10,206 Shares in Fortinet, Inc. $FTNT Purchased by GSA Capital Partners LLP

GSA Capital Partners LLP purchased a new position in Fortinet, Inc. (NASDAQ:FTNT) during the second quarter, HoldingsChannel reports. The fund purchased 10,206 shares of the software maker’s stock, valued at approximately $1,568,000.

A number of other institutional investors have also added to or reduced their stakes in FTNT. Physician Wealth Advisors Inc. raised its position in shares of Fortinet by 408.3% during 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 during the last quarter. Wexford Capital LP bought a new stake in Fortinet in the 3rd quarter valued at $25,000. Elyxium Wealth LLC purchased a new stake in Fortinet in the 4th quarter worth $27,000. Palisade Asset Management LLC bought a new position in shares of Fortinet during the 3rd quarter valued at about $28,000. Finally, Ares Financial Consulting LLC purchased a new position in shares of Fortinet during the fourth quarter valued at about $29,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Stock Performance

FTNT stock opened at $160.01 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. Fortinet, Inc. has a 1-year low of $73.55 and a 1-year high of $172.09. The business has a 50-day moving average price of $155.05 and a 200 day moving average price of $115.31. The company has a market capitalization of $117.40 billion, a P/E ratio of 56.34, a PEG ratio of 3.03 and a beta of 1.07.

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

Insider Activity at Fortinet

In other news, 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 transaction, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction dated 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 directly owned 52,972,372 shares of the company’s stock, valued at approximately $8,616,486,029.52. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 475,157 shares of company stock valued at $69,480,964 in the last ninety days. Corporate insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

FTNT has been the subject of a number of research reports. TD Cowen reissued a “buy” rating and set a $215.00 price target (up from $160.00) on shares of Fortinet in a research note on Monday, July 13th. Scotiabank reiterated a “sector perform” rating and set a $163.00 target price on shares of Fortinet in a research report on Thursday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, May 7th. Stifel Nicolaus set a $175.00 price target on shares of Fortinet and gave the company a “hold” rating in a research note on Thursday, July 30th. Finally, UBS Group reiterated a “neutral” rating and set a $180.00 price objective on shares of Fortinet in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortinet currently has an average rating of “Hold” and a consensus target price of $150.91.

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.