Wisconsin Wealth Advisors LLC Decreases Holdings in Fortinet, Inc. $FTNT

Wisconsin Wealth Advisors LLC reduced its stake in Fortinet, Inc. (NASDAQ:FTNT) by 38.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,996 shares of the software maker’s stock after selling 4,996 shares during the period. Wisconsin Wealth Advisors LLC’s holdings in Fortinet were worth $845,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Brighton Jones LLC boosted its holdings in Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after acquiring an additional 221 shares during the period. Bison Wealth LLC acquired a new stake in Fortinet during the 4th quarter valued at $585,000. Private Advisor Group LLC grew its holdings in Fortinet by 56.5% during the 1st quarter. Private Advisor Group LLC now owns 36,474 shares of the software maker’s stock valued at $3,511,000 after purchasing an additional 13,162 shares in the last quarter. Kestra Private Wealth Services LLC increased its stake in Fortinet by 8.9% during the 1st quarter. Kestra Private Wealth Services LLC now owns 15,199 shares of the software maker’s stock worth $1,463,000 after buying an additional 1,246 shares during the period. Finally, J.W. Cole Advisors Inc. increased its stake in Fortinet by 34.6% during the 1st quarter. J.W. Cole Advisors Inc. now owns 14,581 shares of the software maker’s stock worth $1,404,000 after buying an additional 3,751 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

FTNT has been the subject of several research analyst reports. Erste Group Bank downgraded shares of Fortinet from a “buy” rating to a “hold” rating in a research report on Thursday, August 14th. Robert W. Baird cut their price objective on Fortinet from $90.00 to $86.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Piper Sandler decreased their target price on Fortinet from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Citigroup downgraded shares of Fortinet from a “neutral” rating to a “mixed” rating in a report on Monday, October 20th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $85.00 price target on shares of Fortinet in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Fortinet presently has an average rating of “Hold” and an average price target of $91.22.

Fortinet Trading Up 0.7%

Shares of NASDAQ:FTNT opened at $80.30 on Thursday. The firm has a market cap of $59.72 billion, a P/E ratio of 32.00, a P/E/G ratio of 3.17 and a beta of 1.08. The company has a current ratio of 1.33, a quick ratio of 1.24 and a debt-to-equity ratio of 0.24. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $114.82. The company has a 50 day moving average of $83.68 and a 200-day moving average of $91.93.

Fortinet (NASDAQ:FTNT) last released its 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 firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. Fortinet had a return on equity of 111.46% and a net margin of 30.60%.Fortinet’s revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 earnings per share. 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, analysts anticipate that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 158,485 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were 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 owned 51,391,879 shares in the company, valued at approximately $4,445,911,452.29. This represents a 0.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael Xie sold 3,546 shares of Fortinet stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $86.53, for a total transaction of $306,835.38. Following the transaction, the vice president 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 disclosure for this sale is available in the SEC filing. 18.00% of the stock is currently owned by corporate insiders.

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.