Shelton Wealth Management LLC Purchases Shares of 10,455 Fortinet, Inc. $FTNT

Shelton Wealth Management LLC purchased a new position in Fortinet, Inc. (NASDAQ:FTNT) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,455 shares of the software maker’s stock, valued at approximately $854,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriflex Group Inc. purchased a new stake in shares of Fortinet in the third quarter worth about $25,000. Physician Wealth Advisors Inc. increased its stake in Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after acquiring an additional 245 shares during the last quarter. Wexford Capital LP bought a new stake in Fortinet in the 3rd quarter worth approximately $25,000. Elyxium Wealth LLC purchased a new stake in shares of Fortinet during the 4th quarter worth approximately $27,000. Finally, Palisade Asset Management LLC bought a new position in shares of Fortinet during the 3rd quarter valued at approximately $28,000. Institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barclays set a $155.00 target price on shares of Fortinet and gave the company an “equal weight” rating in a report on Friday, June 12th. Piper Sandler lifted their price objective on shares of Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Susquehanna boosted their target price on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 target price on shares of Fortinet in a research report on Thursday, May 7th. Finally, Zacks Research downgraded shares of Fortinet from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $107.58.

Fortinet Trading Down 1.1%

FTNT stock traded down $1.87 during midday trading on Tuesday, reaching $160.48. The company’s stock had a trading volume of 1,806,726 shares, compared to its average volume of 6,552,497. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $163.57. The firm has a market capitalization of $117.58 billion, a price-to-earnings ratio of 61.91, a PEG ratio of 4.28 and a beta of 1.09. The stock has a fifty day simple moving average of $131.84 and a two-hundred day simple moving average of $98.86. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business’s revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm earned $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 predict that Fortinet, Inc. will post 2.78 EPS for the current year.

Insider Transactions at Fortinet

In other Fortinet news, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the completion of the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the business’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 completion of the sale, the vice president owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This represents a 0.04% 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. Over the last three months, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by company insiders.

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.