of 0.24. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $114.82.

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

Insider Activity at Fortinet

In other Fortinet news, VP Michael Xie sold 3,546 shares of the stock in a transaction that occurred on 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 in the company, valued at $907,874,317.54. This represents a 0.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ken Xie sold 158,485 shares of Fortinet stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $86.51, for a total transaction of $13,710,537.35. Following the sale, the chief executive officer directly owned 51,391,879 shares of the company’s stock, valued at $4,445,911,452.29. This trade represents a 0.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 18.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FTNT has been the topic of several recent research reports. Royal Bank Of Canada decreased their price target on shares of Fortinet from $95.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 6th. Stifel Nicolaus reduced their price objective on Fortinet from $95.00 to $85.00 and set a “hold” rating for the company in a research note on Thursday, August 7th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $85.00 target price on shares of Fortinet in a research report on Thursday, November 6th. Wedbush decreased their price target on Fortinet from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Thursday, August 7th. Finally, Truist Financial cut their price objective on Fortinet from $125.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $91.22.

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.