Main Street Research LLC Takes $333,000 Position in Fortinet, Inc. $FTNT

Main Street Research LLC purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the first quarter, Holdings Channel reports. The firm purchased 4,075 shares of the software maker’s stock, valued at approximately $333,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Optimist Retirement Group LLC raised its position in Fortinet by 2.5% during the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock valued at $398,000 after purchasing an additional 122 shares in the last quarter. PDS Planning Inc lifted its holdings in shares of Fortinet by 3.1% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock worth $326,000 after buying an additional 123 shares during the period. GW&K Investment Management LLC grew its position in shares of Fortinet by 31.4% during the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock worth $41,000 after buying an additional 123 shares in the last quarter. Delta Investment Management LLC increased its stake in shares of Fortinet by 2.4% during the fourth quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock valued at $417,000 after buying an additional 125 shares during the period. Finally, Personal CFO Solutions LLC raised its holdings in shares of Fortinet by 5.0% in the first quarter. Personal CFO Solutions LLC now owns 2,670 shares of the software maker’s stock valued at $218,000 after acquiring an additional 127 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Trading Up 4.5%

NASDAQ FTNT opened at $163.73 on Friday. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $164.01. The company has a 50 day moving average price of $136.31 and a 200 day moving average price of $100.55. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The firm has a market cap of $119.96 billion, a PE ratio of 63.22, a price-to-earnings-growth ratio of 4.26 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. Fortinet’s revenue was up 20.1% compared to the same quarter last year. During the same period last 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. As a group, sell-side analysts forecast that Fortinet, Inc. will post 2.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FTNT. Rosenblatt Securities increased their target price on shares of Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. TD Cowen reaffirmed a “buy” rating and issued a $160.00 price target (up from $125.00) on shares of Fortinet in a research report on Monday, June 8th. Stephens set a $115.00 price objective on shares of Fortinet and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Cantor Fitzgerald restated a “neutral” rating and set a $87.00 target price on shares of Fortinet in a report on Tuesday, April 21st. Finally, Zacks Research cut Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. One equities research 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 issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $107.58.

Insider Buying and Selling

In other Fortinet news, COO John Whittle sold 146,015 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction 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 sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. 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 sold 318,387 shares of company stock worth $43,403,063 in the last three months. Corporate insiders own 17.60% of the company’s stock.

About Fortinet

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.