Fortinet, Inc. $FTNT Shares Acquired by Maia Wealth LLC

Maia Wealth LLC raised its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 226.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,539 shares of the software maker’s stock after purchasing an additional 5,924 shares during the quarter. Maia Wealth LLC’s holdings in Fortinet were worth $903,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of FTNT. J.W. Cole Advisors Inc. increased its stake in shares of Fortinet by 21.6% during the second quarter. J.W. Cole Advisors Inc. now owns 17,737 shares of the software maker’s stock worth $1,875,000 after acquiring an additional 3,156 shares during the period. Advisors Asset Management Inc. raised its position in Fortinet by 5.2% during the second quarter. Advisors Asset Management Inc. now owns 42,425 shares of the software maker’s stock worth $4,485,000 after acquiring an additional 2,113 shares during the last quarter. Laurel Wealth Advisors LLC grew its holdings in Fortinet by 10,480.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 529 shares of the software maker’s stock valued at $56,000 after buying an additional 524 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its position in Fortinet by 33.6% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 1,054 shares of the software maker’s stock worth $111,000 after purchasing an additional 265 shares in the last quarter. Finally, CreativeOne Wealth LLC lifted its stake in shares of Fortinet by 3.4% during the second quarter. CreativeOne Wealth LLC now owns 19,920 shares of the software maker’s stock valued at $2,106,000 after buying an additional 663 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Michael Xie sold 3,546 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was 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 of the company’s stock, valued at $907,874,317.54. The trade was a 0.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ken Xie sold 158,485 shares of the company’s stock in a transaction 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 sale, the chief executive officer directly owned 51,391,879 shares of the company’s stock, valued at approximately $4,445,911,452.29. This represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 17.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on FTNT. Evercore ISI lowered their target price on shares of Fortinet from $105.00 to $78.00 and set an “in-line” rating for the company in a report on Friday, August 8th. KeyCorp lowered shares of Fortinet from an “overweight” rating to a “sector weight” rating in a report on Thursday, August 7th. Morgan Stanley reissued an “underweight” rating and set a $67.00 price target (down previously from $78.00) on shares of Fortinet in a research report on Tuesday, September 2nd. DZ Bank upgraded Fortinet from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research note on Friday, August 8th. Finally, Daiwa Capital Markets lowered shares of Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price target for the company. in a report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Fortinet currently has an average rating of “Hold” and a consensus price target of $90.37.

Fortinet Price Performance

NASDAQ:FTNT opened at $80.55 on Thursday. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $114.82. The firm has a market cap of $59.90 billion, a P/E ratio of 32.09, a PEG ratio of 3.17 and a beta of 1.08. The business’s 50-day moving average price is $83.60 and its 200 day moving average price is $91.09. 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 (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.11. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. Fortinet had a net margin of 30.60% and a return on equity of 111.46%. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS. Q4 2025 guidance at 0.730-0.750 EPS. As a group, sell-side analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Fortinet 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.