China Universal Asset Management Co. Ltd. Has $3 Million Stake in Fortinet, Inc. $FTNT

China Universal Asset Management Co. Ltd. trimmed its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 22.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,378 shares of the software maker’s stock after selling 8,015 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Fortinet were worth $3,000,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LSV Asset Management bought a new stake in shares of Fortinet during the 2nd quarter valued at $25,000. Saudi Central Bank acquired a new stake in shares of Fortinet during the first quarter worth $25,000. Caitong International Asset Management Co. Ltd increased its holdings in Fortinet by 2,184.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 297 shares of the software maker’s stock valued at $29,000 after purchasing an additional 284 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. increased its holdings in Fortinet by 41.4% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 355 shares of the software maker’s stock valued at $38,000 after purchasing an additional 104 shares during the last quarter. Finally, Quaker Wealth Management LLC lifted its stake in Fortinet by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock valued at $38,000 after buying an additional 726 shares during the period. 83.71% of the stock is owned by institutional investors.

Fortinet Stock Performance

Shares of FTNT opened at $82.22 on Friday. The firm has a market cap of $61.14 billion, a P/E ratio of 33.84, a PEG ratio of 3.06 and a beta of 1.10. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $114.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.94 and a current ratio of 1.03. The firm’s 50 day moving average price is $83.24 and its two-hundred day moving average price is $89.35.

Fortinet (NASDAQ:FTNT) last issued 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. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. On average, analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FTNT shares. Cantor Fitzgerald restated a “neutral” rating and set a $87.00 target price on shares of Fortinet in a research report on Monday, November 24th. Rosenblatt Securities restated a “neutral” rating and set a $85.00 price objective on shares of Fortinet in a report on Thursday, November 6th. Hsbc Global Res downgraded shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. cut their target price on shares of Fortinet from $87.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Finally, Mizuho decreased their price target on shares of Fortinet from $75.00 to $72.00 and set an “underperform” rating for the company in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Fortinet has a consensus rating of “Hold” and an average price target of $90.37.

Insider Activity

In other Fortinet news, CEO Ken Xie sold 158,485 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $86.51, for a total transaction of $13,710,537.35. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Michael Xie sold 3,546 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $86.53, for a total transaction of $306,835.38. Following the transaction, the vice president directly owned 10,492,018 shares of the company’s stock, valued at $907,874,317.54. This represents a 0.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is owned by corporate insiders.

About Fortinet

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.