17,777 Shares in Fortinet, Inc. $FTNT Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC bought a new stake in Fortinet, Inc. (NASDAQ:FTNT) during the 2nd quarter, Holdings Channel.com reports. The fund bought 17,777 shares of the software maker’s stock, valued at approximately $2,731,000.

A number of other large investors have also added to or reduced their stakes in the company. Elevation Wealth Partners LLC boosted its holdings in shares of Fortinet by 53.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock valued at $33,000 after buying an additional 75 shares in the last quarter. Wexford Capital LP bought a new position in shares of Fortinet during the 3rd quarter worth approximately $25,000. Physician Wealth Advisors Inc. lifted its position in Fortinet by 408.3% during the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after acquiring an additional 245 shares during the last quarter. Palisade Asset Management LLC purchased a new stake in Fortinet during the third quarter valued at approximately $28,000. Finally, Elyxium Wealth LLC acquired a new stake in Fortinet in the fourth quarter valued at approximately $27,000. 83.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $185.00 price objective (up from $165.00) on shares of Fortinet in a research report on Thursday, July 30th. Stifel Nicolaus set a $175.00 target price on Fortinet and gave the stock a “hold” rating in a research note on Thursday, July 30th. Wolfe Research set a $175.00 target price on Fortinet in a research report on Thursday, July 30th. Finally, Rosenblatt Securities increased their price target on Fortinet from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $150.91.

Insider Buying and Selling

In other news, VP Michael Xie sold 3,907 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the transaction, the vice president directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 475,157 shares of company stock worth $69,480,964 in the last 90 days. Insiders own 17.60% of the company’s stock.

Fortinet Trading Down 2.6%

Shares of Fortinet stock opened at $155.85 on Tuesday. The firm’s 50 day simple moving average is $155.31 and its two-hundred day simple moving average is $115.83. The firm has a market capitalization of $114.35 billion, a price-to-earnings ratio of 54.88, a PEG ratio of 3.03 and a beta of 1.07. Fortinet, Inc. has a 12-month low of $73.55 and a 12-month high of $172.09. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.75 by $0.15. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Analysts predict that Fortinet, Inc. will post 3.05 EPS for the current year.

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.