Fortinet, Inc. $FTNT Shares Acquired by Tema Etfs LLC

Tema Etfs LLC lifted its stake in Fortinet, Inc. (NASDAQ:FTNT) by 107.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,547 shares of the software maker’s stock after purchasing an additional 12,184 shares during the quarter. Tema Etfs LLC’s holdings in Fortinet were worth $1,980,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FTNT. Norges Bank purchased a new stake in Fortinet in the 2nd quarter valued at $1,640,900,000. Vanguard Group Inc. raised its holdings in shares of Fortinet by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 72,686,920 shares of the software maker’s stock worth $7,684,461,000 after acquiring an additional 1,024,516 shares during the period. Montrusco Bolton Investments Inc. acquired a new position in shares of Fortinet during the 2nd quarter valued at about $108,056,000. State Street Corp grew its holdings in shares of Fortinet by 3.0% in the second quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock valued at $3,085,244,000 after purchasing an additional 862,468 shares during the period. Finally, Geode Capital Management LLC increased its position in Fortinet by 5.2% during the second quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock worth $1,783,091,000 after purchasing an additional 828,569 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling at Fortinet

In other Fortinet news, VP Michael Xie sold 3,546 shares of the business’s stock in a transaction dated 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ken Xie sold 158,485 shares of the company’s 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 completion of the transaction, the chief executive officer owned 51,391,879 shares of the company’s stock, valued at approximately $4,445,911,452.29. This trade represents a 0.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 18.00% of the company’s stock.

Fortinet Stock Performance

Shares of FTNT stock opened at $78.66 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.94 and a current ratio of 1.03. The stock has a market capitalization of $58.50 billion, a price-to-earnings ratio of 32.37, a PEG ratio of 2.77 and a beta of 1.07. Fortinet, Inc. has a one year low of $70.12 and a one year high of $114.82. The company’s 50-day simple moving average is $81.19 and its 200-day simple moving average is $85.94.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the business earned $0.63 EPS. The business’s quarterly revenue was up 14.4% on a year-over-year basis. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. Equities analysts anticipate that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 target price on shares of Fortinet in a research note on Monday, November 24th. UBS Group reduced their price target on shares of Fortinet from $90.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. TD Cowen lowered their price objective on Fortinet from $105.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, November 6th. Daiwa Capital Markets cut Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 target price for the company. in a research note on Wednesday, November 12th. Finally, Hsbc Global Res lowered Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-eight have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Fortinet currently has an average rating of “Hold” and a consensus target price of $90.30.

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.