Fortinet, Inc. $FTNT Shares Sold by CW Advisors LLC

CW Advisors LLC cut its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 6.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,170 shares of the software maker’s stock after selling 6,001 shares during the quarter. CW Advisors LLC’s holdings in Fortinet were worth $8,687,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Fortinet during the 2nd quarter worth approximately $40,000. Groupe la Francaise lifted its position in Fortinet by 15.2% during the second quarter. Groupe la Francaise now owns 63,100 shares of the software maker’s stock worth $6,641,000 after buying an additional 8,349 shares in the last quarter. Westerkirk Capital Inc. acquired a new position in Fortinet during the second quarter worth $3,912,000. Edgestream Partners L.P. grew its holdings in Fortinet by 24.7% in the 2nd quarter. Edgestream Partners L.P. now owns 64,577 shares of the software maker’s stock valued at $6,827,000 after buying an additional 12,771 shares in the last quarter. Finally, Shelton Capital Management increased its stake in shares of Fortinet by 52.6% in the 2nd quarter. Shelton Capital Management now owns 261,945 shares of the software maker’s stock worth $27,693,000 after acquiring an additional 90,340 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Wall Street Analysts Forecast Growth

FTNT has been the topic of several recent research reports. Piper Sandler lowered their price target on shares of Fortinet from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. UBS Group reduced their target price on shares of Fortinet from $90.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Hsbc Global Res cut shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Evercore ISI cut their price target on shares of Fortinet from $105.00 to $78.00 and set an “in-line” rating for the company in a report on Friday, August 8th. Finally, Cowen lowered shares of Fortinet from a “buy” rating to a “hold” rating in a research report 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $90.37.

Fortinet Stock Up 2.9%

Shares of FTNT opened at $85.18 on Friday. The stock has a market capitalization of $63.34 billion, a PE ratio of 35.05, a P/E/G ratio of 3.13 and a beta of 1.10. Fortinet, Inc. has a 1 year low of $70.12 and a 1 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 company’s 50-day simple moving average is $83.45 and its 200-day simple moving average is $90.30.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $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. Analysts forecast that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortinet

In related news, CEO Ken Xie sold 158,485 shares of Fortinet stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 51,391,879 shares in the company, valued at approximately $4,445,911,452.29. This trade represents a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael Xie sold 3,546 shares of the stock in a transaction dated 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 directly owned 10,492,018 shares in the company, valued at $907,874,317.54. This represents a 0.03% decrease in their position. The disclosure for this sale is available in the SEC filing. 17.20% of the stock is currently owned by company insiders.

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.