Accurate Wealth Management LLC Decreases Stake in Fortinet, Inc. $FTNT

Core Insights - Fortinet has seen significant changes in institutional investor positions, with several firms increasing their stakes during the third quarter of the year [1] - The company reported strong earnings, exceeding analyst expectations, with a revenue increase of 14.4% year-over-year [4] - Analyst ratings have been mixed, with several firms lowering their price targets and ratings for Fortinet [5][7] Institutional Investor Activity - Masso Torrence Wealth Management Inc. increased its holdings by 9.0%, now owning 6,332 shares valued at $532,000 after acquiring 522 additional shares [1] - Calamos Wealth Management LLC purchased a new position valued at approximately $429,000 [1] - Brendel Financial Advisors LLC raised its stake by 18.7%, now holding 3,212 shares worth $270,000 after acquiring 506 shares [1] - Investment Partners Asset Management Inc. increased its stake by 20.9%, owning 5,079 shares valued at $427,000 after acquiring 877 shares [1] - Diversified Trust Co boosted its holdings by 13.3%, now owning 25,283 shares worth $2,126,000 after purchasing 2,959 shares [1] - Hedge funds and institutional investors collectively own 83.71% of Fortinet's stock [1] Insider Transactions - VP Michael Xie sold 3,546 shares at an average price of $86.53, totaling $306,835.38, resulting in a 0.03% decrease in his position [2] - CEO Ken Xie sold 158,485 shares at an average price of $86.51, totaling $13,710,537.35, leading to a 0.31% decrease in his position [2] - Company insiders currently own 17.20% of the stock [2] Stock Performance - Fortinet's stock opened at $79.41, with a 12-month low of $70.12 and a high of $114.82 [3] - The company has a market capitalization of $59.05 billion, a P/E ratio of 32.68, and a P/E/G ratio of 2.96 [3] - Current ratios are 1.03, quick ratios are 0.94, and the debt-to-equity ratio is 0.68 [3] - The fifty-day simple moving average is $82.17, and the two-hundred-day simple moving average is $87.32 [3] Earnings Results - Fortinet reported earnings of $0.74 per share, surpassing the consensus estimate of $0.63 by $0.11 [4] - The company achieved a net margin of 28.58% and a return on equity of 118.27% [4] - Revenue for the quarter was $1.72 billion, exceeding the consensus estimate of $1.70 billion, with a year-over-year revenue increase of 14.4% [4] - Guidance for FY 2025 is set at 2.660-2.700 EPS, with Q4 2025 guidance at 0.730-0.750 EPS [4] Analyst Ratings - Daiwa Capital Markets downgraded Fortinet from "outperform" to "neutral" with a price target of $86.00 [5] - Robert W. Baird reduced their target price from $90.00 to $86.00, maintaining a "neutral" rating [5] - TD Cowen lowered their price target from $105.00 to $100.00, setting a "hold" rating [5] - Jefferies Financial Group decreased their price objective from $85.00 to $80.00, also rating it as a "hold" [5] - Citigroup downgraded the stock from "neutral" to "mixed" [5] - The consensus rating for Fortinet is currently "Hold" with a target price of $90.11 [7]