Fortinet (NASDAQ:FTNT) Sets New 1-Year High – Here’s What Happened

Fortinet, Inc. (NASDAQ:FTNT)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $150.88 and last traded at $151.1770, with a volume of 1384399 shares changing hands. The stock had previously closed at $145.28.

Analyst Ratings Changes

A number of brokerages recently weighed in on FTNT. BTIG Research upped their target price on shares of Fortinet from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Barclays set a $155.00 price target on shares of Fortinet and gave the stock an “equal weight” rating in a research note on Friday, June 12th. Mizuho increased their price objective on shares of Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, May 7th. TD Cowen restated a “buy” rating and set a $160.00 price objective (up from $125.00) on shares of Fortinet in a research report on Monday, June 8th. Finally, Compass Point set a $100.00 target price on Fortinet in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-five have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Fortinet currently has an average rating of “Hold” and a consensus price target of $107.77.

Fortinet Price Performance

The company has a market cap of $109.42 billion, a P/E ratio of 57.73, a PEG ratio of 4.05 and a beta of 1.11. The firm’s 50-day moving average is $120.17 and its two-hundred day moving average is $94.77. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate 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 last year, the business earned $0.58 earnings per share. Fortinet’s quarterly 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. Analysts anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Insider Buying and Selling at Fortinet

In other news, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 318,387 shares of company stock worth $43,403,063 over the last ninety days. Company insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FTNT. Norges Bank bought a new stake in shares of Fortinet in the 4th quarter worth about $1,152,917,000. Arrowstreet Capital Limited Partnership grew its holdings in Fortinet by 87.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock valued at $788,682,000 after purchasing an additional 4,500,194 shares during the last quarter. First Trust Advisors LP grew its holdings in Fortinet by 45.5% during the 1st quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock valued at $940,284,000 after purchasing an additional 3,598,487 shares during the last quarter. Van ECK Associates Corp raised its position in Fortinet by 38.9% in the 4th quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock worth $613,915,000 after purchasing an additional 2,166,396 shares during the period. Finally, AQR Capital Management LLC raised its position in Fortinet by 76.2% in the 4th quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock worth $326,297,000 after purchasing an additional 1,777,115 shares during the period. Institutional investors own 83.71% of the company’s stock.

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.