Twin Lakes Capital Management LLC Makes New $638,000 Investment in Fortinet, Inc. $FTNT

Twin Lakes Capital Management LLC bought a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,156 shares of the software maker’s stock, valued at approximately $638,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Fortinet during the 2nd quarter worth approximately $9,561,650,000. State Street Corp boosted its holdings in shares of Fortinet by 1.6% in the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after buying an additional 477,397 shares during the period. Norges Bank bought a new stake in shares of Fortinet during the fourth quarter worth $1,152,917,000. Bank of New York Mellon Corp raised its holdings in shares of Fortinet by 6.6% during the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock worth $1,151,810,000 after acquiring an additional 893,190 shares during the period. Finally, First Trust Advisors LP lifted its position in Fortinet by 45.5% in the 1st quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock valued at $940,284,000 after acquiring an additional 3,598,487 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FTNT has been the topic of several recent research reports. Royal Bank Of Canada set a $185.00 price target on Fortinet and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Bank of America reissued a “buy” rating on shares of Fortinet in a research report on Monday, July 27th. DZ Bank downgraded Fortinet from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Barclays set a $190.00 price objective on shares of Fortinet and gave the company an “equal weight” rating in a report on Thursday, July 30th. Finally, Compass Point set a $100.00 target price on shares of Fortinet in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twenty have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, Fortinet has a consensus rating of “Hold” and an average target price of $150.91.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet Federal, a wholly owned subsidiary, earned CMMC Level 2 certification after validating 110 NIST SP 800-171 controls. The certification could improve Fortinet’s credibility with U.S. government agencies and defense contractors seeking compliant cybersecurity providers. Fortinet Federal’s New CMMC Level 2 Certification
• Positive Sentiment: Analysts continue to point to platform adoption, artificial-intelligence security products, product expansion and CMMC-related demand as potential growth drivers across enterprise and government markets. Fortinet Stock Surges on Security Platform Momentum
• Positive Sentiment: A new multi-year sponsorship agreement with Stanford Athletics supports Fortinet’s brand visibility, although the financial impact is likely modest compared with its core business. Stanford Athletics and Fortinet Sponsorship
• Neutral Sentiment: Fortinet recently moved above its 20-day moving average, signaling short-term technical momentum. However, technical support can also encourage profit-taking after a large advance. Fortinet Crosses Above Its 20-Day Moving Average
• Negative Sentiment: Valuation is a key overhang. With the stock near its annual high and trading at roughly 58 times earnings, investors may be demanding continued strong execution, leaving limited room for disappointment. Fortinet Valuation Leaves Limited Margin of Safety
• Negative Sentiment: Insider-trading data shows executives made no open-market purchases and reported multiple sales over the past six months. In addition, the reported median analyst price target of $115 is below recent trading levels, reinforcing concerns that expectations may have become excessive.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 161,482 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the sale, the vice president directly owned 9,918,360 shares in the company, valued at $1,613,022,886.80. This trade represents a 0.03% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 329,142 shares of company stock valued at $50,731,178. 17.60% of the stock is currently owned by insiders.

Fortinet Stock Performance

FTNT opened at $166.00 on Friday. The business’s 50-day simple moving average is $157.68 and its 200 day simple moving average is $120.40. Fortinet, Inc. has a 52-week low of $73.55 and a 52-week high of $173.89. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. The firm has a market capitalization of $121.80 billion, a PE ratio of 58.45, a PEG ratio of 3.28 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 for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The business’s revenue was up 25.6% compared to the same quarter last year. During the same period last year, the company 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. As a group, sell-side analysts expect that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal 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.