Robeco Institutional Asset Management B.V. Sells 931,704 Shares of Fortinet, Inc. $FTNT

Robeco Institutional Asset Management B.V. reduced its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 36.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,629,635 shares of the software maker’s stock after selling 931,704 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.21% of Fortinet worth $137,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of FTNT. Daymark Wealth Partners LLC raised its position in Fortinet by 2.1% in the 3rd quarter. Daymark Wealth Partners LLC now owns 256,176 shares of the software maker’s stock worth $21,539,000 after buying an additional 5,276 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Fortinet by 4.7% in the third quarter. Asset Management One Co. Ltd. now owns 402,278 shares of the software maker’s stock worth $33,824,000 after acquiring an additional 17,892 shares during the period. GraniteShares Advisors LLC raised its holdings in shares of Fortinet by 15.7% during the third quarter. GraniteShares Advisors LLC now owns 9,967 shares of the software maker’s stock valued at $838,000 after purchasing an additional 1,354 shares during the last quarter. Signaturefd LLC lifted its position in Fortinet by 9.1% during the third quarter. Signaturefd LLC now owns 17,546 shares of the software maker’s stock valued at $1,475,000 after purchasing an additional 1,460 shares during the period. Finally, Bell Bank lifted its position in Fortinet by 1.8% during the third quarter. Bell Bank now owns 11,896 shares of the software maker’s stock valued at $1,000,000 after purchasing an additional 207 shares during the period. 83.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Michael Xie sold 3,546 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $86.53, for a total value of $306,835.38. Following the completion of the transaction, the vice president owned 10,492,018 shares of the company’s stock, valued at approximately $907,874,317.54. This represents a 0.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ken Xie sold 158,485 shares of the stock in a transaction 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 $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. Corporate insiders own 18.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Jefferies Financial Group lowered their price target on Fortinet from $85.00 to $80.00 and set a “hold” rating on the stock in a report on Thursday, November 6th. Citigroup downgraded Fortinet from a “neutral” rating to a “mixed” rating in a report on Monday, October 20th. Hsbc Global Res downgraded Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Robert W. Baird reduced their price target 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. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $70.00 price objective (up previously from $66.00) on shares of Fortinet in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-seven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $90.30.

Fortinet Stock Up 0.1%

NASDAQ FTNT opened at $77.94 on Tuesday. The stock’s 50-day moving average price is $81.87 and its 200-day moving average price is $86.79. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $114.82. The company has a market capitalization of $57.96 billion, a P/E ratio of 32.07, a price-to-earnings-growth ratio of 2.72 and a beta of 1.07.

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 analysts’ consensus estimates of $0.63 by $0.11. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.The firm’s revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. On average, equities research analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Fortinet 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.