Williamson Legacy Group LLC Buys New Stake in Fortinet, Inc. $FTNT

Williamson Legacy Group LLC purchased a new position in Fortinet, Inc. (NASDAQ:FTNT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,445 shares of the software maker’s stock, valued at approximately $258,000.

A number of other large investors have also made changes to their positions in FTNT. Dover Advisors LLC grew its stake in Fortinet by 1.0% during the 2nd quarter. Dover Advisors LLC now owns 9,451 shares of the software maker’s stock worth $999,000 after buying an additional 94 shares during the last quarter. Balboa Wealth Partners boosted its holdings in Fortinet by 4.3% in the second quarter. Balboa Wealth Partners now owns 2,330 shares of the software maker’s stock worth $246,000 after acquiring an additional 96 shares in the last quarter. Hemington Wealth Management boosted its holdings in Fortinet by 13.2% in the second quarter. Hemington Wealth Management now owns 851 shares of the software maker’s stock worth $89,000 after acquiring an additional 99 shares in the last quarter. Peloton Wealth Strategists grew its stake in shares of Fortinet by 2.4% during the first quarter. Peloton Wealth Strategists now owns 4,330 shares of the software maker’s stock worth $417,000 after acquiring an additional 100 shares during the last quarter. Finally, Trust Co. of Vermont increased its holdings in shares of Fortinet by 3.6% during the second quarter. Trust Co. of Vermont now owns 2,852 shares of the software maker’s stock valued at $302,000 after acquiring an additional 100 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Fortinet Stock Up 0.7%

NASDAQ:FTNT opened at $81.13 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.33 and a quick ratio of 1.24. The company’s fifty day moving average price is $83.53 and its 200-day moving average price is $90.88. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $114.82. The firm has a market capitalization of $60.33 billion, a P/E ratio of 32.32, a PEG ratio of 3.17 and a beta of 1.08.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.74 EPS 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 company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the company earned $0.63 earnings per share. The firm’s 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 research analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on FTNT. Royal Bank Of Canada lowered their target price on shares of Fortinet from $95.00 to $85.00 and set a “sector perform” rating for the company in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Fortinet in a report on Wednesday, October 8th. Evercore ISI lowered their price objective on shares of Fortinet from $105.00 to $78.00 and set an “in-line” rating for the company in a research note on Friday, August 8th. TD Cowen cut their target price on Fortinet from $105.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, November 6th. Finally, Jefferies Financial Group reduced their target price on Fortinet from $85.00 to $80.00 and set a “hold” rating for the company in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned 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.com, the company presently has an average rating of “Hold” and an average price target of $90.37.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 158,485 shares of Fortinet stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $86.51, for a total transaction of $13,710,537.35. Following the completion of the transaction, the chief executive officer directly owned 51,391,879 shares in the company, valued at approximately $4,445,911,452.29. This trade represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael Xie sold 3,546 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president 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. 17.20% of the stock is owned by corporate insiders.

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.