Janney Montgomery Scott LLC Has $5.45 Million Stock Holdings in Fortinet, Inc. $FTNT

Janney Montgomery Scott LLC trimmed its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 7.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 66,648 shares of the software maker’s stock after selling 5,023 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Fortinet were worth $5,446,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Ameriflex Group Inc. bought a new stake in Fortinet in the third quarter worth $25,000. Wexford Capital LP acquired a new stake in shares of Fortinet in the third quarter worth about $25,000. Elyxium Wealth LLC bought a new stake in shares of Fortinet during the 4th quarter worth about $27,000. Palisade Asset Management LLC bought a new stake in shares of Fortinet during the 3rd quarter worth about $28,000. Finally, Ares Financial Consulting LLC acquired a new position in shares of Fortinet during the 4th quarter valued at about $29,000. Institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling at Fortinet

In other news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction dated 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 sale, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. The trade was 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. Insiders have sold 318,387 shares of company stock valued at $43,403,063 in the last 90 days. 17.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on FTNT. HSBC lowered Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 target price for the company. in a report on Monday, June 29th. Compass Point set a $100.00 price target on shares of Fortinet in a research report on Monday, May 4th. Susquehanna upped their price objective on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Piper Sandler raised their target price on shares of Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Zacks Research downgraded shares of Fortinet from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $107.58.

Fortinet Price Performance

Shares of NASDAQ:FTNT opened at $156.25 on Friday. The firm has a market capitalization of $114.48 billion, a PE ratio of 60.33, a PEG ratio of 4.28 and a beta of 1.09. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $159.80. The business’s 50 day moving average is $130.25 and its 200-day moving average is $98.18.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.Fortinet’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Sell-side analysts predict that Fortinet, Inc. will post 2.78 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.