Generali Asset Management SPA SGR Sells 13,059 Shares of Fortinet, Inc. $FTNT

Generali Asset Management SPA SGR reduced its position in Fortinet, Inc. (NASDAQ:FTNT) by 34.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,542 shares of the software maker’s stock after selling 13,059 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Fortinet were worth $2,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after acquiring an additional 221 shares during the last quarter. Bison Wealth LLC bought a new position in Fortinet during the fourth quarter worth about $585,000. Advisors Asset Management Inc. increased its stake in shares of Fortinet by 65.3% in the first quarter. Advisors Asset Management Inc. now owns 40,312 shares of the software maker’s stock worth $3,880,000 after purchasing an additional 15,932 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Fortinet by 3.5% in the first quarter. Alliancebernstein L.P. now owns 1,023,919 shares of the software maker’s stock worth $98,562,000 after purchasing an additional 34,202 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its position in shares of Fortinet by 175.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 789 shares of the software maker’s stock valued at $76,000 after purchasing an additional 503 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling

In other news, VP Michael Xie sold 3,546 shares of the firm’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 sale, the vice president owned 10,492,018 shares in the company, valued at approximately $907,874,317.54. This trade represents a 0.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction 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 $4,445,911,452.29. This represents a 0.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 17.20% of the company’s stock.

Fortinet Price Performance

NASDAQ:FTNT opened at $77.88 on Friday. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $114.82. The stock has a fifty day moving average of $82.02 and a 200 day moving average of $87.05. 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 has a market capitalization of $57.92 billion, a price-to-earnings ratio of 32.05, a P/E/G ratio of 2.72 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last announced 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. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company earned $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 expect that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Analyst Ratings Changes

FTNT has been the subject of several analyst reports. UBS Group cut their price objective on shares of Fortinet from $90.00 to $80.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Royal Bank Of Canada cut their price target on Fortinet from $95.00 to $85.00 and set a “sector perform” rating for the company in a report on Thursday, November 6th. Robert W. Baird reduced their price target on Fortinet from $90.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Rosenblatt Securities reissued a “neutral” rating and set a $85.00 price objective on shares of Fortinet in a report on Thursday, November 6th. Finally, Morgan Stanley restated an “underweight” rating and issued a $70.00 target price (up previously from $66.00) on shares of Fortinet in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-seven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company 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.