Hillsdale Investment Management Inc. Purchases New Position in Fortinet, Inc. $FTNT

Hillsdale Investment Management Inc. purchased a new position in Fortinet, Inc. (NASDAQ:FTNT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,440 shares of the software maker’s stock, valued at approximately $1,098,000.

Several other institutional investors and hedge funds have also bought and sold shares of FTNT. Wexford Capital LP purchased a new position in shares of Fortinet in the 3rd quarter valued at approximately $25,000. Physician Wealth Advisors Inc. grew its stake 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 purchasing an additional 245 shares during the period. Palisade Asset Management LLC bought a new position in Fortinet in the third quarter worth $28,000. Elyxium Wealth LLC bought a new position in Fortinet in the fourth quarter worth $27,000. Finally, Maseco LLP purchased a new position in Fortinet during the first quarter valued at $29,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer owned 94,724 shares of the company’s stock, valued at $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 318,387 shares of company stock worth $43,403,063 over the last 90 days. 17.60% of the stock is currently owned by insiders.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet was upgraded by Zacks Research from hold to strong-buy, signaling stronger earnings optimism and a potentially more favorable near-term trading setup. Article Title
• Positive Sentiment: Several articles highlighted Fortinet as a beneficiary of rising cybersecurity demand, especially as AI infrastructure spending and global threat concerns keep security budgets elevated. Article Title
• Positive Sentiment: Coverage on Fortinet’s AI security initiatives, including the expansion of FortiEndpoint and broader AI cybersecurity positioning, is reinforcing the growth narrative around the stock. Article Title
• Positive Sentiment: Fortinet’s selection of TD SYNNEX as a global delivery/distribution partner adds another sign of expanding channel reach and customer access. Article Title
• Neutral Sentiment: MarketWatch noted that Fortinet has been outperforming peers despite weakness in the broader session, suggesting relative strength rather than a fresh fundamental catalyst. Article Title
• Neutral Sentiment: Some commentary compared Fortinet with peers like Palo Alto and Microsoft, but also raised valuation concerns after a strong multi-year run, which may cap upside if growth does not keep pace. Article Title

Fortinet Price Performance

Shares of NASDAQ:FTNT opened at $160.78 on Friday. The business has a fifty day moving average price of $143.35 and a 200-day moving average price of $103.39. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. The company has a market capitalization of $117.80 billion, a PE ratio of 62.08, a PEG ratio of 4.47 and a beta of 1.09. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $170.35.

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, topping analysts’ consensus estimates of $0.62 by $0.20. The company 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%. Fortinet’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the business 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. As a group, equities analysts expect that Fortinet, Inc. will post 2.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FTNT shares. Susquehanna upped their target price on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 price target on shares of Fortinet in a research report on Thursday, May 7th. Royal Bank Of Canada reissued a “sector perform” rating and set a $160.00 price objective on shares of Fortinet in a research note on Thursday. Arete Research set a $104.00 price objective on shares of Fortinet and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, Zacks Research raised shares of Fortinet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-three have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and a consensus price target of $113.97.

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.