4,075 Shares in Fortinet, Inc. $FTNT Acquired by Main Street Research LLC

Main Street Research LLC bought a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,075 shares of the software maker’s stock, valued at approximately $333,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Fortinet in the 4th quarter worth approximately $1,152,917,000. Van ECK Associates Corp raised its holdings in Fortinet by 38.9% during 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 during the period. AQR Capital Management LLC raised its holdings in Fortinet by 76.2% during 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 during the period. Invesco Ltd. lifted its holdings in Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after purchasing an additional 1,568,337 shares in the last quarter. Finally, Capital World Investors purchased a new position in shares of Fortinet in the fourth quarter worth $100,256,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FTNT. Weiss Ratings raised Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Truist Financial set a $120.00 price objective on Fortinet and gave the stock a “buy” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price objective on shares of Fortinet in a report on Thursday, May 7th. Morgan Stanley reiterated an “underweight” rating and set a $80.00 target price on shares of Fortinet in a research report on Thursday, May 7th. Finally, BMO Capital Markets boosted their price target on shares of Fortinet from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $107.58.

Fortinet Stock Up 4.5%

Shares of FTNT opened at $163.73 on Friday. The company has a market cap of $119.96 billion, a PE ratio of 63.22, a P/E/G ratio of 4.26 and a beta of 1.09. The business has a fifty day moving average of $136.31 and a 200 day moving average of $100.55. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $164.01. 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 posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the business posted $0.58 earnings per share. The business’s revenue was up 20.1% compared to the same quarter last year. 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, sell-side analysts expect that Fortinet, Inc. will post 2.8 EPS for the current year.

Insider Buying and Selling

In other Fortinet news, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the transaction, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total value of $23,384,806.56. Following the transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 318,387 shares of company stock valued at $43,403,063 in the last ninety days. 17.60% of the stock is owned by company insiders.

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.