Fortinet, Inc. $FTNT Shares Sold by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH trimmed its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 21.3% in the third quarter, Holdings Channel reports. The fund owned 829,381 shares of the software maker’s stock after selling 224,654 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Fortinet were worth $69,734,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. LSV Asset Management acquired a new stake in shares of Fortinet during the second quarter worth $25,000. Financial Consulate Inc. purchased a new position in Fortinet during the 3rd quarter worth $25,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Fortinet in the 3rd quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of 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 acquiring an additional 104 shares in the last quarter. Finally, Quaker Wealth Management LLC increased its stake in shares of Fortinet by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock worth $38,000 after acquiring an additional 726 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Up 0.1%

FTNT opened at $75.46 on Wednesday. The firm has a market cap of $56.12 billion, a P/E ratio of 31.05, a PEG ratio of 2.63 and a beta of 1.07. The business’s fifty day simple moving average is $80.35 and its 200 day simple moving average is $84.76. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $114.82. 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 (NASDAQ:FTNT) last announced its earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.11. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the company posted $0.63 EPS. 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 anticipate that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FTNT shares. UBS Group reduced their price objective on shares of Fortinet from $90.00 to $80.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Daiwa Capital Markets lowered Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price objective on the stock. in a report on Wednesday, November 12th. TD Cowen reduced their target price on Fortinet from $105.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Fortinet in a report on Monday, December 29th. Finally, Mizuho lowered their price target on Fortinet from $75.00 to $72.00 and set an “underperform” rating on the stock in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-seven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Fortinet currently has an average rating of “Hold” and a consensus target price of $90.04.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 158,485 shares of the 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 of the company’s stock, valued at $4,445,911,452.29. This represents a 0.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Michael Xie sold 3,546 shares of Fortinet 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 completion of the sale, the vice president directly 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 disclosure for this sale is available in the SEC filing. 18.00% of the stock is currently owned by company insiders.

Fortinet 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.