Czech National Bank Raises Stock Holdings in Fortinet, Inc. $FTNT

Czech National Bank boosted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,423 shares of the software maker’s stock after purchasing an additional 10,135 shares during the quarter. Czech National Bank’s holdings in Fortinet were worth $13,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Saudi Central Bank bought a new stake in shares of Fortinet in the 1st quarter valued at about $25,000. LSV Asset Management purchased a new stake in Fortinet during the second quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. boosted its stake 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 acquiring an additional 104 shares in the last quarter. Quaker Wealth Management LLC grew its holdings in Fortinet by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock worth $38,000 after purchasing an additional 726 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Fortinet in the second quarter worth $40,000. 83.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fortinet

In other news, CEO Ken Xie sold 158,485 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $86.51, for a total value of $13,710,537.35. Following the sale, the chief executive officer owned 51,391,879 shares in the company, valued at $4,445,911,452.29. This represents a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael Xie sold 3,546 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $86.53, for a total transaction of $306,835.38. Following the transaction, the vice president 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 disclosure for this sale is available in the SEC filing. 17.20% of the stock is owned by corporate insiders.

Fortinet Stock Up 0.5%

Shares of FTNT stock opened at $79.75 on Friday. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $114.82. The firm has a market capitalization of $59.31 billion, a PE ratio of 32.82, a P/E/G ratio of 2.96 and a beta of 1.10. 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’s 50-day simple moving average is $82.83 and its 200-day simple moving average is $88.83.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Royal Bank Of Canada lowered their price objective on Fortinet from $95.00 to $85.00 and set a “sector perform” rating for the company in a research report on Thursday, November 6th. Robert W. Baird decreased their price target on Fortinet from $90.00 to $86.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 price target on shares of Fortinet in a report on Monday, November 24th. Jefferies Financial Group cut their price objective on shares of Fortinet from $85.00 to $80.00 and set a “hold” rating on the stock in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $75.00 price objective (down from $85.00) on shares of Fortinet in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $90.11.

Fortinet Company 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.