LVM Capital Management Ltd. MI Purchases 7,605 Shares of Fortinet, Inc. $FTNT

by · The Cerbat Gem

LVM Capital Management Ltd. MI raised its position in Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 8.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 97,662 shares of the software maker’s stock after purchasing an additional 7,605 shares during the period. LVM Capital Management Ltd. MI’s holdings in Fortinet were worth $8,211,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Fortinet by 6.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,305,352 shares of the software maker’s stock worth $137,800,000 after purchasing an additional 82,937 shares in the last quarter. Warther Private Wealth LLC grew its position in Fortinet by 39.7% in the second quarter. Warther Private Wealth LLC now owns 182,160 shares of the software maker’s stock valued at $19,258,000 after purchasing an additional 51,750 shares in the last quarter. Cooper Financial Group acquired a new stake in Fortinet in the 2nd quarter valued at $2,653,000. Mainstay Capital Management LLC ADV lifted its position in Fortinet by 105.8% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 16,816 shares of the software maker’s stock worth $1,778,000 after buying an additional 8,643 shares in the last quarter. Finally, Motley Fool Asset Management LLC lifted its position in Fortinet by 15.0% during the 2nd quarter. Motley Fool Asset Management LLC now owns 50,464 shares of the software maker’s stock worth $5,335,000 after buying an additional 6,566 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $80.24 on Friday. 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 price is $82.77 and its two-hundred day moving average price is $88.67. The company has a market cap of $59.67 billion, a PE ratio of 33.02, a price-to-earnings-growth ratio of 2.97 and a beta of 1.10. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $114.82.

Fortinet (NASDAQ:FTNT – Get Free Report) last released 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 analysts’ expectations of $1.70 billion. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.The business’s revenue was up 14.4% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. 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, analysts predict that Fortinet, Inc. will post 2.09 EPS for the current year.

Wall Street Analyst Weigh In

FTNT has been the subject of several analyst reports. Barclays decreased their price objective on Fortinet from $90.00 to $88.00 and set an “equal weight” rating for the company in a report on Thursday, November 6th. Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 price target on shares of Fortinet in a research report on Monday, November 24th. TD Cowen decreased their price target on Fortinet from $105.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, November 6th. Hsbc Global Res lowered Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $70.00 price objective (up previously from $66.00) on shares of Fortinet in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-seven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Fortinet has an average rating of “Hold” and a consensus target price of $90.11.

Check Out Our Latest Stock Report on Fortinet

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 3,546 shares of Fortinet stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $86.53, for a total transaction 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 $907,874,317.54. The trade was a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ken Xie sold 158,485 shares of the 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 completion of the transaction, the chief executive officer directly owned 51,391,879 shares in the company, valued at $4,445,911,452.29. The trade was a 0.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 17.20% of the company’s stock.

Fortinet Profile

(Free Report)

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.

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