Fortinet, Inc. $FTNT Shares Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI boosted its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 28.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 21,973 shares of the software maker’s stock after acquiring an additional 4,902 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Fortinet were worth $1,796,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Brighton Jones LLC increased its stake in Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after buying an additional 221 shares during the period. Bison Wealth LLC acquired a new stake in shares of Fortinet in the 4th quarter worth $585,000. HUB Investment Partners LLC boosted its holdings in shares of Fortinet by 29.1% in the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after acquiring an additional 1,193 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Fortinet in the second quarter valued at about $1,136,000. Finally, Quantinno Capital Management LP increased its stake in shares of Fortinet by 27.4% during the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock worth $15,328,000 after acquiring an additional 31,202 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

Fortinet Stock Up 2.0%

FTNT stock opened at $160.62 on Tuesday. The stock has a market capitalization of $117.68 billion, a P/E ratio of 62.02, a PEG ratio of 4.28 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. Fortinet, Inc. has a one year low of $70.12 and a one year high of $165.28. The company has a 50 day moving average price of $139.26 and a two-hundred day moving average price of $101.64.

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, topping the consensus estimate of $0.62 by $0.20. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the company earned $0.58 earnings per share. 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 expect that Fortinet, Inc. will post 2.8 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FTNT shares. Wells Fargo & Company reissued an “underweight” rating and set a $70.00 target price (up from $64.00) on shares of Fortinet in a research note on Thursday, May 7th. TD Cowen reaffirmed a “buy” rating and set a $215.00 price objective (up from $160.00) on shares of Fortinet in a report on Monday. Stephens set a $115.00 price objective on Fortinet and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Arete Research set a $104.00 price objective on Fortinet and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Robert W. Baird set a $115.00 target price on Fortinet in a report on Thursday, May 7th. One 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $111.00.

Insider Activity

In other news, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction on 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 directly owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the transaction, the vice president directly owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 318,387 shares of company stock valued at $43,403,063. Company insiders own 17.60% of the company’s stock.

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.