Fortinet (NASDAQ:FTNT) VP Michael Xie Sells 3,907 Shares

Fortinet, Inc. (NASDAQ:FTNT) VP Michael Xie sold 3,907 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the transaction, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Xie also recently made the following trade(s):

• On Monday, May 4th, Michael Xie sold 2,478 shares of Fortinet stock. The shares were sold at an average price of $88.89, for a total value of $220,269.42.

Fortinet Trading Down 1.6%

NASDAQ FTNT opened at $146.48 on Thursday. The firm’s 50-day moving average is $100.87 and its two-hundred day moving average is $88.03. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $149.03. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. The stock has a market capitalization of $107.32 billion, a P/E ratio of 56.56, a PEG ratio of 4.10 and a beta of 1.11.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data 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. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the firm earned $0.58 earnings per share. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. 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, sell-side analysts anticipate that Fortinet, Inc. will post 2.77 earnings per share for the current year.

Hedge Funds Weigh In On Fortinet

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Fortinet by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after buying an additional 2,894,355 shares during the period. State Street Corp increased its position in Fortinet by 1.6% during the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after purchasing an additional 477,397 shares during the period. Norges Bank acquired a new position in Fortinet during the 4th quarter worth approximately $1,152,917,000. Bank of New York Mellon Corp increased its position in Fortinet by 6.6% during the 4th quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock worth $1,151,810,000 after purchasing an additional 893,190 shares during the period. Finally, First Trust Advisors LP increased its position in Fortinet by 45.5% during the 1st quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock worth $940,284,000 after purchasing an additional 3,598,487 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Freedom Capital cut shares of Fortinet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Mizuho lifted their target price on Fortinet from $70.00 to $86.00 and gave the stock an “underperform” rating in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 target price on shares of Fortinet in a research report on Thursday, May 7th. Truist Financial set a $120.00 target price on Fortinet and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Scotiabank lifted their target price on Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-four have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $102.69.

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.