Fortinet, Inc. $FTNT Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. raised its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 21.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,087,192 shares of the software maker’s stock after purchasing an additional 370,690 shares during the quarter. Franklin Resources Inc. owned 0.27% of Fortinet worth $220,659,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FTNT. Vanguard Group Inc. boosted its stake in shares of Fortinet by 1.4% in the second quarter. Vanguard Group Inc. now owns 72,686,920 shares of the software maker’s stock valued at $7,684,461,000 after buying an additional 1,024,516 shares in the last quarter. Geode Capital Management LLC raised its position in Fortinet by 5.2% in the second quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock worth $1,783,091,000 after acquiring an additional 828,569 shares in the last quarter. Invesco Ltd. lifted its holdings in Fortinet by 2.2% in the first quarter. Invesco Ltd. now owns 8,570,528 shares of the software maker’s stock valued at $824,999,000 after acquiring an additional 181,835 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Fortinet by 17.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,016,467 shares of the software maker’s stock worth $675,405,000 after purchasing an additional 1,026,277 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Fortinet by 0.8% during the 1st quarter. Northern Trust Corp now owns 6,519,558 shares of the software maker’s stock worth $627,573,000 after purchasing an additional 49,238 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Trading Up 1.1%

Shares of FTNT opened at $78.86 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. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $114.82. The stock has a market cap of $58.64 billion, a price-to-earnings ratio of 31.42, a price-to-earnings-growth ratio of 3.17 and a beta of 1.08. The firm has a 50 day simple moving average of $83.60 and a 200-day simple moving average of $91.52.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. Fortinet had a return on equity of 111.46% and a net margin of 30.60%.Fortinet’s revenue was up 14.4% on a year-over-year basis. 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. Equities analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on FTNT shares. Barclays reduced their price objective on shares of Fortinet from $90.00 to $88.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Robert W. Baird dropped their target price on shares of Fortinet from $90.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Hsbc Global Res downgraded shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. JPMorgan Chase & Co. decreased 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. Finally, Citigroup cut Fortinet from a “neutral” rating to a “mixed” rating in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Fortinet has an average rating of “Hold” and a consensus price target of $91.22.

Insider Transactions at Fortinet

In other Fortinet news, CEO Ken Xie sold 158,485 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer directly owned 51,391,879 shares of the company’s stock, valued at $4,445,911,452.29. This trade represents a 0.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael Xie sold 3,546 shares of Fortinet 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 17.20% of the company’s stock.

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.