Tandem Investment Advisors Inc. Takes $2.80 Million Position in Fortinet, Inc. $FTNT

Tandem Investment Advisors Inc. purchased a new position in Fortinet, Inc. (NASDAQ:FTNT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 33,281 shares of the software maker’s stock, valued at approximately $2,798,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. LSV Asset Management bought a new stake in Fortinet in the 2nd quarter worth approximately $25,000. Financial Consulate Inc. purchased a new position in shares of Fortinet in the 3rd quarter worth $25,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Fortinet in the third quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of 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 worth $38,000 after acquiring an additional 104 shares during the period. Finally, Quaker Wealth Management LLC increased its position in Fortinet by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock valued at $38,000 after acquiring an additional 726 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Price Performance

Shares of Fortinet stock opened at $81.51 on Friday. The company has a market capitalization of $60.61 billion, a price-to-earnings ratio of 33.54, a PEG ratio of 2.86 and a beta of 1.07. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. The stock’s 50-day simple moving average is $80.31 and its 200-day simple moving average is $83.88. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $114.82.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.11. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the company earned $0.63 EPS. The firm’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 and its Q4 2025 guidance at 0.730-0.750 EPS. As a group, analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on FTNT. Royal Bank Of Canada cut their price target on Fortinet from $95.00 to $85.00 and set a “sector perform” rating for the company in a research note on Thursday, November 6th. TD Cowen raised shares of Fortinet from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Friday, January 23rd. Truist Financial set a $88.00 price target on shares of Fortinet in a research note on Tuesday, January 20th. Jefferies Financial Group cut their price objective 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. Finally, UBS Group decreased their target price on Fortinet from $90.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-three have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $90.59.

Insider Buying and Selling at Fortinet

In other news, CEO Ken Xie sold 158,485 shares of the business’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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael Xie sold 3,546 shares of the firm’s 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 of the company’s stock, valued at $907,874,317.54. The trade was a 0.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is currently owned by insiders.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: TD Cowen upgraded FTNT to Buy and called the valuation reasonable, citing stable channel checks and keeping a $100 target — a bullish catalyst that has supported the stock and helped sector momentum. TD Cowen Calls Fortinet’s Valuation Reasonable
• Positive Sentiment: Rosenblatt upgraded Fortinet from Neutral to Buy and raised its price target to $100, signaling additional analyst support and potential upside if sentiment persists. Rosenblatt Upgrade (Benzinga)
• Positive Sentiment: Market commentary points to Fortinet’s upgrade as a positive sector signal — the TD Cowen lift earlier helped buoy cybersecurity peers, suggesting Fortinet’s bullish coverage can have broader market impact. Did a Fortinet Upgrade Put a Floor on CRWD Stock?
• Neutral Sentiment: Analysts and write-ups are evaluating Fortinet’s Unified Cloud?Risk platform and strategy; the long-term moat may strengthen if product adoption accelerates, but measurable near-term revenue/leverage impacts are unclear. Will Fortinet’s Unified Cloud?Risk Platform Deepen Its Competitive Moat?
• Neutral Sentiment: Reminder: Fortinet is projected to report earnings next week — that timing is the immediate catalyst; guidance and subscription growth details will likely drive any near?term move. Fortinet Projected to Post Earnings
• Neutral Sentiment: Short?interest data reported appears anomalous (shows zero shares), implying no clear short?pressure signal to explain stock movement; treat this item as noise until cleaner data appears.
• Negative Sentiment: Zacks’ preview argues Fortinet lacks the combination of factors that typically produce an earnings beat, which raises the risk of downside if results or guidance disappoint next week. Fortinet Reports Next Week: What You Should Expect (Zacks)

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.