Claro Advisors LLC Has $217,000 Stock Position in Fortinet, Inc. $FTNT

Claro Advisors LLC lessened its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 71.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,050 shares of the software maker’s stock after selling 5,210 shares during the quarter. Claro Advisors LLC’s holdings in Fortinet were worth $217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FTNT. Warther Private Wealth LLC boosted its holdings in shares of Fortinet by 39.7% in the 2nd quarter. Warther Private Wealth LLC now owns 182,160 shares of the software maker’s stock valued at $19,258,000 after buying an additional 51,750 shares during the last quarter. Cooper Financial Group bought a new position in shares of Fortinet in the 2nd quarter valued at about $2,653,000. Mainstay Capital Management LLC ADV increased its stake in shares of Fortinet by 105.8% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 16,816 shares of the software maker’s stock worth $1,778,000 after purchasing an additional 8,643 shares during the last quarter. Motley Fool Asset Management LLC raised its holdings in shares of Fortinet by 15.0% in the 2nd 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. Finally, Geneos Wealth Management Inc. lifted its stake in Fortinet by 40.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 73,186 shares of the software maker’s stock valued at $7,045,000 after purchasing an additional 21,177 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

Insider Transactions at Fortinet

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 transaction of $13,710,537.35. Following the transaction, 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 SEC, which is available at this hyperlink. Also, VP Michael Xie sold 3,546 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $86.53, for a total transaction of $306,835.38. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 17.20% of the company’s stock.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $80.54 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.33 and a quick ratio of 1.24. The firm has a market cap of $61.72 billion, a price-to-earnings ratio of 32.09, a P/E/G ratio of 3.17 and a beta of 1.08. The stock’s fifty day moving average price is $83.10 and its two-hundred day moving average price is $93.19. Fortinet, Inc. has a one year low of $70.12 and a one year high of $114.82.

Fortinet (NASDAQ:FTNT) last posted its 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 company 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 firm earned $0.63 earnings per share. The company’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. On average, equities analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on FTNT shares. Mizuho lowered their price target on Fortinet from $75.00 to $72.00 and set an “underperform” rating on the stock in a research report on Thursday. UBS Group decreased their target price on Fortinet from $90.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday. BMO Capital Markets dropped their price target on Fortinet from $110.00 to $90.00 and set a “market perform” rating on the stock in a research note on Thursday, August 7th. Jefferies Financial Group reduced their price objective on shares of Fortinet from $85.00 to $80.00 and set a “hold” rating for the company in a research report on Thursday. Finally, Wedbush decreased their price objective on shares of Fortinet from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $92.57.

About Fortinet

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.