Maridea Wealth Management LLC Buys 3,375 Shares of Fortinet, Inc. $FTNT

Maridea Wealth Management LLC boosted its stake in Fortinet, Inc. (NASDAQ:FTNT) by 50.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 10,044 shares of the software maker’s stock after buying an additional 3,375 shares during the period. Maridea Wealth Management LLC’s holdings in Fortinet were worth $821,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Pinnacle Holdings LLC bought a new position in shares of Fortinet during the third quarter valued at $25,000. Ameriflex Group Inc. bought a new stake in shares of Fortinet in the 3rd quarter worth about $25,000. Wexford Capital LP bought a new stake in shares of Fortinet in the 3rd quarter worth about $25,000. Palisade Asset Management LLC acquired a new stake in shares of Fortinet during the 3rd quarter worth about $28,000. Finally, Elyxium Wealth LLC acquired a new stake in shares of Fortinet during the 4th quarter worth about $27,000. 83.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FTNT has been the topic of a number of recent analyst reports. Stephens set a $115.00 price target on shares of Fortinet and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Mizuho lifted their target price on shares of Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, May 7th. DZ Bank downgraded Fortinet from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a report on Tuesday, May 19th. BTIG Research increased their price target on Fortinet from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. raised their price target on Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, Fortinet currently has an average rating of “Hold” and a consensus target price of $107.77.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was 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 of the company’s stock, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total value of $23,384,806.56. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by corporate insiders.

Fortinet Trading Up 0.9%

FTNT opened at $151.35 on Friday. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $152.77. The stock has a market capitalization of $110.89 billion, a PE ratio of 58.44, a PEG ratio of 4.14 and a beta of 1.11. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $123.02 and a two-hundred day moving average price of $95.61.

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

Fortinet 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.