Meitav Investment House Ltd. Purchases Shares of 14,950 Fortinet, Inc. $FTNT

Meitav Investment House Ltd. purchased a new position in Fortinet, Inc. (NASDAQ:FTNT) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 14,950 shares of the software maker’s stock, valued at approximately $1,222,000.

A number of other large investors have also modified their holdings of the business. State Street Corp boosted its stake in Fortinet by 1.6% in the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after purchasing an additional 477,397 shares in the last quarter. Norges Bank acquired a new position in Fortinet during the 4th quarter valued at approximately $1,152,917,000. Bank of New York Mellon Corp increased its stake in Fortinet by 6.6% during the 4th quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock valued at $1,151,810,000 after purchasing an additional 893,190 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Fortinet by 17.0% in the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after buying an additional 1,568,337 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Fortinet by 4.4% in the fourth quarter. First Trust Advisors LP now owns 7,907,686 shares of the software maker’s stock worth $627,949,000 after buying an additional 332,024 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FTNT shares. DZ Bank lowered shares of Fortinet from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a report on Tuesday, May 19th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 price target on shares of Fortinet in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 price target on shares of Fortinet in a research note on Thursday, May 7th. Wells Fargo & Company reissued an “underweight” rating and issued a $70.00 price objective (up from $64.00) on shares of Fortinet in a report on Thursday, May 7th. Finally, Susquehanna raised their price objective on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $107.58.

Insider Activity at Fortinet

In related news, COO John Whittle sold 146,015 shares of the 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 sale, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the sale, the vice president owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This 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. Insiders sold a total of 318,387 shares of company stock worth $43,403,063 in the last three months. Company insiders own 17.60% of the company’s stock.

Fortinet Stock Down 2.3%

Fortinet stock opened at $158.67 on Wednesday. The firm has a market cap of $116.25 billion, a price-to-earnings ratio of 61.26, a price-to-earnings-growth ratio of 4.44 and a beta of 1.09. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $163.57. The business’s 50-day moving average price is $133.33 and its 200 day moving average price is $99.42. 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 (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the company posted $0.58 earnings per share. Fortinet’s revenue for the quarter was up 20.1% on a year-over-year basis. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, sell-side analysts anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet has rallied more than 104% over the past six months, with much of the upside tied to its strong fiscal Q1 2026 results and the market’s growing enthusiasm for the company’s AI/cybersecurity opportunity. Fortinet (FTNT) Gains More Than 104% in 6 Months, Can It Go Higher?
• Positive Sentiment: One article argues Fortinet’s surge was driven by more than headline financials, pointing to a new customer-management trend and an AI-related growth story that may have been underestimated by Wall Street. What Fortinet Stock Was Telling Wall Street About AI Before It Doubled
• Neutral Sentiment: Fortinet also hit a new 1-year high, reinforcing that momentum remains strong even after the recent move lower. Fortinet (NASDAQ:FTNT) Hits New 1-Year High – Here’s What Happened
• Negative Sentiment: In the latest session, Fortinet fell more than the broader market, suggesting some investors may be taking profits after the stock’s strong run. Fortinet (FTNT) Falls More Steeply Than Broader Market: What Investors Need to Know

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.