Twin Capital Management Inc. Has $5.04 Million Stake in Fortinet, Inc. $FTNT

Twin Capital Management Inc. grew its position in Fortinet, Inc. (NASDAQ:FTNT) by 2.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,713 shares of the software maker’s stock after buying an additional 963 shares during the quarter. Twin Capital Management Inc.’s holdings in Fortinet were worth $5,044,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in 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 acquiring an additional 82,937 shares during the last quarter. Warther Private Wealth LLC raised its position in shares of 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. Cooper Financial Group acquired a new position in shares of Fortinet in the 2nd quarter valued at about $2,653,000. Mainstay Capital Management LLC ADV lifted its stake in shares of Fortinet by 105.8% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 16,816 shares of the software maker’s stock valued at $1,778,000 after purchasing an additional 8,643 shares during the period. Finally, Motley Fool Asset Management LLC boosted its position in shares of Fortinet by 15.0% during the 2nd quarter. Motley Fool Asset Management LLC now owns 50,464 shares of the software maker’s stock valued at $5,335,000 after purchasing an additional 6,566 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Performance

Shares of Fortinet stock opened at $85.99 on Thursday. The business’s fifty day simple moving average is $83.07 and its 200 day simple moving average is $93.28. 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, Inc. has a 12 month low of $70.12 and a 12 month high of $114.82. The firm has a market capitalization of $65.89 billion, a P/E ratio of 34.26, a price-to-earnings-growth ratio of 3.17 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last announced its earnings results 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 firm had revenue of $1.72 billion during 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 has set its FY 2025 guidance at 2.660-2.700 EPS. Q4 2025 guidance at 0.730-0.750 EPS. As a group, analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current year.

Wall Street Analysts Forecast Growth

FTNT has been the topic of several recent analyst reports. Morgan Stanley reissued an “underweight” rating and issued a $67.00 price target (down from $78.00) on shares of Fortinet in a research note on Tuesday, September 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Fortinet in a research report on Wednesday, October 8th. Royal Bank Of Canada reduced their price target on shares of Fortinet from $110.00 to $95.00 and set a “sector perform” rating for the company in a report on Thursday, August 7th. KeyCorp cut shares of Fortinet from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 7th. Finally, Evercore ISI decreased their target price on Fortinet from $105.00 to $78.00 and set an “in-line” rating for the company in a research report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twenty-five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $97.03.

Insider Buying and Selling

In other news, CEO Ken Xie sold 158,485 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 51,391,879 shares in the company, valued at $4,445,911,452.29. This trade represents a 0.31% decrease in their position. The sale 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 that occurred on Monday, November 3rd. The stock was sold at an average price of $86.53, for a total transaction of $306,835.38. Following the completion of the sale, the vice president directly 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 SEC filing for this sale provides additional information. 17.20% of the stock is owned by corporate insiders.

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.