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flag Fortinet, a leading cybersecurity firm, saw strong earnings despite stake reductions by major investors.

flag New York State Teachers Retirement System and Allspring Global Investments Holdings LLC have reduced their stakes in Fortinet, a cybersecurity and networking solutions provider, by selling shares. flag Despite these reductions, Fortinet reported strong quarterly earnings of $0.58 per share, beating analyst estimates, and has a market cap of $80.92 billion. flag The company's stock, however, has received a "hold" rating. flag Fortinet's insiders own 18% of the stock, and institutional investors own 83.71%.

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