Fortinet, Inc. $FTNT Shares Acquired by Shelton Capital Management

Shelton Capital Management raised its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 52.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 261,945 shares of the software maker’s stock after acquiring an additional 90,340 shares during the period. Fortinet accounts for 0.6% of Shelton Capital Management’s holdings, making the stock its 27th biggest holding. Shelton Capital Management’s holdings in Fortinet were worth $27,693,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Dover Advisors LLC raised its position in shares of Fortinet by 1.0% in the second quarter. Dover Advisors LLC now owns 9,451 shares of the software maker’s stock worth $999,000 after acquiring an additional 94 shares during the period. Balboa Wealth Partners increased its stake in shares of Fortinet by 4.3% in the 2nd quarter. Balboa Wealth Partners now owns 2,330 shares of the software maker’s stock valued at $246,000 after purchasing an additional 96 shares in the last quarter. Hemington Wealth Management raised its holdings in Fortinet by 13.2% in the 2nd quarter. Hemington Wealth Management now owns 851 shares of the software maker’s stock worth $89,000 after purchasing an additional 99 shares during the period. Peloton Wealth Strategists raised its holdings in Fortinet by 2.4% in the 1st quarter. Peloton Wealth Strategists now owns 4,330 shares of the software maker’s stock worth $417,000 after purchasing an additional 100 shares during the period. Finally, Trust Co. of Vermont boosted its position in Fortinet by 3.6% during the second quarter. Trust Co. of Vermont now owns 2,852 shares of the software maker’s stock worth $302,000 after purchasing an additional 100 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Fortinet Stock Up 0.7%

Shares of FTNT opened at $81.13 on Monday. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $114.82. The company has a quick ratio of 1.24, a current ratio of 1.33 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $83.53 and a two-hundred day simple moving average of $90.69. The company has a market capitalization of $60.33 billion, a PE ratio of 32.32, a price-to-earnings-growth ratio of 3.17 and a beta of 1.08.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. Fortinet had a net margin of 30.60% and a return on equity of 111.46%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Fortinet’s quarterly revenue 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. As a group, equities analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current year.

Wall Street Analyst Weigh In

FTNT has been the subject of a number of recent analyst reports. Evercore ISI cut their price objective on Fortinet from $105.00 to $78.00 and set an “in-line” rating for the company in a research report on Friday, August 8th. Morgan Stanley reissued an “underweight” rating and issued a $67.00 price target (down previously from $78.00) on shares of Fortinet in a research note on Tuesday, September 2nd. UBS Group decreased their price objective on shares of Fortinet from $90.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Barclays cut their target price on shares of Fortinet from $90.00 to $88.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Finally, Stifel Nicolaus cut 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. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $90.37.

Insider Transactions at Fortinet

In related news, VP Michael Xie sold 3,546 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $86.53, for a total value of $306,835.38. Following the transaction, the vice president owned 10,492,018 shares in the company, valued at $907,874,317.54. The trade was a 0.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ken Xie sold 158,485 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 51,391,879 shares of the company’s stock, valued at $4,445,911,452.29. The trade was a 0.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 17.20% of the company’s stock.

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.