KCM Investment Advisors LLC Buys 748 Shares of Fortinet, Inc. $FTNT

KCM Investment Advisors LLC boosted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 2.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 38,711 shares of the software maker’s stock after buying an additional 748 shares during the period. KCM Investment Advisors LLC’s holdings in Fortinet were worth $4,093,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Fortinet by 5.2% in the first quarter. Vanguard Group Inc. now owns 71,662,404 shares of the software maker’s stock valued at $6,898,223,000 after acquiring an additional 3,546,934 shares during the period. Invesco Ltd. raised its position in Fortinet by 2.2% in the 1st quarter. Invesco Ltd. now owns 8,570,528 shares of the software maker’s stock worth $824,999,000 after purchasing an additional 181,835 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Fortinet by 17.1% in the first 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 purchasing an additional 1,026,277 shares during the last quarter. Northern Trust Corp boosted its position in shares of Fortinet by 0.8% during the first quarter. Northern Trust Corp now owns 6,519,558 shares of the software maker’s stock valued at $627,573,000 after buying an additional 49,238 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Fortinet by 40.9% during the first quarter. AQR Capital Management LLC now owns 5,971,648 shares of the software maker’s stock valued at $561,156,000 after buying an additional 1,733,670 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Stock Up 1.6%

Shares of FTNT stock opened at $81.79 on Friday. The stock’s fifty day moving average price is $83.16 and its 200 day moving average price is $93.11. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $114.82. The company has a market cap of $62.67 billion, a price-to-earnings ratio of 32.59, a price-to-earnings-growth ratio of 3.17 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.33 and a quick ratio of 1.24.

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 the consensus estimate of $0.63 by $0.11. Fortinet had a return on equity of 111.46% and a net margin of 30.60%.The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the company earned $0.63 earnings per share. The company’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. On average, research analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FTNT has been the subject of a number of research analyst reports. Barclays decreased their price target on Fortinet from $90.00 to $88.00 and set an “equal weight” rating for the company in a research note on Thursday. Morgan Stanley reissued an “underweight” rating and set a $67.00 target price (down from $78.00) on shares of Fortinet in a research note on Tuesday, September 2nd. Erste Group Bank lowered shares of Fortinet from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. DZ Bank upgraded shares of Fortinet from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Friday, August 8th. Finally, Stifel Nicolaus reduced their target price on shares of Fortinet from $95.00 to $85.00 and set a “hold” rating on the stock in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $92.48.

Insider Buying and Selling

In other Fortinet 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 transaction of $13,710,537.35. Following the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael Xie sold 3,546 shares of the company’s stock in a transaction that occurred 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 $907,874,317.54. The trade was a 0.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is owned by company 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.