Cwm LLC Has $6.02 Million Holdings in Fortinet, Inc. $FTNT

Cwm LLC lessened its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 49.6% during the 3rd quarter, Holdings Channel reports. The firm owned 71,564 shares of the software maker’s stock after selling 70,563 shares during the period. Cwm LLC’s holdings in Fortinet were worth $6,017,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FTNT. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position 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 valued at $137,800,000 after acquiring an additional 82,937 shares during the last quarter. Warther Private Wealth LLC grew its stake in shares of Fortinet by 39.7% during the second quarter. Warther Private Wealth LLC now owns 182,160 shares of the software maker’s stock worth $19,258,000 after purchasing an additional 51,750 shares during the period. Cooper Financial Group bought a new stake in Fortinet in the second quarter valued at about $2,653,000. Czech National Bank lifted its stake in Fortinet by 6.5% in the third quarter. Czech National Bank now owns 165,423 shares of the software maker’s stock valued at $13,909,000 after buying an additional 10,135 shares during the period. Finally, Mainstay Capital Management LLC ADV lifted its stake in Fortinet by 105.8% in the second quarter. Mainstay Capital Management LLC ADV now owns 16,816 shares of the software maker’s stock valued at $1,778,000 after buying an additional 8,643 shares during the period. 83.71% of the stock is owned by institutional investors.

Fortinet Stock Down 0.6%

Shares of FTNT stock opened at $80.31 on Wednesday. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $114.82. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average of $82.39 and a 200-day moving average of $87.43. The company has a market capitalization of $59.72 billion, a price-to-earnings ratio of 33.05, a P/E/G ratio of 3.01 and a beta of 1.10.

Fortinet (NASDAQ:FTNT) last announced 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 net margin of 28.58% and a return on equity of 118.27%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the business earned $0.63 EPS. 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 and its Q4 2025 guidance at 0.730-0.750 EPS. As a group, equities research analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Insider Transactions at Fortinet

In related news, VP Michael Xie sold 3,546 shares of Fortinet stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $86.53, for a total value of $306,835.38. Following the sale, the vice president owned 10,492,018 shares of the company’s stock, valued at approximately $907,874,317.54. This trade represents a 0.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value 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 position. The disclosure for this sale is available in the SEC filing. 18.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FTNT has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered their price target on Fortinet from $85.00 to $80.00 and set a “hold” rating for the company in a research note on Thursday, November 6th. Mizuho decreased their price objective on shares of Fortinet from $75.00 to $72.00 and set an “underperform” rating for the company in a report on Thursday, November 6th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $75.00 target price (down previously from $85.00) on shares of Fortinet in a research note on Wednesday, December 17th. Daiwa America cut shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Robert W. Baird lowered their price objective on shares of Fortinet from $90.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $90.11.

Fortinet Company Profile

Fortinet, Inc (NASDAQ: FTNT) is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co‑founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia‑Pacific.

Fortinet’s product portfolio centers on network security appliances and software, with its FortiGate next‑generation firewalls and the FortiOS operating system forming a core platform.