Palmer Knight Co Grows Stock Position in Fortinet, Inc. $FTNT

Palmer Knight Co increased its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 22.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,953 shares of the software maker’s stock after buying an additional 15,680 shares during the period. Fortinet comprises approximately 3.4% of Palmer Knight Co’s investment portfolio, making the stock its 19th biggest holding. Palmer Knight Co’s holdings in Fortinet were worth $7,143,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. LSV Asset Management purchased a new position in shares of Fortinet during the second quarter worth $25,000. Financial Consulate Inc. purchased a new stake in Fortinet in the 3rd quarter valued at $25,000. Steigerwald Gordon & Koch Inc. purchased a new stake in Fortinet in the third quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. raised its position 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 purchasing an additional 104 shares during the period. Finally, Quaker Wealth Management LLC increased its stake in Fortinet by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock worth $38,000 after buying an additional 726 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Stock Down 0.3%

Shares of FTNT stock opened at $81.26 on Monday. The firm has a fifty day moving average of $80.36 and a 200-day moving average of $83.44. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month 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 company has a market capitalization of $60.43 billion, a price-to-earnings ratio of 33.44, a P/E/G ratio of 2.82 and a beta of 1.06.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) 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 company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter last year, the company posted $0.63 EPS. Fortinet’s quarterly 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. As a group, equities research analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Rosenblatt upgraded FTNT to a Buy and raised its price target to $100 (from $85), a bullish endorsement that can support share gains. Read More.
• Positive Sentiment: TD Cowen upgraded FTNT to Buy (PT $100) and called the valuation reasonable after channel checks showed stability — an influential bank upgrade that likely boosted buying interest. Read More.
• Positive Sentiment: Fortinet announced a FortiCNAPP upgrade emphasizing tighter cloud security integration and investor-focused messaging on cloud risk management — product progress that supports the company’s platform story and competitive moat. Read More.
• Positive Sentiment: Sector lift: coverage of Fortinet’s upgrades has helped buoy cybersecurity peers (e.g., CrowdStrike), indicating the upgrade-driven sentiment is spilling across the group and can provide additional support to FTNT. Read More.
• Neutral Sentiment: Elevated investor interest/search activity around FTNT signals heightened attention and liquidity, which can amplify moves in either direction depending on news flow. Read More.
• Neutral Sentiment: Multiple pieces profile Fortinet’s unified cloud-risk platform and longer-term moat — constructive for medium-term growth expectations but not an immediate earnings catalyst. Read More.
• Negative Sentiment: Zacks preview warns Fortinet lacks the setup for a likely earnings beat next week — this raises downside risk into the print and helps explain intraday pullbacks despite the bullish headlines. Read More.
• Neutral Sentiment: Scheduled earnings coverage and media previews mean volatility is likely until results/guidance are released — traders should watch the upcoming report for guidance vs. consensus. Read More.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FTNT. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $87.00 target price on shares of Fortinet in a research report on Monday, November 24th. TD Cowen raised Fortinet from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Friday, January 23rd. Robert W. Baird dropped their price target on Fortinet from $90.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Daiwa Capital Markets lowered shares of Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price objective on the stock. in a research note on Wednesday, November 12th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $80.00 target price on shares of Fortinet in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-three have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $90.48.

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.