SG Americas Securities LLC Grows Stock Holdings in Fortinet, Inc. $FTNT

SG Americas Securities LLC lifted its position in Fortinet, Inc. (NASDAQ:FTNT) by 519.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 160,711 shares of the software maker’s stock after buying an additional 134,763 shares during the quarter. SG Americas Securities LLC’s holdings in Fortinet were worth $13,513,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Fortinet by 6.8% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,305,352 shares of the software maker’s stock valued at $137,800,000 after buying an additional 82,937 shares during the last quarter. Warther Private Wealth LLC boosted its position in Fortinet by 39.7% in the second quarter. Warther Private Wealth LLC now owns 182,160 shares of the software maker’s stock valued at $19,258,000 after buying an additional 51,750 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Fortinet by 4.7% in the third quarter. Asset Management One Co. Ltd. now owns 402,278 shares of the software maker’s stock valued at $33,824,000 after buying an additional 17,892 shares during the last quarter. Cooper Financial Group bought a new position in shares of Fortinet in the second quarter worth about $2,653,000. Finally, Czech National Bank raised its position in Fortinet by 6.5% in the 3rd quarter. Czech National Bank now owns 165,423 shares of the software maker’s stock worth $13,909,000 after purchasing an additional 10,135 shares during the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on FTNT. Royal Bank Of Canada decreased their price objective on Fortinet from $95.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 6th. Citigroup cut Fortinet from a “neutral” rating to a “mixed” rating in a report on Monday, October 20th. Rosenblatt Securities reiterated a “neutral” rating and issued a $85.00 price objective on shares of Fortinet in a research report on Thursday, November 6th. Mizuho cut their target price on shares of Fortinet from $75.00 to $72.00 and set an “underperform” rating on the stock in a research report on Thursday, November 6th. Finally, Barclays lowered their price target on shares of Fortinet from $90.00 to $88.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-seven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $90.30.

Insider Activity

In related news, 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 transaction of $13,710,537.35. Following the completion of the sale, the chief executive officer directly owned 51,391,879 shares of the company’s stock, valued at approximately $4,445,911,452.29. This represents a 0.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 sale, the vice president owned 10,492,018 shares in the company, valued at $907,874,317.54. This trade represents a 0.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is owned by corporate insiders.

Fortinet Stock Down 2.5%

Shares of NASDAQ FTNT opened at $78.05 on Friday. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week 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 stock has a market cap of $58.04 billion, a P/E ratio of 32.12, a P/E/G ratio of 2.80 and a beta of 1.07. The firm has a 50 day moving average price of $81.51 and a 200 day moving average price of $86.53.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the firm posted $0.63 earnings per share. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. Analysts expect that Fortinet, Inc. will post 2.09 EPS for the current year.

Fortinet Profile

Fortinet, Inc (NASDAQ: FTNT) is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co‑founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia‑Pacific.

Fortinet’s product portfolio centers on network security appliances and software, with its FortiGate next‑generation firewalls and the FortiOS operating system forming a core platform.