Fortinet, Inc. $FTNT Shares Acquired by Glen Eagle Advisors LLC

Glen Eagle Advisors LLC lifted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 15,481.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,581 shares of the software maker’s stock after purchasing an additional 15,481 shares during the quarter. Glen Eagle Advisors LLC’s holdings in Fortinet were worth $1,273,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of FTNT. Norges Bank purchased a new position in Fortinet in the 4th quarter valued at $1,152,917,000. Arrowstreet Capital Limited Partnership raised its position in Fortinet by 87.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock worth $788,682,000 after buying an additional 4,500,194 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Fortinet by 45.5% in the 1st quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock worth $940,284,000 after acquiring an additional 3,598,487 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Fortinet by 38.9% in the fourth quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock valued at $613,915,000 after acquiring an additional 2,166,396 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Fortinet by 76.2% in the fourth quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock valued at $326,297,000 after acquiring an additional 1,777,115 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Ken Xie sold 160,632 shares of the firm’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 completion of the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at $7,711,717,915.76. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 transaction, the vice president directly owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their position. 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 ninety days, insiders sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FTNT. Piper Sandler raised their price objective on shares of Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. HSBC downgraded Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 target price for the company. in a research note on Monday, June 29th. Scotiabank lifted their price target on Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a research note on Thursday, May 7th. Stephens set a $115.00 price objective on Fortinet and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 price objective on shares of Fortinet in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-four have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Fortinet presently has an average rating of “Hold” and a consensus price target of $123.61.

Fortinet Trading Up 0.0%

Shares of Fortinet stock opened at $152.38 on Tuesday. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $170.35. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The stock has a market cap of $111.64 billion, a PE ratio of 58.83, a price-to-earnings-growth ratio of 4.14 and a beta of 1.09. The company has a 50-day moving average of $148.53 and a two-hundred day moving average of $107.17.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.62 by $0.20. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.58 EPS. 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, research analysts anticipate that Fortinet, Inc. will post 2.8 EPS for the current fiscal year.

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.