NEOS Investment Management LLC Grows Stock Holdings in Fortinet, Inc. $FTNT

NEOS Investment Management LLC grew its position in Fortinet, Inc. (NASDAQ:FTNT) by 11.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 544,153 shares of the software maker’s stock after buying an additional 56,059 shares during the period. NEOS Investment Management LLC’s holdings in Fortinet were worth $83,593,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Physician Wealth Advisors Inc. raised its stake in shares of Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after acquiring an additional 245 shares in the last quarter. Dunhill Financial LLC purchased a new stake in Fortinet during the second quarter valued at approximately $25,000. Burk Holdings LLC acquired a new stake in Fortinet in the second quarter valued at approximately $25,000. Wexford Capital LP acquired a new stake in Fortinet in the third quarter valued at approximately $25,000. Finally, Elyxium Wealth LLC purchased a new position in Fortinet in the fourth quarter worth $27,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Trading Up 1.2%

NASDAQ FTNT opened at $156.36 on Friday. Fortinet, Inc. has a 12-month low of $73.55 and a 12-month high of $173.89. The company has a fifty day simple moving average of $158.78 and a two-hundred day simple moving average of $122.76. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The stock has a market cap of $114.72 billion, a P/E ratio of 55.06, a P/E/G ratio of 2.93 and a beta of 1.06.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the company earned $0.64 earnings per share. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, analysts forecast that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Insider Activity

In other news, VP Michael Xie sold 3,121 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.63, for a total value of $507,568.23. Following the transaction, the vice president directly owned 9,918,360 shares of the company’s stock, valued at approximately $1,613,022,886.80. This represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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, CEO Ken Xie sold 161,482 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at approximately $8,616,486,029.52. The trade was a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. 17.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FTNT shares. Truist Financial set a $183.00 price target on Fortinet and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Barclays set a $190.00 price objective on Fortinet and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Stifel Nicolaus set a $175.00 target price on Fortinet and gave the company a “hold” rating in a research report on Thursday, July 30th. BMO Capital Markets upped their target price on Fortinet from $170.00 to $185.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $163.00 price target on shares of Fortinet in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twenty have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $150.91.

About Fortinet

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.