Callan Family Office LLC Takes Position in Fortinet, Inc. $FTNT

Callan Family Office LLC purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 32,124 shares of the software maker’s stock, valued at approximately $4,935,000.

A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Fortinet during the 2nd quarter worth $9,561,650,000. Norges Bank purchased a new stake in shares of Fortinet in the fourth quarter valued at about $1,152,917,000. Bank of New York Mellon Corp purchased a new stake in shares of Fortinet in the second quarter valued at about $1,432,842,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Fortinet by 87.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock worth $788,682,000 after buying an additional 4,500,194 shares during the period. Finally, Deutsche Bank AG acquired a new stake in shares of Fortinet during the second quarter worth about $581,102,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FTNT shares. UBS Group restated a “neutral” rating and issued a $180.00 price target on shares of Fortinet in a research report on Thursday, July 30th. Stifel Nicolaus set a $175.00 price objective on Fortinet and gave the stock a “hold” rating in a research report on Thursday, July 30th. Truist Financial set a $183.00 target price on Fortinet and gave the company a “buy” rating in a research note on Tuesday, July 21st. BMO Capital Markets lifted their target price on Fortinet from $170.00 to $185.00 and gave the company a “market perform” rating in a research note on Thursday, July 30th. Finally, Evercore set a $165.00 target price on Fortinet in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $150.91.

Insider Buying and Selling

In related news, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of the company’s stock in a transaction 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 transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at $8,616,486,029.52. This represents a 0.30% 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. Over the last three months, insiders have sold 329,142 shares of company stock valued at $50,731,178. Company insiders own 17.60% of the company’s stock.

Fortinet Stock Up 1.8%

Shares of NASDAQ:FTNT opened at $153.51 on Friday. Fortinet, Inc. has a fifty-two week low of $73.55 and a fifty-two week high of $172.09. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The firm’s 50-day simple moving average is $156.24 and its 200-day simple moving average is $117.61. The company has a market cap of $112.63 billion, a price-to-earnings ratio of 54.05, a PEG ratio of 2.86 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.15. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. 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 company posted $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. As a group, equities research analysts predict that Fortinet, Inc. will post 3.05 earnings per share for the current year.

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.