Fortinet, Inc. $FTNT Shares Sold by MASTERINVEST Kapitalanlage GmbH

MASTERINVEST Kapitalanlage GmbH cut its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 43.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,614 shares of the software maker’s stock after selling 11,283 shares during the quarter. MASTERINVEST Kapitalanlage GmbH’s holdings in Fortinet were worth $1,229,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Fortinet by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 72,686,920 shares of the software maker’s stock worth $7,684,461,000 after acquiring an additional 1,024,516 shares during the period. State Street Corp increased its stake in shares of Fortinet by 3.0% during the second quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock worth $3,085,244,000 after acquiring an additional 862,468 shares during the period. Geode Capital Management LLC raised its holdings in Fortinet by 5.2% during the second quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock worth $1,783,091,000 after purchasing an additional 828,569 shares in the last quarter. Norges Bank acquired a new stake in Fortinet in the second quarter valued at about $1,640,900,000. Finally, Invesco Ltd. boosted its holdings in Fortinet by 7.9% in the 2nd quarter. Invesco Ltd. now owns 9,248,182 shares of the software maker’s stock valued at $977,718,000 after purchasing an additional 677,654 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FTNT shares. Mizuho cut their target price on Fortinet from $75.00 to $72.00 and set an “underperform” rating for the company in a research note on Thursday, November 6th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $75.00 price objective (down previously from $85.00) on shares of Fortinet in a research report on Wednesday, December 17th. Jefferies Financial Group reduced their target price on Fortinet from $85.00 to $80.00 and set a “hold” rating for the company in a report on Thursday, November 6th. Citigroup cut shares of Fortinet from a “neutral” rating to a “mixed” rating in a research note on Monday, October 20th. Finally, Hsbc Global Res downgraded shares of Fortinet from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. 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 issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $90.30.

Fortinet Trading Up 1.5%

Shares of FTNT stock opened at $79.22 on Friday. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $114.82. The stock has a market cap of $58.91 billion, a P/E ratio of 32.60, a P/E/G ratio of 2.77 and a beta of 1.07. The business has a fifty day simple moving average of $81.37 and a 200-day simple moving average of $86.24. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68.

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

Insider Buying and Selling

In other news, VP Michael Xie sold 3,546 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $86.53, for a total transaction of $306,835.38. Following the completion of the transaction, the vice president directly owned 10,492,018 shares of the company’s stock, valued at $907,874,317.54. This trade represents a 0.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ken Xie sold 158,485 shares of the company’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 completion of the sale, the chief executive officer directly owned 51,391,879 shares in the company, valued at approximately $4,445,911,452.29. The trade was a 0.31% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 17.20% of the company’s stock.

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.