National Pension Service Increases Stock Position in Fortinet, Inc. $FTNT

National Pension Service lifted its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,172,337 shares of the software maker’s stock after buying an additional 99,489 shares during the period. National Pension Service owned approximately 0.28% of Fortinet worth $229,659,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of FTNT. Saudi Central Bank purchased a new stake in shares of Fortinet during the 1st quarter valued at $25,000. Clearstead Trust LLC bought a new position in Fortinet during the first quarter valued at about $28,000. Caitong International Asset Management Co. Ltd increased its holdings 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 buying an additional 284 shares during the last quarter. Mechanics Financial Corp bought a new stake in Fortinet in the first quarter worth about $36,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted 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 acquiring an additional 104 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Ken Xie sold 158,485 shares of the business’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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael Xie sold 3,546 shares of the stock in a transaction 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 transaction, the vice president directly owned 10,492,018 shares in the company, valued at approximately $907,874,317.54. This represents a 0.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 17.20% of the company’s stock.

Fortinet Stock Performance

NASDAQ:FTNT opened at $82.14 on Thursday. The stock has a market cap of $61.08 billion, a P/E ratio of 32.73, a PEG 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. The business’s 50-day moving average price is $83.47 and its two-hundred day moving average price is $92.74. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $114.82.

Fortinet (NASDAQ:FTNT) last posted 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. Fortinet had a net margin of 30.60% and a return on equity of 111.46%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter last year, the company posted $0.63 EPS. The business’s quarterly revenue was up 14.4% on a year-over-year basis. 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, equities analysts predict that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on FTNT. Cowen lowered shares of Fortinet from a “buy” rating to a “hold” rating in a research note on Thursday, August 7th. Royal Bank Of Canada lowered their target price on Fortinet from $95.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 6th. Morgan Stanley reaffirmed 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. Stifel Nicolaus decreased their price objective on Fortinet from $95.00 to $85.00 and set a “hold” rating for the company in a report on Thursday, August 7th. 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 analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $91.62.

About Fortinet

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.