Accurate Wealth Management LLC Sells 9,572 Shares of Fortinet, Inc. $FTNT

Accurate Wealth Management LLC reduced its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 48.0% in the third quarter, Holdings Channel reports. The firm owned 10,359 shares of the software maker’s stock after selling 9,572 shares during the quarter. Accurate Wealth Management LLC’s holdings in Fortinet were worth $861,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FTNT. Dover Advisors LLC increased its position in shares of Fortinet by 1.0% during the second quarter. Dover Advisors LLC now owns 9,451 shares of the software maker’s stock valued at $999,000 after acquiring an additional 94 shares in the last quarter. Balboa Wealth Partners boosted its stake in Fortinet by 4.3% during the 2nd quarter. Balboa Wealth Partners now owns 2,330 shares of the software maker’s stock valued at $246,000 after purchasing an additional 96 shares during the last quarter. Hemington Wealth Management boosted its stake in Fortinet by 13.2% during the 2nd quarter. Hemington Wealth Management now owns 851 shares of the software maker’s stock valued at $89,000 after purchasing an additional 99 shares during the last quarter. Peloton Wealth Strategists increased its holdings in shares of Fortinet by 2.4% in the 1st quarter. Peloton Wealth Strategists now owns 4,330 shares of the software maker’s stock worth $417,000 after purchasing an additional 100 shares in the last quarter. Finally, Trust Co. of Vermont raised its stake in shares of Fortinet by 3.6% in the second quarter. Trust Co. of Vermont now owns 2,852 shares of the software maker’s stock worth $302,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FTNT shares. Barclays dropped their price objective on Fortinet from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fortinet in a report on Monday. Hsbc Global Res cut shares of Fortinet from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Daiwa Capital Markets cut shares of Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 target price on the stock. in a report on Wednesday, November 12th. Finally, Jefferies Financial Group cut their target price on shares of Fortinet from $85.00 to $80.00 and set a “hold” rating for the company in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-seven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Fortinet has a consensus rating of “Hold” and an average price target of $90.11.

Insider Activity

In other news, 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 transaction, the vice president owned 10,492,018 shares of the company’s stock, valued at $907,874,317.54. This trade represents a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction, the chief executive officer owned 51,391,879 shares of the company’s stock, valued at approximately $4,445,911,452.29. This trade represents a 0.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is owned by company insiders.

Fortinet Stock Down 1.1%

FTNT opened at $79.41 on Friday. The firm’s 50 day simple moving average is $82.17 and its two-hundred day simple moving average is $87.32. The company has a market capitalization of $59.05 billion, a PE ratio of 32.68, a PEG ratio of 2.96 and a beta of 1.07. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $114.82. The company has a current ratio of 1.03, a quick ratio of 0.94 and a debt-to-equity ratio of 0.68.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 EPS for the quarter, topping the consensus estimate of $0.63 by $0.11. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.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 posted $0.63 EPS. Fortinet’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 and its Q4 2025 guidance at 0.730-0.750 EPS. As a group, equities analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current year.

About Fortinet

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.