Accurate Wealth Management LLC Decreases Stake in Fortinet, Inc. $FTNT

Accurate Wealth Management LLC lowered its stake in Fortinet, Inc. (NASDAQ:FTNT) by 48.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 10,359 shares of the software maker’s stock after selling 9,572 shares during the quarter. Accurate Wealth Management LLC’s holdings in Fortinet were worth $861,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in FTNT. Masso Torrence Wealth Management Inc. raised its holdings in Fortinet by 9.0% during the 3rd quarter. Masso Torrence Wealth Management Inc. now owns 6,332 shares of the software maker’s stock valued at $532,000 after buying an additional 522 shares during the last quarter. Calamos Wealth Management LLC purchased a new position in shares of Fortinet in the third quarter valued at about $429,000. Brendel Financial Advisors LLC raised its stake in shares of Fortinet by 18.7% during the third quarter. Brendel Financial Advisors LLC now owns 3,212 shares of the software maker’s stock valued at $270,000 after acquiring an additional 506 shares during the last quarter. Investment Partners Asset Management Inc. raised its stake in shares of Fortinet by 20.9% during the third quarter. Investment Partners Asset Management Inc. now owns 5,079 shares of the software maker’s stock valued at $427,000 after acquiring an additional 877 shares during the last quarter. Finally, Diversified Trust Co boosted its holdings in shares of Fortinet by 13.3% during the third quarter. Diversified Trust Co now owns 25,283 shares of the software maker’s stock worth $2,126,000 after purchasing an additional 2,959 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling

In related 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 value 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 represents a 0.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ken Xie sold 158,485 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 position. The disclosure for this sale is available in the SEC filing. 17.20% of the stock is currently owned by company insiders.

Fortinet Stock Performance

Shares of Fortinet stock opened at $79.41 on Friday. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $114.82. The firm has a market capitalization of $59.05 billion, a P/E ratio of 32.68, a P/E/G ratio of 2.96 and a beta of 1.07. The company has a current ratio of 1.03, a quick ratio of 0.94 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $82.17 and a two-hundred day simple moving average of $87.32.

Fortinet (NASDAQ:FTNT) last released its 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 firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the firm earned $0.63 EPS. The company’s 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. On average, equities analysts forecast that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Daiwa Capital Markets lowered Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price target for the company. in a research report on Wednesday, November 12th. Robert W. Baird decreased their target price on Fortinet from $90.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. TD Cowen dropped their price target on Fortinet from $105.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, November 6th. Jefferies Financial Group reduced their price objective on shares of Fortinet from $85.00 to $80.00 and set a “hold” rating on the stock in a research report on Thursday, November 6th. Finally, Citigroup lowered shares of Fortinet from a “neutral” rating to a “mixed” rating in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.11.

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.