Spirepoint Private Client LLC Has $5 Million Holdings in Fortinet, Inc. $FTNT

Spirepoint Private Client LLC grew its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 16.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,412 shares of the software maker’s stock after acquiring an additional 8,264 shares during the quarter. Spirepoint Private Client LLC’s holdings in Fortinet were worth $4,995,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake 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 purchasing an additional 221 shares during the last quarter. Bison Wealth LLC acquired a new position in shares of Fortinet during the fourth quarter worth $585,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Fortinet by 18.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 104,685 shares of the software maker’s stock valued at $10,077,000 after acquiring an additional 16,359 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in Fortinet by 1.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 13,933 shares of the software maker’s stock worth $1,341,000 after purchasing an additional 194 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in Fortinet by 75.1% in the first quarter. NewEdge Advisors LLC now owns 55,109 shares of the software maker’s stock valued at $5,305,000 after purchasing an additional 23,628 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on FTNT. Jefferies Financial Group lowered their price objective on Fortinet from $85.00 to $80.00 and set a “hold” rating for the company in a research note on Thursday, November 6th. Rosenblatt Securities restated a “neutral” rating and issued a $85.00 price target on shares of Fortinet in a research report on Thursday, November 6th. Royal Bank Of Canada cut their price target on shares of Fortinet from $95.00 to $85.00 and set a “sector perform” rating on the stock in a report on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Fortinet in a report on Monday, December 29th. Finally, Hsbc Global Res lowered Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $90.30.

Insiders Place Their Bets

In related news, CEO Ken Xie sold 158,485 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $86.51, for a total value of $13,710,537.35. Following the completion of the sale, the chief executive officer directly owned 51,391,879 shares of the company’s stock, valued at $4,445,911,452.29. The trade was a 0.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Michael Xie sold 3,546 shares of the business’s 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 sale, the vice president owned 10,492,018 shares of the company’s stock, valued at approximately $907,874,317.54. This 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 insiders.

Fortinet Stock Performance

FTNT stock opened at $77.94 on Tuesday. The firm has a market cap of $57.96 billion, a PE ratio of 32.07, a price-to-earnings-growth ratio of 2.72 and a beta of 1.07. The company has a current ratio of 1.03, a quick ratio of 0.94 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $81.87 and a 200-day moving average price of $86.79. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $114.82.

Fortinet (NASDAQ:FTNT) last issued its 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. 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 company posted $0.63 earnings per share. The firm’s revenue for the quarter 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. As a group, equities research analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Fortinet Company 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.