Faithward Advisors LLC Has $490,000 Stake in Fortinet, Inc. $FTNT

Faithward Advisors LLC trimmed its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 89.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,174 shares of the software maker’s stock after selling 50,097 shares during the period. Faithward Advisors LLC’s holdings in Fortinet were worth $490,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in FTNT. Norges Bank acquired a new position in Fortinet during the fourth quarter worth $1,152,917,000. Vanguard Group Inc. increased its holdings in Fortinet by 4.0% during the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after buying an additional 2,894,355 shares during the last quarter. Van ECK Associates Corp increased its holdings in Fortinet by 38.9% during the fourth quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock worth $613,915,000 after buying an additional 2,166,396 shares during the last quarter. First Trust Advisors LP increased its holdings in Fortinet by 30.9% during the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock worth $636,962,000 after buying an additional 1,790,033 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Fortinet by 17.0% during the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after buying an additional 1,568,337 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet launched FortiSOC, a unified, cloud-delivered SOC platform powered by agentic AI, which could strengthen its cybersecurity product lineup and support future revenue growth. Fortinet Launches FortiSOC, a Unified SOC Platform Powered by Agentic AI
• Positive Sentiment: TD Cowen and Cantor Fitzgerald raised their price targets on Fortinet, citing strong security and AI growth prospects, which reinforces a bullish outlook for the stock. TD Cowen and Cantor Fitzgerald Increase Fortinet Price Targets
• Positive Sentiment: At its annual meeting, shareholders backed the board, auditor, and executive pay, reducing governance uncertainty and signaling continued investor support. Fortinet Shareholders Back Board, Auditor and Executive Pay
• Neutral Sentiment: Coverage on FTNT noted the stock underperformed competitors on Tuesday, but the article did not point to a new fundamental problem. Fortinet Inc. stock underperforms Tuesday when compared to competitors
• Neutral Sentiment: Trading-focused articles suggested bullish technical setups and an options strategy targeting upside, but these were largely commentary rather than fresh business news. Fortinet Stock: Aim For A 28% Return With This Strategy On The Cybersecurity Firm

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FTNT shares. Mizuho boosted their target price on shares of Fortinet from $70.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, May 7th. BTIG Research boosted their target price on shares of Fortinet from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. UBS Group 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 Thursday, May 7th. Stifel Nicolaus set a $85.00 price objective on shares of Fortinet in a research report on Wednesday, March 11th. Finally, Susquehanna lifted their price objective on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Fortinet currently has an average rating of “Hold” and a consensus price target of $107.77.

Insiders Place Their Bets

In other Fortinet news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction 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 completion of the transaction, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 directly owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 318,387 shares of company stock valued at $43,403,063 over the last ninety days. 17.60% of the stock is currently owned by company insiders.

Fortinet Trading Down 1.7%

FTNT stock opened at $147.02 on Wednesday. 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 company has a fifty day moving average price of $112.43 and a two-hundred day moving average price of $92.11. Fortinet, Inc. has a one year low of $70.12 and a one year high of $150.07. The stock has a market cap of $107.71 billion, a price-to-earnings ratio of 56.76, a price-to-earnings-growth ratio of 4.09 and a beta of 1.11.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the business posted $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. Equities analysts anticipate that Fortinet, Inc. will post 2.78 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.