Campbell & CO Investment Adviser LLC Makes New Investment in Fortinet, Inc. $FTNT

Campbell & CO Investment Adviser LLC acquired a new position in Fortinet, Inc. (NASDAQ:FTNT) during the second quarter, HoldingsChannel reports. The institutional investor acquired 9,158 shares of the software maker’s stock, valued at approximately $968,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Fortinet by 5.2% in the first quarter. Vanguard Group Inc. now owns 71,662,404 shares of the software maker’s stock valued at $6,898,223,000 after acquiring an additional 3,546,934 shares in the last quarter. Invesco Ltd. lifted its position in shares of Fortinet by 2.2% in the 1st quarter. Invesco Ltd. now owns 8,570,528 shares of the software maker’s stock worth $824,999,000 after purchasing an additional 181,835 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Fortinet by 17.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,016,467 shares of the software maker’s stock valued at $675,405,000 after purchasing an additional 1,026,277 shares in the last quarter. Northern Trust Corp increased its position in shares of Fortinet by 0.8% during the first quarter. Northern Trust Corp now owns 6,519,558 shares of the software maker’s stock valued at $627,573,000 after buying an additional 49,238 shares during the period. Finally, AQR Capital Management LLC raised its stake in Fortinet by 40.9% in the first quarter. AQR Capital Management LLC now owns 5,971,648 shares of the software maker’s stock worth $561,156,000 after buying an additional 1,733,670 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $82.14 on Thursday. The firm has a market cap of $61.08 billion, a P/E ratio of 32.73, a PEG ratio of 3.17 and a beta of 1.08. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $114.82. The company has a quick ratio of 1.24, a current ratio of 1.33 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average of $83.47 and a 200 day moving average of $92.74.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, November 5th. The software maker reported $0.74 EPS for the quarter, beating the consensus estimate of $0.63 by $0.11. Fortinet had a return on equity of 111.46% and a net margin of 30.60%.The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the business posted $0.63 EPS. The company’s revenue was up 14.4% compared to the same quarter last year. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS. Q4 2025 guidance at 0.730-0.750 EPS. As a group, research analysts expect that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Insider Activity

In other news, CEO Ken Xie sold 158,485 shares of the firm’s 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 sale, the chief executive officer owned 51,391,879 shares of the company’s stock, valued at $4,445,911,452.29. This trade represents a 0.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $306,835.38. Following 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. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Daiwa Capital Markets cut Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price objective on the stock. in a research report on Wednesday. JPMorgan Chase & Co. decreased their price objective on Fortinet from $87.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Piper Sandler lowered their price objective on Fortinet from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Stifel Nicolaus reduced their target price on shares of Fortinet from $95.00 to $85.00 and set a “hold” rating on the stock in a research report on Thursday, August 7th. Finally, DZ Bank upgraded shares of Fortinet from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $91.62.

About Fortinet

Fortinet, Inc provides cybersecurity and convergence of networking and security solutions worldwide. It offers secure networking solutions focus on the convergence of networking and security; network firewall solutions that consist of FortiGate data centers, hyperscale, and distributed firewalls, as well as encrypted applications; wireless LAN solutions; and secure connectivity solutions, including FortiSwitch secure ethernet switches, FortiAP wireless local area network access points, FortiExtender 5G connectivity gateways, and other products.