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Fortinet (FTNT)

Company Profile

Company profile

Ticker

FTNT

Exchange

Website

www.fortinet.com

CEO

Mr. Ken Xie

Incorporated

Location

Fiscal year end

Sector

Technology Services > Custom Computer Programming Services

Industry (SIC)

Computer Peripheral Equipment, NEC

Xerox • Stratasys • Logitech International • Palo Alto Networks • Corsair Gaming • Forescout • Immersion • Mitek Systems • Mandiant • Mynd.ai ...

Former names

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SEC CIK

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Fortinet Australia Pty Ltd • Fortinet Austria GmbH • Fortinet Belgium BV • Fortinet Network Security Brasil LTDA • Fortinet Technologies (Canada) ULC • Holdings 1504 Enterprises Inc. • Holdings 1502 Enterprises Ltd. • Fortinet International, Inc. • Fortinet Information Technology (Beijing) Co., Ltd. • Accelops China Limited ...

IRS number

770560389

FTNT stock data

1M 3M 6M 1Y

Analyst ratings and price targets

Last 3 months

Average target

$98.73

Low target

$78.00

High target

$115.00

B of A Securities

Cantor Fitzgerald

Truist Securities

Latest filings (excl ownership)

View all

Fortinet Appoints Distinguished Public Sector Leader Janet Napolitano to its Board of Directors

Quarterly report

8 Nov 24

Fortinet Reports Third Quarter 2024 Financial Results

Departure of Directors or Certain Officers

Submission of Matters to a Vote of Security Holders

Conflict minerals disclosure

Quarterly report

6 May 24

Fortinet Reports First Quarter 2024 Financial Results

Annual report to shareholders

Additional proxy soliciting materials

Transcripts

View all

Earnings call transcript

Earnings call transcript

Earnings call transcript

Earnings call transcript

Earnings call transcript

Earnings call transcript

Earnings call transcript

Earnings call transcript

Earnings call transcript

Earnings call transcript

Latest ownership filings

View all

Notice of proposed sale of securities

Notice of proposed sale of securities

WILLIAM H. NEUKOM

Notice of proposed sale of securities

Janet Napolitano

Notice of proposed sale of securities

Financial summary

Financial statements Chart FTNT financial data

Quarter (USD)	Sep 24	Mar 24	Dec 23	Sep 23
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 23	Dec 22	Dec 21	Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	2.49 bn	2.49 bn	2.49 bn	2.49 bn	2.49 bn	2.49 bn
Cash burn (monthly)	(no burn)	(no burn)	(no burn)	(no burn)	20.80 mm	(no burn)
Cash used (since last report)	n/a	n/a	n/a	n/a	58.03 mm	n/a
Cash remaining	n/a	n/a	n/a	n/a	2.43 bn	n/a
Runway (months of cash)	n/a	n/a	n/a	n/a	116.9	n/a

Beta Read what these cash burn values mean

Financial data from Fortinet earnings reports.

Institutional ownership, Q2 2024

FTNT institutional ownership history Ownership history

65.9% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	1040	1003	+3.7%
Opened positions	167	145	+15.2%
Closed positions	130	178	-27.0%
Increased positions	382	351	+8.8%
Reduced positions	348	361	-3.6%

13F shares	Current	Prev Q	Change
Total value	26.13 tn	26.66 tn	-2.0%
Total shares	505.89 mm	474.59 mm	+6.6%
Total puts	5.56 mm	3.89 mm	+43.0%
Total calls	15.24 mm	3.07 mm	+396.2%
Total put/call ratio	0.4	1.3	-71.2%

Largest owners	Shares	Value	Change
Vanguard	66.87 mm	$4.03 tn	-1.7%
BLK BlackRock	55.24 mm	$3.33 tn	+0.0%
T. Rowe Price	28.99 mm	$1.75 bn	-17.5%
STT State Street	26.52 mm	$1.60 tn	-1.1%
BK The Bank of New York Mellon Corporation	17.89 mm	$1.08 tn	-0.9%
Geode Capital Management	14.53 mm	$873.76 bn	+0.7%
Fundsmith	10.29 mm	$619.92 bn	+25.8%
BCS Barclays	9.18 mm	$553.40 mm	+53.1%
Nordea Investment Management Ab	8.99 mm	$543.26 bn	+2.2%
MS Morgan Stanley	8.69 mm	$523.94 bn	+2.1%

