Fortinet, Inc. $FTNT Shares Acquired by Prospera Financial Services Inc

Prospera Financial Services Inc raised its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 37.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,419 shares of the software maker’s stock after buying an additional 1,751 shares during the period. Prospera Financial Services Inc’s holdings in Fortinet were worth $679,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dover Advisors LLC increased its stake in shares of Fortinet by 1.0% during the second quarter. Dover Advisors LLC now owns 9,451 shares of the software maker’s stock valued at $999,000 after acquiring an additional 94 shares during the period. Balboa Wealth Partners boosted its stake in Fortinet by 4.3% during the 2nd quarter. Balboa Wealth Partners now owns 2,330 shares of the software maker’s stock valued at $246,000 after purchasing an additional 96 shares in the last quarter. Hemington Wealth Management boosted its stake in Fortinet by 13.2% during the 2nd quarter. Hemington Wealth Management now owns 851 shares of the software maker’s stock valued at $89,000 after purchasing an additional 99 shares in the last quarter. Peloton Wealth Strategists increased its position in shares of Fortinet by 2.4% during the 1st quarter. Peloton Wealth Strategists now owns 4,330 shares of the software maker’s stock valued at $417,000 after purchasing an additional 100 shares during the period. Finally, Trust Co. of Vermont raised its stake in shares of Fortinet by 3.6% in the 2nd quarter. Trust Co. of Vermont now owns 2,852 shares of the software maker’s stock worth $302,000 after buying an additional 100 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

Fortinet Stock Performance

Shares of FTNT opened at $81.03 on Friday. The company has a 50-day moving average of $83.56 and a two-hundred day moving average of $92.66. The stock has a market cap of $60.26 billion, a price-to-earnings ratio of 32.28, a PEG ratio of 3.17 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.33 and a quick ratio of 1.24. Fortinet, Inc. has a one year low of $70.12 and a one year high of $114.82.

Fortinet (NASDAQ:FTNT) last issued its quarterly 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 net margin of 30.60% and a return on equity of 111.46%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The firm’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. Q4 2025 guidance at 0.730-0.750 EPS. On average, equities research analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Rosenblatt Securities reaffirmed a “neutral” rating and set a $85.00 target price on shares of Fortinet in a research note on Thursday, November 6th. Daiwa Capital Markets lowered shares of Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price objective for the company. in a research report on Wednesday. Royal Bank Of Canada dropped their target price 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. JPMorgan Chase & Co. cut their target price on shares of Fortinet from $87.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Finally, Wells Fargo & Company reduced their target price on shares of Fortinet from $110.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $91.62.

Insider Buying and Selling at Fortinet

In other news, CEO Ken Xie sold 158,485 shares of Fortinet stock in a transaction 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 transaction, the chief executive officer 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Michael Xie sold 3,546 shares of the company’s stock in a transaction 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. 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. Company insiders own 17.20% of the company’s stock.

Fortinet Profile

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.