Global Retirement Partners LLC Invests $2.12 Million in Fortinet, Inc. $FTNT

Global Retirement Partners LLC purchased a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) in the 2nd quarter, Holdings Channel reports. The firm purchased 13,784 shares of the software maker’s stock, valued at approximately $2,117,000.

Several other institutional investors and hedge funds have also bought and sold shares of FTNT. Physician Wealth Advisors Inc. grew its stake in shares of Fortinet by 408.3% in the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after buying an additional 245 shares in the last quarter. Wexford Capital LP bought a new position in shares of Fortinet during the third quarter worth approximately $25,000. Elyxium Wealth LLC acquired a new stake in shares of Fortinet during the fourth quarter worth $27,000. Palisade Asset Management LLC bought a new stake in Fortinet in the 3rd quarter valued at about $28,000. Finally, Ares Financial Consulting LLC acquired a new stake in Fortinet during the fourth quarter worth approximately $29,000. Institutional investors own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. William Blair reiterated a “market perform” rating on shares of Fortinet in a research note on Tuesday, July 21st. JPMorgan Chase & Co. increased their price target on Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, May 7th. DZ Bank downgraded Fortinet from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Bank of America reiterated a “buy” rating on shares of Fortinet in a report on Monday, July 27th. Finally, Weiss Ratings raised shares of Fortinet from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $150.91.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $160.01 on Monday. The firm’s fifty day moving average is $155.05 and its 200 day moving average is $115.31. The company has a market cap of $117.40 billion, a price-to-earnings ratio of 56.34, a PEG ratio of 3.03 and a beta of 1.07. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $172.09.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.15. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, equities research analysts expect that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Insider Transactions at Fortinet

In other Fortinet news, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. The trade was a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Xie sold 3,121 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.63, for a total value of $507,568.23. Following the sale, the vice president owned 9,918,360 shares in the company, valued at $1,613,022,886.80. The trade was a 0.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 475,157 shares of company stock worth $69,480,964 in the last three months. Corporate insiders own 17.60% of the company’s stock.

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.