Plato Investment Management Ltd Acquires Shares of 16,218 Fortinet, Inc. $FTNT

Plato Investment Management Ltd acquired a new position in Fortinet, Inc. (NASDAQ:FTNT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,218 shares of the software maker’s stock, valued at approximately $2,477,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FTNT. Elevation Wealth Partners LLC grew its holdings in Fortinet by 53.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after acquiring an additional 75 shares during the last quarter. Florida Financial Advisors LLC lifted its position in shares of Fortinet by 3.0% during the first quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock worth $309,000 after purchasing an additional 109 shares in the last quarter. Optimist Retirement Group LLC lifted its position in shares of Fortinet by 2.5% during the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock worth $398,000 after purchasing an additional 122 shares in the last quarter. PDS Planning Inc grew its stake in shares of Fortinet by 3.1% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock valued at $326,000 after purchasing an additional 123 shares during the last quarter. Finally, GW&K Investment Management LLC increased its holdings in shares of Fortinet by 31.4% in the fourth 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 in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Zacks Research upgraded shares of Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Robert W. Baird set a $165.00 price objective on Fortinet in a research report on Thursday, July 30th. Royal Bank Of Canada set a $185.00 target price on Fortinet and gave the company a “sector perform” rating in a research note on Thursday, July 30th. HC Wainwright restated a “buy” rating on shares of Fortinet in a research report on Thursday, July 30th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $175.00 price target (up from $110.00) on shares of Fortinet in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $150.91.

Fortinet Price Performance

Shares of Fortinet stock opened at $160.01 on Monday. Fortinet, Inc. has a 1 year low of $73.55 and a 1 year high of $172.09. The business has a 50-day moving average of $155.05 and a two-hundred day moving average of $115.31. The company has a market capitalization of $117.40 billion, a P/E ratio of 56.34, a price-to-earnings-growth ratio of 3.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19.

Fortinet (NASDAQ:FTNT) last released 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. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the business posted $0.64 EPS. Fortinet’s revenue for the quarter was up 25.6% on a year-over-year basis. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, equities analysts predict that Fortinet, Inc. will post 3.05 EPS for the current year.

Insider Buying and Selling at Fortinet

In related news, CEO Ken Xie sold 161,482 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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, COO John Whittle sold 146,015 shares of the business’s 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 sale, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 475,157 shares of company stock valued at $69,480,964. 17.60% of the stock is currently owned by corporate insiders.

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.