Fortinet, Inc. $FTNT Shares Bought by KCM Investment Advisors LLC

KCM Investment Advisors LLC raised its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,711 shares of the software maker’s stock after acquiring an additional 748 shares during the period. KCM Investment Advisors LLC’s holdings in Fortinet were worth $4,093,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Fortinet by 6.8% in 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 buying an additional 82,937 shares during the period. Warther Private Wealth LLC grew its holdings in 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 acquiring an additional 51,750 shares during the period. Cooper Financial Group purchased a new position in Fortinet during the second quarter valued at approximately $2,653,000. Mainstay Capital Management LLC ADV lifted its holdings 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 acquiring an additional 8,643 shares during the period. Finally, Motley Fool Asset Management LLC lifted its holdings in Fortinet by 15.0% in the second quarter. Motley Fool Asset Management LLC now owns 50,464 shares of the software maker’s stock valued at $5,335,000 after acquiring an additional 6,566 shares during the period. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Stock Performance

NASDAQ:FTNT opened at $81.79 on Friday. The company has a market cap of $62.67 billion, a P/E ratio of 32.59, a P/E/G ratio of 3.17 and a beta of 1.08. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $114.82. The company’s 50-day moving average price is $83.16 and its 200-day moving average price is $93.11. The company has a current ratio of 1.33, a quick ratio of 1.24 and a debt-to-equity ratio of 0.24.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.11. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Fortinet had a net margin of 30.60% and a return on equity of 111.46%. Fortinet’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 EPS. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS. Q4 2025 guidance at 0.730-0.750 EPS. On average, sell-side analysts forecast that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ken Xie sold 158,485 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

FTNT has been the subject of several recent research reports. Morgan Stanley reaffirmed an “underweight” rating and set a $67.00 target price (down from $78.00) on shares of Fortinet in a report on Tuesday, September 2nd. Jefferies Financial Group dropped their price target on shares of Fortinet from $85.00 to $80.00 and set a “hold” rating on the stock in a research report on Thursday. Rosenblatt Securities reiterated a “neutral” rating and issued a $85.00 price objective on shares of Fortinet in a research report on Thursday. Robert W. Baird lowered their target price on shares of Fortinet from $90.00 to $86.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, BMO Capital Markets cut their price target on Fortinet from $110.00 to $90.00 and set a “market perform” rating for the company in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $92.48.

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.