Studio Investment Management LLC Purchases Shares of 6,974 Fortinet, Inc. $FTNT

Studio Investment Management LLC bought a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,974 shares of the software maker’s stock, valued at approximately $554,000.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Fortinet by 4.0% during the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after purchasing an additional 2,894,355 shares in the last quarter. State Street Corp lifted its position in shares of Fortinet by 1.6% during the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after purchasing an additional 477,397 shares in the last quarter. Invesco Ltd. lifted its position in shares of Fortinet by 17.0% during the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after purchasing an additional 1,568,337 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Fortinet by 30.9% during the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock worth $636,962,000 after purchasing an additional 1,790,033 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Fortinet by 12.9% during the fourth quarter. Legal & General Group Plc now owns 6,905,567 shares of the software maker’s stock worth $548,371,000 after purchasing an additional 790,117 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 5,355 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $88.90, for a total value of $476,059.50. Following the completion of the sale, the chief executive officer owned 52,978,004 shares of the company’s stock, valued at $4,709,744,555.60. This represents a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Xie sold 2,478 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $88.89, for a total transaction of $220,269.42. Following the completion of the sale, the vice president directly owned 9,927,517 shares of the company’s stock, valued at $882,456,986.13. The trade was a 0.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 153,848 shares of company stock worth $19,446,115. Insiders own 17.60% of the company’s stock.

Fortinet Stock Up 0.0%

Shares of NASDAQ:FTNT opened at $133.96 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $94.07 and a 200 day simple moving average of $85.58. The firm has a market cap of $98.15 billion, a PE ratio of 51.72, a price-to-earnings-growth ratio of 3.68 and a beta of 0.92. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $134.91.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The business’s revenue was up 20.1% compared to the same quarter last year. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. On average, equities research analysts anticipate that Fortinet, Inc. will post 2.77 EPS for the current fiscal year.

Analysts Set New Price Targets

FTNT has been the topic of a number of recent research reports. Royal Bank Of Canada reissued a “sector perform” rating and set a $107.00 target price (up from $90.00) on shares of Fortinet in a research report on Thursday, May 7th. JPMorgan Chase & Co. boosted their target price on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, May 7th. BMO Capital Markets boosted their target price on shares of Fortinet from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. Freedom Capital lowered shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Robert W. Baird set a $115.00 price target on shares of Fortinet in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $102.69.

Fortinet Company Profile

Fortinet, Inc (NASDAQ: FTNT) is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co‑founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia‑Pacific.

Fortinet’s product portfolio centers on network security appliances and software, with its FortiGate next‑generation firewalls and the FortiOS operating system forming a core platform.