Vestmark Advisory Solutions Inc. Invests $263,000 in Fortinet, Inc. $FTNT

Vestmark Advisory Solutions Inc. acquired a new stake in Fortinet, Inc. (NASDAQ:FTNT) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,492 shares of the software maker’s stock, valued at approximately $263,000.

A number of other large investors also recently made changes to their positions in the company. Saudi Central Bank acquired a new stake in shares of Fortinet during the first quarter worth $25,000. Clearstead Trust LLC acquired a new stake in Fortinet in the first quarter valued at about $28,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Fortinet by 2,184.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 297 shares of the software maker’s stock valued at $29,000 after purchasing an additional 284 shares during the last quarter. Mechanics Financial Corp acquired a new position in shares of Fortinet during the first quarter worth $36,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in Fortinet by 41.4% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 355 shares of the software maker’s stock worth $38,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

Insider Activity

In other news, CEO Ken Xie sold 158,485 shares of the firm’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 value of $13,710,537.35. Following the transaction, the chief executive officer 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael Xie sold 3,546 shares of the firm’s stock in a transaction dated 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 directly owned 10,492,018 shares in the company, valued at $907,874,317.54. The trade was a 0.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Fortinet in a report on Wednesday, October 8th. Daiwa America cut shares of Fortinet from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Scotiabank cut their target price on Fortinet from $115.00 to $85.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 7th. Citigroup lowered shares of Fortinet from a “neutral” rating to a “mixed” rating in a research report on Monday, October 20th. Finally, Erste Group Bank downgraded Fortinet from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Fortinet currently has a consensus rating of “Hold” and a consensus price target of $91.62.

Fortinet Trading Down 0.3%

Shares of FTNT stock opened at $81.87 on Thursday. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $114.82. The business’s fifty day moving average is $83.47 and its 200 day moving average is $92.74. 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 company has a market capitalization of $60.88 billion, a PE ratio of 32.57, a price-to-earnings-growth ratio of 3.17 and a beta of 1.08.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share for the quarter, beating 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 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 firm posted $0.63 EPS. The company’s revenue was up 14.4% compared to the same quarter last year. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS. Q4 2025 guidance at 0.730-0.750 EPS. On average, equities research analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

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.