Vanguard Personalized Indexing Management LLC Sells 13,568 Shares of Fortinet, Inc. $FTNT

Vanguard Personalized Indexing Management LLC cut its position in Fortinet, Inc. (NASDAQ:FTNT) by 11.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,792 shares of the software maker’s stock after selling 13,568 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Fortinet were worth $8,979,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FTNT. Norges Bank purchased a new stake in Fortinet during the second quarter valued at about $1,640,900,000. Vanguard Group Inc. lifted its stake in shares of Fortinet by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 72,686,920 shares of the software maker’s stock valued at $7,684,461,000 after buying an additional 1,024,516 shares in the last quarter. Montrusco Bolton Investments Inc. purchased a new stake in shares of Fortinet in the second quarter worth about $108,056,000. State Street Corp lifted its position in Fortinet by 3.0% during the second quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock valued at $3,085,244,000 after purchasing an additional 862,468 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Fortinet by 5.2% during the second quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock valued at $1,783,091,000 after purchasing an additional 828,569 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Activity

In other news, VP Michael Xie sold 3,546 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $86.53, for a total value 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. This represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ken Xie sold 158,485 shares of the firm’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 transaction of $13,710,537.35. Following the sale, the chief executive officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. 18.00% of the stock is currently owned by insiders.

Fortinet Price Performance

Shares of Fortinet stock opened at $83.07 on Tuesday. The business has a 50 day moving average of $80.16 and a 200 day moving average of $84.03. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $114.82. The company has a market cap 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 (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 EPS for the quarter, beating the consensus estimate 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%.The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. 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 forecast that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on FTNT. Mizuho reduced their target price on shares of Fortinet from $75.00 to $72.00 and set an “underperform” rating on the stock in a report on Thursday, November 6th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $75.00 price objective (down previously from $85.00) on shares of Fortinet in a report on Wednesday, December 17th. Oppenheimer restated a “market perform” rating on shares of Fortinet in a report on Friday. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Fortinet in a research note on Thursday, November 6th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 price objective on shares of Fortinet in a research note on Monday, November 24th. One investment 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 MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $90.04.

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.