Largest transactions	Shares	Bought/sold	Change
Alliancebernstein	932.06 k	-12.70 mm	-93.2%
Marshall Wace	6.24 mm	+6.24 mm	NEW
T. Rowe Price	28.99 mm	-6.15 mm	-17.5%
Ubs Global Asset Management Americas	5.25 mm	+5.25 mm	NEW
Jacobs Levy Equity Management	4.28 mm	+4.28 mm	NEW
BAC Bank of America	4.21 mm	+4.21 mm	NEW
Charles Schwab Investment Management	3.75 mm	+3.75 mm	NEW
BCS Barclays	9.18 mm	+3.19 mm	+53.1%
Two Sigma Advisers	6.98 mm	+3.03 mm	+76.7%
Van Eck Associates	5.76 mm	+2.80 mm	+94.9%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

FTNT insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
18 Dec 24	Ken Xie	Common Stock	Sell	Dispose S	No	Yes	98.3125	400	39.33 k	49,002,422
18 Dec 24	Ken Xie	Common Stock	Sell	Dispose S	No	Yes	97.5872	2,911	284.08 k	49,002,822
18 Dec 24	Ken Xie	Common Stock	Sell	Dispose S	No	Yes	96.3272	5,300	510.53 k	49,005,733
18 Dec 24	Ken Xie	Common Stock	Sell	Dispose S	No	Yes	95.5848	6,144	587.27 k	49,011,033
18 Dec 24	Ken Xie	Common Stock	Sell	Dispose S	No	Yes	94.44	3,552	335.45 k	49,017,177
18 Dec 24	Ken Xie	Common Stock	Sell	Dispose S	No	Yes	93.5271	4,621	432.19 k	49,020,729
18 Dec 24	Ken Xie	Common Stock	Option exercise	Acquire M	No	No	9.812	41,667	408.84 k	49,025,350
18 Dec 24	Ken Xie	Nonqualified Stock Option Common Stock	Option exercise	Dispose M	No	No	9.812	41,667	408.84 k	166,667
17 Dec 24	Ken Xie	Common Stock	Sell	Dispose S	No	Yes	99.2088	800	79.37 k	48,983,683
17 Dec 24	Ken Xie	Common Stock	Sell	Dispose S	No	Yes	98.4642	7,700	758.17 k	48,984,483

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

News

From Benzinga Pro

Jefferies Maintains Hold on Fortinet, Raises Price Target to $105

Jefferies analyst Joseph Gallo maintains Fortinet (NASDAQ:FTNT) with a Hold and raises the price target from $95 to $105.

Expert Outlook: Fortinet Through The Eyes Of 35 Analysts

Keybanc Upgrades Fortinet to Overweight, Announces $115 Price Target

Keybanc analyst Eric Heath upgrades Fortinet (NASDAQ:FTNT) from Sector Weight to Overweight and announces $115 price target.

Stifel Maintains Hold on Fortinet, Raises Price Target to $103

JP Morgan Maintains Neutral on Fortinet, Raises Price Target to $105

Press releases

From Benzinga Pro

Fortinet Achieves the Highest Possible "AAA" Rating on the Industry's Only Independent, Third-Party Security Service Edge Test

SUNNYVALE, Calif., Dec. 04, 2024 (GLOBE NEWSWIRE) -- News Summary Fortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced its Security

Fortinet Expands Global Presence with New Company-Owned Innovation Hub in Atlanta

ATLANTA, Nov. 15, 2024 (GLOBE NEWSWIRE) -- John Whittle, Chief Operating Officer at Fortinet "With our new space in Atlanta set to become one of our global Innovation Hubs, we'll be able to better serve our

Fortinet Reports Third Quarter 2024 Financial Results

Highlights Total revenue up 13% year over year; service revenue up 19% year over yearBillings1 and product revenue returns to growthStrong billings growth in Unified SASE and Security OperationsRecord GAAP operating

Securing the Future: How Post-Quantum Cryptography is Transforming Cybersecurity

CrowdStrike and Fortinet Deliver Industry-Leading Protection from Endpoint to Firewall

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