Fortinet, Inc. $FTNT Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd decreased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 51.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 549,465 shares of the software maker’s stock after selling 584,282 shares during the quarter. AustralianSuper Pty Ltd owned approximately 0.07% of Fortinet worth $46,199,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after buying an additional 221 shares during the last quarter. Bison Wealth LLC purchased a new position in shares of Fortinet during the fourth quarter worth about $585,000. GC Wealth Management RIA LLC increased its position in shares of Fortinet by 130.1% during the second quarter. GC Wealth Management RIA LLC now owns 6,615 shares of the software maker’s stock worth $699,000 after purchasing an additional 3,740 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Fortinet by 0.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 122,246 shares of the software maker’s stock valued at $12,924,000 after purchasing an additional 599 shares during the last quarter. Finally, Raleigh Capital Management Inc. boosted its position in shares of Fortinet by 27.3% in the 2nd quarter. Raleigh Capital Management Inc. now owns 2,268 shares of the software maker’s stock valued at $240,000 after purchasing an additional 486 shares during the period. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FTNT has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Fortinet in a research note on Monday, December 29th. Robert W. Baird cut their target price on shares of Fortinet from $90.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Barclays decreased their price target on shares of Fortinet from $90.00 to $88.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Jefferies Financial Group dropped their price objective on shares of Fortinet from $85.00 to $80.00 and set a “hold” rating on the stock in a research note on Thursday, November 6th. Finally, Royal Bank Of Canada reduced their target price on shares of Fortinet from $95.00 to $85.00 and set a “sector perform” rating for the company in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $90.04.

Fortinet Stock Up 0.5%

Shares of NASDAQ:FTNT opened at $82.08 on Thursday. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $114.82. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. The firm’s 50-day simple moving average is $80.24 and its 200-day simple moving average is $83.90. The company has a market cap of $61.04 billion, a price-to-earnings ratio of 33.78, a PEG ratio of 2.85 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 EPS 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 the consensus estimate of $1.70 billion. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the firm earned $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. As a group, equities research analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Insiders Place Their Bets

In other Fortinet news, 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 sale, the vice president directly owned 10,492,018 shares in the company, valued at approximately $907,874,317.54. The trade was a 0.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ken Xie sold 158,485 shares of the company’s 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 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 SEC filing for this sale provides additional information. 18.00% of the stock is currently owned by company insiders.

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.