Symphony Financial Ltd. Co. Sells 148,537 Shares of Fortinet, Inc. $FTNT

Symphony Financial Ltd. Co. reduced its position in Fortinet, Inc. (NASDAQ:FTNT) by 92.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,684 shares of the software maker’s stock after selling 148,537 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Fortinet were worth $984,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Fortinet in the 2nd quarter worth approximately $1,640,900,000. Vanguard Group Inc. lifted its stake in Fortinet by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 72,686,920 shares of the software maker’s stock valued at $7,684,461,000 after acquiring an additional 1,024,516 shares during the period. Montrusco Bolton Investments Inc. bought a new position in Fortinet in the second quarter valued at about $108,056,000. State Street Corp grew its stake in shares of Fortinet by 3.0% during the 2nd quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock valued at $3,085,244,000 after purchasing an additional 862,468 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Fortinet by 5.2% during the 2nd quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock valued at $1,783,091,000 after purchasing an additional 828,569 shares during the last quarter. 83.71% of the stock is owned by institutional investors.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: TD Cowen upgraded Fortinet to Buy and set a $100 price target, arguing AI risks are overstated and forecasting stronger billings into 2026 — this is the principal catalyst for today’s rally. Fortinet Is Top S&P 500 Stock After Upgrade. Don’t Worry About ‘AI Eating Software.
• Positive Sentiment: TD Cowen’s upgrade was backed by “solid checks” from the field, per reports, giving the call more credibility and suggesting demand/billings data corroborate the upbeat view. Fortinet in focus as TD Cowen upgrades on back of ‘solid checks’
• Positive Sentiment: Multiple outlets note a five?star analyst upgrade to Buy (TipRanks/Benzinga coverage), lifting investor attention and trading volume — momentum and analyst conviction are reinforcing the move. Fortinet Stock (FTNT) Surges after Five-Star Analyst Upgrades to Buy Rating
• Positive Sentiment: Coverage summaries and quick news pieces (e.g., Benzinga/Yahoo) are amplifying the upgrade narrative, attracting short-term traders and contributing to above-average volume. Tesla removes Autopilot software, Fortinet upgraded to Buy
• Neutral Sentiment: Fortinet is appearing among intraday Nasdaq gainers and tech/AI rotation lists — helpful context for momentum but not a fundamental change. Live Nasdaq Composite: Market Mettle Tested in Whipsaw Week
• Neutral Sentiment: Industry/ETF commentary highlights Fortinet’s role in cloud and security ETFs — may attract passive inflows over time but is not an immediate catalyst. Fortinet (NASDAQ:FTNT) Nasdaq Composite ETF Cloud Security Reach

Fortinet Stock Performance

NASDAQ FTNT opened at $81.64 on Friday. The business has a 50 day simple moving average of $80.14 and a two-hundred day simple moving average of $84.48. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 0.94. The stock has a market capitalization of $60.71 billion, a PE ratio of 33.60, a P/E/G ratio of 2.71 and a beta of 1.07. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $114.82.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The company’s revenue was up 14.4% compared to the same quarter last year. During the same period last year, the business 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 predict that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, 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 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 $4,445,911,452.29. This represents a 0.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael Xie sold 3,546 shares of Fortinet stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $86.53, for a total value of $306,835.38. Following the transaction, the vice president owned 10,492,018 shares of the company’s stock, valued at approximately $907,874,317.54. This represents a 0.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.