Winnow Wealth LLC Buys Shares of 2,167 Fortinet, Inc. $FTNT

Winnow Wealth LLC acquired a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,167 shares of the software maker’s stock, valued at approximately $229,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Fortinet by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 72,686,920 shares of the software maker’s stock worth $7,684,461,000 after acquiring an additional 1,024,516 shares during the period. Geode Capital Management LLC raised its holdings in shares of Fortinet by 5.2% during the second quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock valued at $1,783,091,000 after buying an additional 828,569 shares during the last quarter. Invesco Ltd. boosted its position in shares of Fortinet by 2.2% during the first quarter. Invesco Ltd. now owns 8,570,528 shares of the software maker’s stock worth $824,999,000 after buying an additional 181,835 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Fortinet by 17.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,016,467 shares of the software maker’s stock worth $675,405,000 after buying an additional 1,026,277 shares in the last quarter. Finally, Northern Trust Corp increased its position in Fortinet by 0.8% in the 1st quarter. Northern Trust Corp now owns 6,519,558 shares of the software maker’s stock valued at $627,573,000 after acquiring an additional 49,238 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $80.69 on Thursday. The stock’s fifty day simple moving average is $83.68 and its 200 day simple moving average is $91.93. The stock has a market capitalization of $60.00 billion, a price-to-earnings ratio of 32.13, 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. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $114.82.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. Fortinet had a return on equity of 111.46% and a net margin of 30.60%.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 business posted $0.63 EPS. Fortinet’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, sell-side analysts forecast that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Insider Activity

In other Fortinet news, CEO Ken Xie sold 158,485 shares of the 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 owned 51,391,879 shares in the company, valued at $4,445,911,452.29. This represents a 0.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael Xie sold 3,546 shares of the business’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 owned 10,492,018 shares in the company, valued at approximately $907,874,317.54. This represents a 0.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 18.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FTNT shares. Truist Financial reduced their price target on Fortinet from $125.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Evercore ISI dropped their price target on shares of Fortinet from $105.00 to $78.00 and set an “in-line” rating on the stock in a research report on Friday, August 8th. Daiwa Capital Markets cut shares of Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price objective for the company. in a report on Wednesday, November 12th. Wells Fargo & Company lowered their price objective on shares of Fortinet from $110.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 7th. Finally, Robert W. Baird cut their target price on Fortinet from $90.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Fortinet has an average rating of “Hold” and a consensus price target of $91.22.

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.