Universal Beteiligungs und Servicegesellschaft mbH Grows Stock Position in Fortinet, Inc. $FTNT

Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Fortinet, Inc. (NASDAQ:FTNT) by 30.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,054,035 shares of the software maker’s stock after acquiring an additional 248,931 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned 0.14% of Fortinet worth $111,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in FTNT. Vanguard Group Inc. lifted its holdings in Fortinet by 5.2% in the first quarter. Vanguard Group Inc. now owns 71,662,404 shares of the software maker’s stock valued at $6,898,223,000 after acquiring an additional 3,546,934 shares during the last quarter. AQR Capital Management LLC grew its stake in Fortinet by 40.9% during the 1st quarter. AQR Capital Management LLC now owns 5,971,648 shares of the software maker’s stock worth $561,156,000 after purchasing an additional 1,733,670 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Fortinet during the first quarter worth approximately $153,576,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Fortinet by 17.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,016,467 shares of the software maker’s stock worth $675,405,000 after purchasing an additional 1,026,277 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. acquired a new position in shares of Fortinet during the 2nd quarter worth about $108,056,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Fortinet Stock Performance

FTNT opened at $82.31 on Friday. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $114.82. The stock has a market cap of $61.21 billion, a P/E ratio of 32.79, a P/E/G ratio of 3.17 and a beta of 1.08. The stock’s 50 day simple moving average is $83.63 and its 200 day simple moving average is $92.44. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.33 and a quick ratio of 1.24.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.11. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $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, equities analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Insider Activity

In other Fortinet news, 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 transaction of $13,710,537.35. Following the completion of the transaction, the chief executive officer owned 51,391,879 shares in the company, valued at approximately $4,445,911,452.29. The trade was a 0.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael Xie sold 3,546 shares of Fortinet stock in a transaction dated 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 of the company’s stock, valued at approximately $907,874,317.54. The trade was a 0.03% decrease in their position. The disclosure for this sale is available in the SEC filing. 17.20% of the stock is owned by insiders.

Analyst Ratings Changes

FTNT has been the subject of several research analyst reports. Wells Fargo & Company decreased their price objective on shares of Fortinet from $110.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, August 7th. Cowen cut shares of Fortinet from a “buy” rating to a “hold” rating in a research note on Thursday, August 7th. Robert W. Baird lowered their price objective on Fortinet from $90.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Morgan Stanley reissued an “underweight” rating and set a $67.00 target price (down from $78.00) on shares of Fortinet in a research note on Tuesday, September 2nd. Finally, Piper Sandler cut their price objective on Fortinet from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Fortinet currently has a consensus rating of “Hold” and an average price target of $91.62.

Fortinet Company 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.