159,052 Shares in Fortinet, Inc. $FTNT Acquired by Peak Asset Management LLC

Peak Asset Management LLC bought a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 159,052 shares of the software maker’s stock, valued at approximately $24,434,000. Fortinet accounts for about 3.6% of Peak Asset Management LLC’s investment portfolio, making the stock its 10th biggest holding.

A number of other institutional investors also recently modified their holdings of the company. Elevation Wealth Partners LLC raised its stake in Fortinet by 53.6% during the second quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after buying an additional 75 shares during the last quarter. Florida Financial Advisors LLC grew its holdings in Fortinet by 3.0% during the 1st quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock worth $309,000 after acquiring an additional 109 shares during the period. Optimist Retirement Group LLC raised its position in shares of Fortinet by 2.5% in the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock worth $398,000 after acquiring an additional 122 shares in the last quarter. GW&K Investment Management LLC lifted its stake in shares of Fortinet by 31.4% in the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock valued at $41,000 after purchasing an additional 123 shares during the period. Finally, Delta Investment Management LLC boosted its position in shares of Fortinet by 2.4% during the 4th quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock valued at $417,000 after purchasing an additional 125 shares in the last quarter. 83.71% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Ken Xie sold 161,482 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at $8,616,486,029.52. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction on Wednesday, June 3rd. The stock was 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. This trade represents a 0.04% decrease in their ownership of the stock. 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 90 days, insiders have sold 329,142 shares of company stock worth $50,731,178. 17.60% of the stock is owned by corporate insiders.

Fortinet Price Performance

FTNT stock opened at $151.99 on Tuesday. The company has a market capitalization of $111.52 billion, a P/E ratio of 53.52, a price-to-earnings-growth ratio of 2.91 and a beta of 1.07. Fortinet, Inc. has a 52-week low of $73.55 and a 52-week high of $172.09. The business has a 50-day simple moving average of $156.29 and a two-hundred day simple moving average of $118.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. BTIG Research lifted their target price on Fortinet from $186.00 to $203.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. HSBC downgraded shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 target price on the stock. in a research report on Monday, June 29th. Wells Fargo & Company set a $135.00 price target on shares of Fortinet and gave the company an “underweight” rating in a research note on Thursday, July 30th. Mizuho set a $125.00 price objective on shares of Fortinet and gave the stock an “underperform” rating in a research report on Wednesday, July 15th. Finally, Wall Street Zen upgraded Fortinet from a “hold” rating to a “buy” rating in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $150.91.

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.