Fortinet, Inc. $FTNT Stock Holdings Boosted by Sienna Gestion

Sienna Gestion lifted its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 10.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 79,988 shares of the software maker’s stock after acquiring an additional 7,308 shares during the period. Sienna Gestion’s holdings in Fortinet were worth $7,721,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FTNT. Brighton Jones LLC lifted its holdings in Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after acquiring an additional 221 shares during the last quarter. Bison Wealth LLC acquired a new position in Fortinet in the fourth quarter worth approximately $585,000. OneDigital Investment Advisors LLC increased its holdings in Fortinet by 20.6% in the first quarter. OneDigital Investment Advisors LLC now owns 6,438 shares of the software maker’s stock worth $620,000 after buying an additional 1,099 shares during the last quarter. Strategic Blueprint LLC increased its holdings in Fortinet by 5.2% in the first quarter. Strategic Blueprint LLC now owns 2,387 shares of the software maker’s stock worth $230,000 after buying an additional 119 shares during the last quarter. Finally, World Investment Advisors increased its holdings in Fortinet by 20.7% in the first quarter. World Investment Advisors now owns 3,758 shares of the software maker’s stock worth $362,000 after buying an additional 644 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ken Xie sold 158,485 shares of Fortinet stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $86.51, for a total transaction of $13,710,537.35. Following the transaction, the chief executive officer owned 51,391,879 shares in the company, valued at $4,445,911,452.29. The trade was a 0.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael Xie sold 3,546 shares of Fortinet stock in a transaction dated Monday, November 3rd. The shares were 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 $907,874,317.54. This trade represents a 0.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 17.20% of the company’s stock.

Fortinet Stock Up 0.9%

Shares of NASDAQ:FTNT opened at $85.99 on Thursday. The company has a 50 day moving average price of $83.07 and a two-hundred day moving average price of $93.28. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.24 and a current ratio of 1.33. The company has a market capitalization of $65.89 billion, a PE ratio of 34.26, a PEG ratio of 3.17 and a beta of 1.09. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $114.82.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. The company had revenue of $1.72 billion for 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 has set its FY 2025 guidance at 2.660-2.700 EPS. Q4 2025 guidance at 0.730-0.750 EPS. Analysts forecast that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Rosenblatt Securities restated a “neutral” rating and issued a $85.00 price objective (down previously from $125.00) on shares of Fortinet in a report on Thursday, August 7th. JPMorgan Chase & Co. lowered their price target on Fortinet from $105.00 to $87.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Evercore ISI lowered their price target on Fortinet from $105.00 to $78.00 and set an “in-line” rating on the stock in a report on Friday, August 8th. DZ Bank upgraded Fortinet from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Friday, August 8th. Finally, Erste Group Bank downgraded Fortinet from a “buy” rating to a “hold” rating in a report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, twenty-five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $97.03.

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.