Cumberland Partners Ltd Has $4.23 Million Position in Fortinet, Inc. $FTNT

Cumberland Partners Ltd lifted its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 33.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,000 shares of the software maker’s stock after acquiring an additional 10,000 shares during the period. Cumberland Partners Ltd’s holdings in Fortinet were worth $4,229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Saudi Central Bank acquired a new stake in Fortinet during the first quarter worth approximately $25,000. LSV Asset Management acquired a new stake in shares of Fortinet during the 2nd quarter worth approximately $25,000. Clearstead Trust LLC acquired a new position in shares of Fortinet during the 1st quarter valued at $28,000. Caitong International Asset Management Co. Ltd boosted its stake in Fortinet by 2,184.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 297 shares of the software maker’s stock worth $29,000 after acquiring an additional 284 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake 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 in the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Stock Down 0.5%

FTNT stock opened at $79.73 on Thursday. The firm has a market capitalization of $59.29 billion, a PE ratio of 31.77, a P/E/G ratio of 3.17 and a beta of 1.08. The company has a quick ratio of 1.24, a current ratio of 1.33 and a debt-to-equity ratio of 0.24. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $114.82. The stock’s 50 day moving average is $83.68 and its 200-day moving average is $91.93.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 111.46% and a net margin of 30.60%.The business’s revenue was up 14.4% on a year-over-year basis. 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. Q4 2025 guidance at 0.730-0.750 EPS. Sell-side analysts expect that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets cut their price objective on shares of Fortinet from $110.00 to $90.00 and set a “market perform” rating on the stock in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Fortinet in a research note on Wednesday, October 8th. Wall Street Zen cut Fortinet from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Erste Group Bank lowered Fortinet from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. Finally, Evercore ISI reduced their price target on shares of Fortinet from $105.00 to $78.00 and set an “in-line” rating for the company in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $91.22.

Insider Transactions at Fortinet

In other Fortinet news, CEO Ken Xie sold 158,485 shares of the business’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 owned 51,391,879 shares of the company’s stock, valued at approximately $4,445,911,452.29. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael Xie sold 3,546 shares of Fortinet stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $86.53, for a total value of $306,835.38. Following the sale, the vice president owned 10,492,018 shares in the company, valued at $907,874,317.54. The trade was a 0.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 18.00% of the stock is owned by company insiders.

Fortinet Company Profile

Fortinet, Inc provides cybersecurity and convergence of networking and security solutions worldwide. It offers secure networking solutions focus on the convergence of networking and security; network firewall solutions that consist of FortiGate data centers, hyperscale, and distributed firewalls, as well as encrypted applications; wireless LAN solutions; and secure connectivity solutions, including FortiSwitch secure ethernet switches, FortiAP wireless local area network access points, FortiExtender 5G connectivity gateways, and other products.