Fortinet, Inc. $FTNT Shares Bought by CacheTech Inc.

CacheTech Inc. grew its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 72.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,189 shares of the software maker’s stock after buying an additional 3,873 shares during the quarter. CacheTech Inc.’s holdings in Fortinet were worth $751,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FTNT. Expressive Wealth LLC acquired a new position in shares of Fortinet in the 4th quarter worth approximately $646,000. Trilogy Capital Inc. raised its position in shares of Fortinet by 46.8% during the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock valued at $3,506,000 after acquiring an additional 14,076 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of Fortinet during the 4th quarter valued at approximately $10,422,000. Eurizon Capital SGR S.p.A. bought a new position in Fortinet during the fourth quarter worth $14,638,000. Finally, Thrivent Financial for Lutherans lifted its stake in Fortinet by 156.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock worth $31,009,000 after purchasing an additional 238,299 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Intel and Fortinet announced a collaboration to develop Fortinet’s next-generation Security Processor 6, with Fortinet becoming Intel Foundry’s first publicly named cybersecurity chip customer. The deal highlights demand for Fortinet’s hardware and could strengthen its supply chain and product roadmap. Intel (INTC) Lands Fortinet As First Named Cybersecurity Customer For Its Foundry
• Positive Sentiment: Wall Street analysts turned more constructive on Fortinet, with one upgrade and another raising the price target while maintaining a Hold rating. The revisions suggest confidence in Fortinet’s fundamentals, even if valuation remains a concern. This Fortinet Analyst Is No Longer Bearish; Here Are Top 4 Upgrades For Tuesday Fortinet Price Target Raised to $140 as Strong Fundamentals Clash With Stretch Valuation, Supporting a Hold Rating
• Neutral Sentiment: Cybersecurity stocks remain in favor as investors rotate away from some AI and semiconductor names, which supports Fortinet’s sector backdrop. Cybersecurity Stocks Are Holding Up as the AI Trade Starts to Crack (FTNT)
• Negative Sentiment: Despite the positive headlines, Fortinet is still seen as expensive by some analysts, and Morgan Stanley warned that lofty cybersecurity valuations could limit upside ahead of earnings. Cybersecurity Stocks’ Hefty Valuations Demand Caution Ahead of Earnings, Morgan Stanley Says

Analyst Upgrades and Downgrades

Several analysts have weighed in on FTNT shares. Scotiabank boosted their target price on shares of Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a research note on Thursday, May 7th. Robert W. Baird set a $120.00 price target on shares of Fortinet in a research report on Tuesday. Stephens set a $115.00 price target on shares of Fortinet and gave the company an “equal weight” rating in a report on Thursday, May 7th. Barclays lifted their price target on shares of Fortinet from $155.00 to $170.00 and gave the company an “equal weight” rating in a report on Monday, July 13th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $160.00 price objective on shares of Fortinet in a research report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-four have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Fortinet has an average rating of “Hold” and a consensus target price of $119.48.

Fortinet Price Performance

NASDAQ FTNT opened at $158.10 on Wednesday. The company has a 50-day moving average price of $146.08 and a two-hundred day moving average price of $105.08. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $170.35. The stock has a market cap of $115.83 billion, a price-to-earnings ratio of 61.04, a price-to-earnings-growth ratio of 4.36 and a beta of 1.09. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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. Analysts forecast that Fortinet, Inc. will post 2.8 EPS for the current year.

Insider Buying and Selling at Fortinet

In other Fortinet news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction on Thursday, May 21st. The stock was 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 $12,163,508.84. The trade was a 60.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. This trade represents a 0.30% 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 have sold 318,387 shares of company stock valued at $43,403,063 in the last quarter. Corporate insiders own 17.60% of the company’s stock.

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.