Independent Advisor Alliance Has $2.01 Million Stock Holdings in Fortinet, Inc. $FTNT

Independent Advisor Alliance reduced its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 33.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,862 shares of the software maker’s stock after selling 11,950 shares during the period. Independent Advisor Alliance’s holdings in Fortinet were worth $2,006,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. LSV Asset Management acquired a new stake in Fortinet during the second quarter valued at approximately $25,000. Financial Consulate Inc. bought a new position in shares of Fortinet during the 3rd quarter worth approximately $25,000. Steigerwald Gordon & Koch Inc. acquired a new stake in Fortinet in the 3rd quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Fortinet by 41.4% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 355 shares of the software maker’s stock valued at $38,000 after buying an additional 104 shares in the last quarter. Finally, Quaker Wealth Management LLC grew its position in Fortinet by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock valued at $38,000 after acquiring an additional 726 shares during the period. Institutional investors own 83.71% of the company’s stock.

Analyst Upgrades and Downgrades

FTNT has been the subject of a number of analyst reports. Oppenheimer reissued a “market perform” rating on shares of Fortinet in a report on Friday, January 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 price target on shares of Fortinet in a report on Monday, November 24th. Royal Bank Of Canada decreased their price objective on shares of Fortinet from $95.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 6th. Daiwa Capital Markets cut shares of Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 target price for the company. in a research note on Wednesday, November 12th. Finally, Robert W. Baird reduced their target price on Fortinet from $90.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $90.48.

Fortinet Trading Up 0.0%

Shares of NASDAQ FTNT opened at $81.29 on Tuesday. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $114.82. The company has a 50-day moving average of $80.39 and a two-hundred day moving average of $83.27. The company has a market cap of $60.45 billion, a PE ratio of 33.45, a P/E/G ratio of 2.82 and a beta of 1.07. The company has a current ratio of 1.03, a quick ratio of 0.94 and a debt-to-equity ratio of 0.68.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 earnings per share for the quarter, topping 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 analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the company posted $0.63 EPS. Fortinet’s revenue 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 analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

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.