LGT Fund Management Co Ltd. Purchases 45,419 Shares of Fortinet, Inc. $FTNT

LGT Fund Management Co Ltd. increased its position in Fortinet, Inc. (NASDAQ:FTNT) by 102.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 89,819 shares of the software maker’s stock after acquiring an additional 45,419 shares during the period. LGT Fund Management Co Ltd.’s holdings in Fortinet were worth $7,340,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Physician Wealth Advisors Inc. grew its position in Fortinet by 408.3% in the first 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. Wexford Capital LP bought a new position in shares of Fortinet during 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. Palisade Asset Management LLC acquired a new stake in shares of Fortinet in the 3rd quarter valued at $28,000. Finally, Ares Financial Consulting LLC acquired a new position in Fortinet during the fourth quarter worth $29,000. Institutional investors own 83.71% of the company’s stock.

Fortinet Stock Performance

Shares of NASDAQ FTNT traded down $6.22 during trading hours on Friday, hitting $157.51. 3,518,279 shares of the company’s stock were exchanged, compared to its average volume of 5,833,056. The company’s 50-day moving average price is $137.74 and its 200-day moving average price is $100.94. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $165.28. The stock has a market capitalization of $115.40 billion, a price-to-earnings ratio of 60.81, a PEG ratio of 4.28 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07.

Fortinet (NASDAQ:FTNT) last released its 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. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company’s revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted $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, sell-side analysts expect that Fortinet, Inc. will post 2.8 earnings per share for the current fiscal year.

Insider Transactions at Fortinet

In other news, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 stock in a transaction dated 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 owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 318,387 shares of company stock worth $43,403,063. Insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on FTNT shares. HSBC lowered Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price objective on the stock. in a report on Monday, June 29th. Piper Sandler upped their target price on Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Compass Point set a $100.00 price target on Fortinet in a report on Monday, May 4th. Rosenblatt Securities boosted their price objective on shares of Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, UBS Group upped their price objective on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. One investment 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 assigned a Sell rating to the company. According to MarketBeat.com, Fortinet presently has an average rating of “Hold” and an average price target of $108.74.

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.