WD Rutherford LLC Has $498,000 Position in Fortinet, Inc. $FTNT

WD Rutherford LLC cut its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 64.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,092 shares of the software maker’s stock after selling 11,059 shares during the quarter. WD Rutherford LLC’s holdings in Fortinet were worth $498,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Expressive Wealth LLC bought a new stake in Fortinet during the 4th quarter worth approximately $646,000. Trilogy Capital Inc. increased its holdings in Fortinet by 46.8% during the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock valued at $3,506,000 after purchasing an additional 14,076 shares in the last quarter. Leonteq Securities AG bought a new position in Fortinet in the 4th quarter valued at $10,422,000. Eurizon Capital SGR S.p.A. bought a new position in Fortinet in the 4th quarter valued at $14,638,000. Finally, Thrivent Financial for Lutherans boosted its stake in Fortinet by 156.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock worth $31,009,000 after purchasing an additional 238,299 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet was highlighted as a strong momentum stock by Zacks, reinforcing the idea that the shares are technically strong and attracting investor interest. Here’s Why Fortinet (FTNT) is a Strong Momentum Stock
• Positive Sentiment: Liquid Networx expanded Fortinet security offerings through AWS and Azure Marketplace, a sign of broader channel reach and potential incremental demand for Fortinet licensing and services. Liquid Networx Expands Fortinet Security Offerings via AWS and Azure Marketplace
• Positive Sentiment: Several recent articles pointed to Fortinet as a potentially top-performing AI/cybersecurity stock, with one noting Barclays raised its price target to $155, which can boost investor confidence. Fortinet (FTNT) Stock Could Be A Top Performer This Year Amid Cautious Guidance
• Neutral Sentiment: Fortinet was included in a list of the most profitable software stocks, which supports the company’s fundamental profile but is not a direct catalyst. 5 Most Profitable Software Stocks to Buy Right Now
• Neutral Sentiment: Bernstein’s Hold rating suggests mixed expectations, while a separate sell recommendation adds caution and may limit enthusiasm around the stock’s near-term upside. Fortinet (FTNT) Gets a Hold from Bernstein Fortinet (FTNT): New Sell Recommendation for This Technology Giant
• Negative Sentiment: Wall Street coverage remains somewhat divided, with cautious guidance still a theme in some commentary, which could temper gains if investors focus on valuation and growth concerns. Here are Tuesday’s Best Wall Street Analyst Research Calls

Fortinet Stock Up 3.5%

NASDAQ FTNT opened at $158.98 on Thursday. The stock has a market capitalization of $116.48 billion, a P/E ratio of 61.38, a price-to-earnings-growth ratio of 4.21 and a beta of 1.09. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $159.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The stock has a fifty day moving average of $127.45 and a 200-day moving average of $97.25.

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, beating the consensus estimate of $0.62 by $0.20. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 earnings per share. 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 forecast that Fortinet, Inc. will post 2.78 EPS for the current year.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the transaction, the vice president directly owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at $7,711,717,915.76. This trade represents a 0.30% 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. In the last three months, insiders sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FTNT has been the topic of several research analyst reports. UBS Group increased their target price on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Mizuho lifted their price target on Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, May 7th. Bank of America upped their price target on shares of Fortinet from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Rosenblatt Securities increased their price objective on shares of Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Zacks Research cut shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $107.58.

Fortinet 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.