Boston Trust Walden Corp Takes $30.54 Million Position in Fortinet, Inc. $FTNT

Boston Trust Walden Corp purchased a new position in Fortinet, Inc. (NASDAQ:FTNT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 363,180 shares of the software maker’s stock, valued at approximately $30,536,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased 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 worth $137,800,000 after purchasing an additional 82,937 shares in the last quarter. Warther Private Wealth LLC boosted its holdings in shares of Fortinet by 39.7% in the second quarter. Warther Private Wealth LLC now owns 182,160 shares of the software maker’s stock worth $19,258,000 after buying an additional 51,750 shares during the period. Cooper Financial Group acquired a new position in shares of Fortinet in the second quarter worth about $2,653,000. Czech National Bank increased its position 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 acquiring an additional 10,135 shares in the last quarter. Finally, Motley Fool Asset Management LLC raised its holdings in shares of Fortinet by 15.0% during the second quarter. Motley Fool Asset Management LLC now owns 50,464 shares of the software maker’s stock valued at $5,335,000 after acquiring an additional 6,566 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Buying and Selling at Fortinet

In other news, CEO Ken Xie sold 158,485 shares of the firm’s stock in a transaction dated 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 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 trade represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $306,835.38. Following the transaction, the vice president owned 10,492,018 shares of the company’s stock, valued at approximately $907,874,317.54. This trade represents a 0.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 18.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. UBS Group lowered their price objective on shares of Fortinet from $90.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Daiwa America downgraded Fortinet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Barclays reduced their price objective on Fortinet from $90.00 to $88.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Daiwa Capital Markets lowered Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price objective for the company. in a research report on Wednesday, November 12th. Finally, Royal Bank Of Canada dropped their target price on Fortinet from $95.00 to $85.00 and set a “sector perform” rating on the stock in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued 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 stock has an average rating of “Hold” and an average price target of $90.11.

Fortinet Stock Performance

Shares of FTNT stock opened at $80.82 on Tuesday. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $114.82. The stock’s 50-day moving average is $82.48 and its two-hundred day moving average is $87.58. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 0.94. The firm has a market cap of $60.10 billion, a P/E ratio of 33.26, a PEG ratio of 3.04 and a beta of 1.10.

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