PKO Investment Management Joint Stock Co Takes Position in Fortinet, Inc. $FTNT

PKO Investment Management Joint Stock Co bought a new position in Fortinet, Inc. (NASDAQ:FTNT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 20,000 shares of the software maker’s stock, valued at approximately $1,682,000.

Other large investors have also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Fortinet by 6.8% during the second 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 in the last quarter. Warther Private Wealth LLC lifted its stake in Fortinet by 39.7% in the 2nd 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 in the last quarter. Asset Management One Co. Ltd. boosted its position in Fortinet by 4.7% during the 3rd 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. Cooper Financial Group acquired a new stake in Fortinet during the 2nd quarter worth about $2,653,000. Finally, Czech National Bank grew its stake in Fortinet by 6.5% during the 3rd quarter. Czech National Bank now owns 165,423 shares of the software maker’s stock valued at $13,909,000 after acquiring an additional 10,135 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Michael Xie sold 3,546 shares of the 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 completion of the transaction, the vice president directly 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 the SEC website. Also, CEO Ken Xie sold 158,485 shares of the business’s stock in a transaction 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 directly owned 51,391,879 shares in the company, valued at approximately $4,445,911,452.29. This represents a 0.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 18.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada reduced their price target on shares of Fortinet from $95.00 to $85.00 and set a “sector perform” rating for the company in a research report on Thursday, November 6th. 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. Robert W. Baird cut their target price 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. Weiss Ratings reissued a “hold (c)” rating on shares of Fortinet in a research note on Monday, December 29th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Fortinet in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Fortinet has a consensus rating of “Hold” and a consensus price target of $90.30.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $78.66 on Tuesday. 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 business’s 50 day moving average is $81.19 and its two-hundred day moving average is $85.94. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $114.82. The company has a market cap of $58.50 billion, a P/E ratio of 32.37, a P/E/G ratio of 2.77 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 EPS for the quarter, topping 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 company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the company earned $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 analysts expect that Fortinet, Inc. will post 2.09 EPS for the current year.

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.