J. Safra Sarasin Holding AG Has $33.19 Million Stock Holdings in Fortinet, Inc. $FTNT

J. Safra Sarasin Holding AG lifted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 38.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 394,742 shares of the software maker’s stock after purchasing an additional 109,641 shares during the period. J. Safra Sarasin Holding AG owned 0.05% of Fortinet worth $33,190,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FTNT. Balboa Wealth Partners grew its position in shares of Fortinet by 4.3% during the 2nd quarter. Balboa Wealth Partners now owns 2,330 shares of the software maker’s stock worth $246,000 after buying an additional 96 shares during the period. Hemington Wealth Management boosted its stake in Fortinet by 13.2% during the second quarter. Hemington Wealth Management now owns 851 shares of the software maker’s stock worth $89,000 after acquiring an additional 99 shares in the last quarter. Trust Co. of Vermont boosted its stake in Fortinet by 3.6% during the second quarter. Trust Co. of Vermont now owns 2,852 shares of the software maker’s stock worth $302,000 after acquiring an additional 100 shares in the last quarter. Board of the Pension Protection Fund grew its holdings in Fortinet by 4.5% in the second quarter. Board of the Pension Protection Fund now owns 2,300 shares of the software maker’s stock worth $243,000 after purchasing an additional 100 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake in Fortinet by 41.4% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 355 shares of the software maker’s stock valued at $38,000 after purchasing an additional 104 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

Insider Transactions at Fortinet

In related 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 transaction, the vice president directly owned 10,492,018 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 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 sale, 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 disclosure for this sale is available in the SEC filing. 18.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FTNT. Rosenblatt Securities reissued a “neutral” rating and set a $85.00 price objective on shares of Fortinet in a research report on Thursday, November 6th. Morgan Stanley reaffirmed an “underweight” rating and set a $70.00 price target (up from $66.00) on shares of Fortinet in a research note on Thursday, December 18th. Oppenheimer reissued a “market perform” rating on shares of Fortinet in a research note on Friday. Piper Sandler reaffirmed a “neutral” rating and set a $90.00 target price (up from $85.00) on shares of Fortinet in a research report on Monday, January 5th. Finally, Truist Financial set a $88.00 target price on Fortinet in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $90.04.

Fortinet Stock Up 1.8%

FTNT stock opened at $83.07 on Tuesday. The firm has a market capitalization of $61.78 billion, a PE ratio of 34.19, a P/E/G ratio of 2.84 and a beta of 1.07. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $114.82. The stock’s 50 day moving average is $80.16 and its 200-day moving average is $84.03.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.Fortinet’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $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 expect that Fortinet, Inc. will post 2.09 EPS for the current fiscal 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.