Fortinet, Inc. $FTNT Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers raised its stake in Fortinet, Inc. (NASDAQ:FTNT) by 7.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,728 shares of the software maker’s stock after purchasing an additional 10,934 shares during the quarter. Cetera Investment Advisers’ holdings in Fortinet were worth $17,415,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of FTNT. Saudi Central Bank purchased a new stake in shares of Fortinet during the 1st quarter valued at about $25,000. Clearstead Trust LLC purchased a new stake in shares of Fortinet during the first quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Fortinet by 2,184.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 297 shares of the software maker’s stock worth $29,000 after purchasing an additional 284 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Fortinet by 41.4% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 355 shares of the software maker’s stock valued at $38,000 after purchasing an additional 104 shares during the period. Finally, Quaker Wealth Management LLC grew its holdings in Fortinet by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock valued at $38,000 after purchasing an additional 726 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FTNT. Weiss Ratings reiterated a “hold (c+)” rating on shares of Fortinet in a report on Wednesday, October 8th. JPMorgan Chase & Co. cut their price target on Fortinet from $87.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Evercore ISI reduced 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. Hsbc Global Res lowered Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Finally, Royal Bank Of Canada dropped their price objective on Fortinet from $95.00 to $85.00 and set a “sector perform” rating on the stock in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $91.22.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 158,485 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer owned 51,391,879 shares in the company, valued at $4,445,911,452.29. The trade was a 0.31% decrease in their ownership of the stock. 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 firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $86.53, for a total transaction of $306,835.38. Following the completion of the transaction, the vice president owned 10,492,018 shares in the company, valued at approximately $907,874,317.54. The trade was a 0.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 18.00% of the stock is currently owned by insiders.

Fortinet Price Performance

FTNT opened at $80.15 on Wednesday. The company has a market capitalization of $59.60 billion, a P/E ratio of 31.93, a PEG ratio of 3.17 and a beta of 1.08. The company has a 50-day moving average of $83.67 and a 200-day moving average of $92.02. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.24 and a current ratio of 1.33. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $114.82.

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

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.