LVM Capital Management Ltd. MI Has $8.21 Million Holdings in Fortinet, Inc. $FTNT

LVM Capital Management Ltd. MI lifted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 8.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 97,662 shares of the software maker’s stock after purchasing an additional 7,605 shares during the period. LVM Capital Management Ltd. MI’s holdings in Fortinet were worth $8,211,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of FTNT. Saudi Central Bank acquired a new position in Fortinet during the 1st quarter worth $25,000. LSV Asset Management bought a new stake in shares of Fortinet during the second quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Fortinet by 41.4% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 355 shares of the software maker’s stock worth $38,000 after acquiring an additional 104 shares during the last quarter. Quaker Wealth Management LLC lifted 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 valued at $38,000 after acquiring an additional 726 shares during the period. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Fortinet in the second quarter valued at about $40,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Analyst Upgrades and Downgrades

FTNT has been the subject of several recent research reports. Daiwa America cut Fortinet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Mizuho dropped their price target on shares of Fortinet from $75.00 to $72.00 and set an “underperform” rating for the company 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 price objective on the stock. in a research note on Wednesday, November 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $87.00 target price on shares of Fortinet in a research report on Monday, November 24th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $75.00 price target (down from $85.00) on shares of Fortinet in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $90.11.

Insider Activity

In other Fortinet news, VP Michael Xie sold 3,546 shares of the stock in a transaction dated Monday, November 3rd. The stock was 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 in the company, valued at $907,874,317.54. This represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ken Xie sold 158,485 shares of Fortinet stock in a transaction dated 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 transaction, the chief executive officer owned 51,391,879 shares in the company, valued at $4,445,911,452.29. This trade represents a 0.31% decrease in their position. The disclosure for this sale is available in the SEC filing. 17.20% of the stock is owned by corporate insiders.

Fortinet Trading Up 0.6%

FTNT opened at $80.24 on Friday. The firm’s fifty day moving average is $82.77 and its two-hundred day moving average is $88.67. The firm has a market cap of $59.67 billion, a PE ratio of 33.02, a price-to-earnings-growth ratio of 2.97 and a beta of 1.10. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $114.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.94 and a current ratio of 1.03.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.11. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The firm’s revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. Equities research analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current year.

About Fortinet

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.