Syon Capital LLC Acquires 3,861 Shares of Fortinet, Inc. $FTNT

Syon Capital LLC raised its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 59.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,336 shares of the software maker’s stock after purchasing an additional 3,861 shares during the period. Syon Capital LLC’s holdings in Fortinet were worth $821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in FTNT. Pinnacle Holdings LLC acquired a new stake in shares of Fortinet in the 3rd quarter valued at $25,000. Ameriflex Group Inc. acquired a new stake in shares of Fortinet in the 3rd quarter valued at $25,000. Wexford Capital LP acquired a new stake in shares of Fortinet in the 3rd quarter valued at $25,000. Elyxium Wealth LLC acquired a new stake in shares of Fortinet in the 4th quarter valued at $27,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Fortinet in the 3rd quarter valued at $28,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Down 3.3%

Shares of NASDAQ FTNT opened at $138.39 on Wednesday. The firm’s 50-day simple moving average is $106.04 and its 200 day simple moving average is $89.80. The company has a market cap of $101.39 billion, a price-to-earnings ratio of 53.43, a price-to-earnings-growth ratio of 3.92 and a beta of 1.11. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $150.07.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (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 the consensus estimate of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior 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 expect that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Michael Xie sold 3,907 shares of the company’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 transaction, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This represents a 0.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 318,387 shares of company stock worth $43,403,063 in the last 90 days. Corporate insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FTNT shares. DZ Bank downgraded shares of Fortinet from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research note on Tuesday, May 19th. Citigroup boosted their target price on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Compass Point set a $100.00 target price on shares of Fortinet in a research note on Monday, May 4th. Morgan Stanley restated an “underweight” rating and issued a $80.00 target price on shares of Fortinet in a research note on Thursday, May 7th. Finally, Truist Financial set a $120.00 target price on shares of Fortinet and gave the company a “buy” rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $106.43.

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.