Fortinet, Inc. $FTNT Shares Sold by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB reduced its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 85.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,568 shares of the software maker’s stock after selling 15,320 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Fortinet were worth $216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Fortinet by 6.8% during the second 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 lifted its position in Fortinet by 39.7% during the 2nd quarter. Warther Private Wealth LLC now owns 182,160 shares of the software maker’s stock worth $19,258,000 after acquiring an additional 51,750 shares during the period. Asset Management One Co. Ltd. grew its stake in Fortinet by 4.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 402,278 shares of the software maker’s stock valued at $33,824,000 after purchasing an additional 17,892 shares during the last quarter. Cooper Financial Group acquired a new position in shares of Fortinet in the second quarter valued at about $2,653,000. Finally, Czech National Bank raised its stake in shares of Fortinet by 6.5% in the third 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 currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FTNT shares. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $75.00 target price (down previously from $85.00) on shares of Fortinet in a research report on Wednesday, December 17th. UBS Group decreased their price objective on shares of Fortinet from $90.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Robert W. Baird cut their price objective on shares of Fortinet from $90.00 to $86.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Royal Bank Of Canada reduced their target price on shares of Fortinet from $95.00 to $85.00 and set a “sector perform” rating for the company in a report on Thursday, November 6th. Finally, Daiwa Capital Markets lowered shares of Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price target on the stock. in a report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-seven have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and an average target price of $90.30.

Insider Buying and Selling

In other news, VP Michael Xie sold 3,546 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $86.53, for a total transaction of $306,835.38. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. 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 completion of the sale, the chief executive officer directly owned 51,391,879 shares in the company, valued at $4,445,911,452.29. This represents a 0.31% decrease in their position. The SEC filing for this sale provides additional information. 17.20% of the stock is owned by insiders.

Fortinet Stock Up 1.5%

FTNT stock opened at $79.22 on Friday. Fortinet, Inc. has a one year low of $70.12 and a one year 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 fifty day moving average is $81.37 and its 200 day moving average is $86.36. The firm has a market cap of $58.91 billion, a PE ratio of 32.60, a P/E/G ratio of 2.73 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last posted its earnings results 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 business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 EPS. 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, research analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current year.

Fortinet Company 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.