fortinet (nasdaq: ftnt) is a worldwide provider of network security appliances and the market leader in unified threat management (utm). our products and subscription services provide broad, integrated and high-performance protection against dynamic security threats while simplifying the it security infrastructure. our customers include enterprises, service providers and government entities worldwide, including the majority of the 2010 fortune global 100. fortinet’s flagship fortigate product delivers asic-accelerated performance and integrates multiple layers of security designed to help protect against application and network threats. fortinet’s broad product line goes beyond utm to help secure the extended enterprise – from endpoints, to the perimeter and the core, including databases and applications. fortinet is headquartered in sunnyvale, calif., with offices around the world.
Company profile
Ticker
FTNT
Exchange
Website
CEO
Ken Xie
Employees
Location
Fiscal year end
Industry (SIC)
Xerox • Stratasys • Logitech International • Palo Alto Networks • Corsair Gaming • Forescout • Mandiant • Immersion • Markforged Holding • AstroNova ...
Former names
FORTINET INC
SEC CIK
Corporate docs
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
Latest filings (excl ownership)
SD
Conflict minerals disclosure
21 May 24
10-Q
2024 Q1
Quarterly report
6 May 24
8-K
Fortinet Reports First Quarter 2024 Financial Results
2 May 24
ARS
2023 FY
Annual report to shareholders
26 Apr 24
DEFA14A
Additional proxy soliciting materials
26 Apr 24
DEF 14A
Definitive proxy
26 Apr 24
10-K
2023 FY
Annual report
23 Feb 24
8-K
Tech Industry Leader and Boardroom Powerhouse Maggie Wilderotter Joins Fortinet Board of Directors
23 Feb 24
8-K
Fortinet Reports Fourth Quarter and Full Year 2023 Financial Results
6 Feb 24
8-K
Departure of Directors or Certain Officers
18 Jan 24
Transcripts
FTNT
Earnings call transcript
2024 Q1
2 May 24
FTNT
Earnings call transcript
2023 Q4
6 Feb 24
FTNT
Earnings call transcript
2023 Q3
2 Nov 23
FTNT
Earnings call transcript
2023 Q2
3 Aug 23
FTNT
Earnings call transcript
2023 Q2
3 Aug 23
FTNT
Earnings call transcript
2023 Q1
4 May 23
FTNT
Earnings call transcript
2022 Q4
7 Feb 23
FTNT
Earnings call transcript
2022 Q3
3 Nov 22
FTNT
Earnings call transcript
2022 Q2
4 Aug 22
FTNT
Earnings call transcript
2022 Q1
5 May 22
Latest ownership filings
4
Christiane Ohlgart
17 May 24
4
Mary Agnes Wilderotter
17 May 24
4
Ken Xie
16 May 24
144
Notice of proposed sale of securities
15 May 24
144
Notice of proposed sale of securities
14 May 24
144
Notice of proposed sale of securities
14 May 24
4
Keith Jensen
2 May 24
4
John Whittle
2 May 24
4
Ken Xie
2 May 24
4
Michael Xie
2 May 24
Financial summary
Quarter (USD) | Mar 24 | Dec 23 | Sep 23 | Jun 23 | |
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Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 23 | Dec 22 | Dec 21 | Dec 20 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
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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) | 1.93 bn | 1.93 bn | 1.93 bn | 1.93 bn | 1.93 bn | 1.93 bn |
Cash burn (monthly) | (no burn) | 31.49 mm | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | n/a | 65.00 mm | n/a | n/a | n/a | n/a |
Cash remaining | n/a | 1.86 bn | n/a | n/a | n/a | n/a |
Runway (months of cash) | n/a | 59.1 | n/a | n/a | n/a | n/a |
Institutional ownership, Q1 2024
64.6% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 1041 |
Opened positions | 320 |
Closed positions | 118 |
Increased positions | 302 |
Reduced positions | 296 |
13F shares | Current |
---|---|
Total value | 27.94 tn |
Total shares | 493.64 mm |
Total puts | 5.62 mm |
Total calls | 5.06 mm |
Total put/call ratio | 1.1 |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 68.05 mm | $4.65 tn |
BLK Blackrock | 55.23 mm | $3.77 tn |
T. Rowe Price | 35.14 mm | $2.40 bn |
STT State Street | 26.80 mm | $1.83 tn |
BK Bank Of New York Mellon | 18.05 mm | $1.23 tn |
Geode Capital Management | 14.43 mm | $983.36 bn |
Alliancebernstein | 13.63 mm | $930.93 bn |
Nordea Investment Management Ab | 8.80 mm | $599.30 bn |
MS Morgan Stanley | 8.51 mm | $581.63 bn |
Fundsmith | 8.17 mm | $558.43 bn |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
16 May 24 | Wilderotter Mary Agnes | RSU Common Stock | Grant | Acquire A | No | No | 0 | 550 | 0.00 | 550 |
16 May 24 | Christiane Ohlgart | RSU Common Stock | Grant | Acquire A | No | No | 0 | 10,955 | 0.00 | 10,955 |
15 May 24 | Ken Xie | Common Stock | Sell | Dispose S | No | Yes | 60.9045 | 24,230 | 1.48 mm | 48,725,052 |
15 May 24 | Ken Xie | Common Stock | Option exercise | Acquire M | No | No | 9.812 | 41,667 | 408.84 k | 48,749,282 |
15 May 24 | Ken Xie | Nonqualified Stock Option Common Stock | Option exercise | Dispose M | No | No | 9.812 | 41,667 | 408.84 k | 750,000 |
14 May 24 | Ken Xie | Common Stock | Sell | Dispose S | No | Yes | 60.357 | 3,901 | 235.45 k | 48,707,615 |
14 May 24 | Ken Xie | Common Stock | Sell | Dispose S | No | Yes | 59.9869 | 20,361 | 1.22 mm | 48,711,516 |
14 May 24 | Ken Xie | Common Stock | Option exercise | Acquire M | No | No | 9.812 | 41,667 | 408.84 k | 48,731,877 |
14 May 24 | Ken Xie | Nonqualified Stock Option Common Stock | Option exercise | Dispose M | No | No | 9.812 | 41,667 | 408.84 k | 791,667 |
2 May 24 | Michael Xie | Common Stock | Sell | Dispose S | No | Yes | 65.1927 | 2,676 | 174.46 k | 10,867,018 |
News
Wedbush Reiterates Outperform on Fortinet, Maintains $78 Price Target
22 May 24
(FTNT) - Analyzing Fortinet's Short Interest
8 May 24
Susquehanna Maintains Neutral on Fortinet, Lowers Price Target to $65
6 May 24
Scotiabank Maintains Sector Outperform on Fortinet, Lowers Price Target to $80
3 May 24
JP Morgan Maintains Neutral on Fortinet, Lowers Price Target to $63
3 May 24
Press releases
FC Barcelona Selects Fortinet as its Official Cybersecurity Partner for the Future Spotify Camp Nou
23 May 24
DGR Systems Achieves Top Fortinet Service Program Designation - EPSP
15 May 24
Fortinet Reaffirms Its Commitment to Secure Product Development Processes and Responsible Vulnerability Disclosure Policies
7 May 24
Fortinet Reports First Quarter 2024 Financial Results
2 May 24
Fortinet Named a Challenger in the 2024 Gartner® Magic Quadrant™ for Security Service Edge
18 Apr 24