Flossbach Von Storch SE Invests $820,000 in Fortinet, Inc. $FTNT

Flossbach Von Storch SE acquired a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,753 shares of the software maker’s stock, valued at approximately $820,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FTNT. Brighton Jones LLC grew its stake in shares of Fortinet by 2.2% in the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after buying an additional 221 shares in the last quarter. Bison Wealth LLC purchased a new position in Fortinet during the 4th quarter valued at about $585,000. GC Wealth Management RIA LLC grew its position in Fortinet by 130.1% in the 2nd quarter. GC Wealth Management RIA LLC now owns 6,615 shares of the software maker’s stock valued at $699,000 after acquiring an additional 3,740 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Fortinet by 0.5% during the second quarter. Janney Montgomery Scott LLC now owns 122,246 shares of the software maker’s stock worth $12,924,000 after purchasing an additional 599 shares during the period. Finally, Raleigh Capital Management Inc. lifted its position in shares of Fortinet by 27.3% during the second quarter. Raleigh Capital Management Inc. now owns 2,268 shares of the software maker’s stock worth $240,000 after purchasing an additional 486 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Stock Performance

Shares of FTNT stock opened at $82.08 on Thursday. The company has a market cap of $61.04 billion, a P/E ratio of 33.78, a PEG ratio of 2.85 and a beta of 1.07. The firm has a fifty day moving average price of $80.24 and a 200 day moving average price of $83.90. The company has a current ratio of 1.03, a quick ratio of 0.94 and a debt-to-equity ratio of 0.68. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month 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 (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%.Fortinet’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the business 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. Sell-side analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fortinet news, VP Michael Xie sold 3,546 shares of the stock in a transaction that occurred on 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 directly owned 10,492,018 shares in the company, valued at $907,874,317.54. This represents a 0.03% decrease in their ownership of the stock. The sale 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 firm’s stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 51,391,879 shares in the company, valued at approximately $4,445,911,452.29. The trade was a 0.31% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 18.00% of the company’s stock.

Analysts Set New Price Targets

FTNT has been the subject of a number of research reports. Rosenblatt Securities restated a “neutral” rating and issued a $85.00 price objective on shares of Fortinet in a report on Thursday, November 6th. Barclays decreased their price target on shares of Fortinet from $90.00 to $88.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 price objective on shares of Fortinet in a research report on Monday, November 24th. Piper Sandler reiterated a “neutral” rating and issued a $90.00 target price (up from $85.00) on shares of Fortinet in a report on Monday, January 5th. Finally, Royal Bank Of Canada lowered their target price on Fortinet from $95.00 to $85.00 and set a “sector perform” rating for the company in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Fortinet currently has a consensus rating of “Hold” and an average target price of $90.04.

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.