Fortinet, Inc. $FTNT Shares Bought by Candriam S.C.A.

Candriam S.C.A. grew its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 29.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,556 shares of the software maker’s stock after purchasing an additional 69,868 shares during the quarter. Candriam S.C.A.’s holdings in Fortinet were worth $32,728,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Fortinet by 6.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,305,352 shares of the software maker’s stock worth $137,800,000 after buying an additional 82,937 shares during the last quarter. Warther Private Wealth LLC lifted its holdings in Fortinet by 39.7% in the second quarter. Warther Private Wealth LLC now owns 182,160 shares of the software maker’s stock valued at $19,258,000 after acquiring an additional 51,750 shares during the last quarter. Cooper Financial Group purchased a new position in Fortinet in the second quarter worth approximately $2,653,000. Mainstay Capital Management LLC ADV increased its stake in Fortinet by 105.8% during the second quarter. Mainstay Capital Management LLC ADV now owns 16,816 shares of the software maker’s stock worth $1,778,000 after acquiring an additional 8,643 shares during the last quarter. Finally, Motley Fool Asset Management LLC raised its position in Fortinet by 15.0% in the second quarter. Motley Fool Asset Management LLC now owns 50,464 shares of the software maker’s stock valued at $5,335,000 after purchasing an additional 6,566 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Trading Down 1.8%

NASDAQ FTNT opened at $82.14 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.24 and a current ratio of 1.33. The firm has a market cap of $61.08 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 3.17 and a beta of 1.08. The firm has a 50 day simple moving average of $83.47 and a 200-day simple moving average of $92.74. Fortinet, Inc. has a one year low of $70.12 and a one year high of $114.82.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. Fortinet had a net margin of 30.60% and a return on equity of 111.46%. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 EPS. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS. Q4 2025 guidance at 0.730-0.750 EPS. Equities research analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Insider Buying and Selling at Fortinet

In other Fortinet news, CEO Ken Xie sold 158,485 shares of the company’s stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Michael Xie sold 3,546 shares of the stock in a transaction dated Monday, November 3rd. The shares were 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 directly owned 10,492,018 shares in the company, valued at $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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Evercore ISI lowered their price target on Fortinet from $105.00 to $78.00 and set an “in-line” rating for the company in a report on Friday, August 8th. UBS Group lowered their target price on shares of Fortinet from $90.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Piper Sandler dropped their price target on shares of Fortinet from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Fortinet in a report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Fortinet from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $91.62.

Fortinet Company 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.