<div id="readability-page-1"><p>Cwm LLC lifted its holdings in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 41.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,270 shares of the software maker's stock after purchasing an additional 11,581 shares during the quarter. Cwm LLC's holdings in Fortinet were worth $2,367,000 as of its most recent filing with the SEC.</p><ul><li>Cybersecurity Stock Surges, Promising Double-Digit Gains</li></ul><p>A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Winthrop Capital Management LLC acquired a new stake in shares of Fortinet in the 1st quarter worth approximately $25,000. Rise Advisors LLC boosted its stake in Fortinet by 135.6% during the 1st quarter. Rise Advisors LLC now owns 377 shares of the software maker's stock valued at $26,000 after purchasing an additional 217 shares in the last quarter. Vima LLC acquired a new position in shares of Fortinet during the 4th quarter valued at $25,000. Creekmur Asset Management LLC bought a new stake in shares of Fortinet in the 4th quarter worth $32,000. Finally, American National Bank lifted its holdings in shares of Fortinet by 443.6% in the fourth quarter. American National Bank now owns 598 shares of the software maker's stock valued at $35,000 after buying an additional 488 shares during the period. 83.71% of the stock is currently owned by institutional investors. </p><h2>Fortinet Stock Down 0.6 %</h2><p>Shares of NASDAQ:FTNT traded down $0.42 on Thursday, reaching $69.51. The company had a trading volume of 4,223,890 shares, compared to its average volume of 5,873,315. The stock has a market capitalization of $53.10 billion, a P/E ratio of 45.37, a P/E/G ratio of 2.79 and a beta of 0.98. The stock has a 50-day moving average price of $59.17 and a 200 day moving average price of $63.66. Fortinet, Inc. has a twelve month low of $44.12 and a twelve month high of $73.91. </p><br/><ul><li>Is CrowdStrike Stock a Hidden Gem After the Recent Selloff?</li></ul><p>Fortinet (NASDAQ:FTNT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The software maker reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.16. Fortinet had a net margin of 22.23% and a negative return on equity of 2,235.48%. The business had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same period in the previous year, the company earned $0.31 earnings per share. Fortinet's revenue for the quarter was up 10.9% on a year-over-year basis. On average, sell-side analysts predict that Fortinet, Inc. will post 1.47 earnings per share for the current fiscal year. </p><h2>Insider Buying and Selling</h2><p>In other Fortinet news, VP Michael Xie sold 24,712 shares of the firm's stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $56.11, for a total value of $1,386,590.32. Following the completion of the sale, the vice president now owns 10,847,018 shares in the company, valued at approximately $608,626,179.98. The sale was disclosed in a filing with the Securities &amp; Exchange Commission, which is available through this hyperlink. In related news, VP Michael Xie sold 24,712 shares of the company's stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $56.11, for a total value of $1,386,590.32. Following the sale, the vice president now owns 10,847,018 shares of the company's stock, valued at $608,626,179.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ken Xie sold 24,267 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $60.01, for a total value of $1,456,262.67. Following the completion of the transaction, the chief executive officer now directly owns 48,777,294 shares of the company's stock, valued at $2,927,125,412.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,915 shares of company stock valued at $5,401,638. 18.00% of the stock is owned by company insiders. </p><h2>Analyst Upgrades and Downgrades</h2><ul><li>This Cybersecurity Stock Gains Analysts' Favor for Strong Growth</li></ul><p>FTNT has been the topic of a number of research analyst reports. Evercore ISI lowered their target price on Fortinet from $72.00 to $67.00 and set an &#34;in-line&#34; rating on the stock in a report on Friday, May 3rd. Wedbush reissued an &#34;outperform&#34; rating and set a $78.00 target price on shares of Fortinet in a research note on Wednesday. Needham &amp; Company LLC reaffirmed a &#34;hold&#34; rating on shares of Fortinet in a report on Wednesday. Scotiabank boosted their target price on Fortinet from $61.00 to $75.00 and gave the stock a &#34;sector outperform&#34; rating in a research report on Wednesday. Finally, UBS Group upped their target price on Fortinet from $69.00 to $70.00 and gave the company a &#34;neutral&#34; rating in a report on Wednesday. Twenty-four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of &#34;Hold&#34; and an average target price of $71.31.</p><p><b>Read Our Latest Report on FTNT</b></p><h2>About Fortinet</h2> (Free Report)<p>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.</p><h2>Featured Articles</h2><ul><li>Five stocks we like better than Fortinet</li><li>How to Invest in Blue Chip Stocks</li><li>Owens-Corning Stock: Good Value or Recession Red Flag?</li><li>Why Special Dividends Can be a Delightful Surprise for Income Investors</li><li>Datadog Exceeds Q2 Expectations, Solidifies Market Leadership</li><li>Stocks with Unusual Volume: How to Find Unusual Volume Stocks in Real Time</li><li>Cybersecurity Stock Surges, Promising Double-Digit Gains</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9RlROVA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9RlROVA"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. 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FTNT

<p>Cwm LLC increased its holdings in Fortinet, Inc. during the second quarter, according to a recent disclosure with the SEC. Other institutional investors have also modified their holdings. Fortinet's stock price has fluctuated, currently trading at $69.51. The company reported strong earnings for the quarter, exceeding analysts' estimates. Insiders have sold a significant amount of company stock. Various analysts have provided research reports on Fortinet, with mixed ratings. The information falls into various categories, including business-related information, corporate finance-related information, and stock price rise and fall information.</p>

Fortinet, Inc. (NASDAQ:FTNT) Shares Purchased by Cwm LLC