Summit Global Investments Has $900,000 Holdings in Fortinet, Inc. $FTNT

Summit Global Investments decreased its stake in Fortinet, Inc. (NASDAQ:FTNT) by 63.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,012 shares of the software maker’s stock after selling 19,473 shares during the period. Summit Global Investments’ holdings in Fortinet were worth $900,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Florida Financial Advisors LLC raised its holdings in Fortinet by 3.0% in the 1st quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock valued at $309,000 after acquiring an additional 109 shares in the last quarter. Optimist Retirement Group LLC increased its position in shares of Fortinet by 2.5% during the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock valued at $398,000 after purchasing an additional 122 shares during the period. PDS Planning Inc increased its position in shares of Fortinet by 3.1% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock valued at $326,000 after purchasing an additional 123 shares during the period. GW&K Investment Management LLC raised its stake in shares of Fortinet by 31.4% in the fourth quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock valued at $41,000 after purchasing an additional 123 shares in the last quarter. Finally, Delta Investment Management LLC lifted its position in Fortinet by 2.4% in the fourth quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock worth $417,000 after purchasing an additional 125 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FTNT shares. Truist Financial set a $183.00 price objective on shares of Fortinet and gave the company a “buy” rating in a research note on Tuesday. Robert W. Baird set a $120.00 price target on shares of Fortinet in a research report on Tuesday. Mizuho set a $125.00 price target on shares of Fortinet and gave the stock an “underperform” rating in a research note on Wednesday, July 15th. Arete Research set a $104.00 price objective on Fortinet and gave the company a “buy” rating in a report on Monday, April 27th. Finally, Wells Fargo & Company restated an “underweight” rating and set a $120.00 target price (up from $70.00) on shares of Fortinet in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-four have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $119.48.

Insider Activity at Fortinet

In other Fortinet news, COO John Whittle sold 146,015 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the transaction, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, 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 sold a total of 318,387 shares of company stock valued at $43,403,063 over the last quarter. Corporate insiders own 17.60% of the company’s stock.

Fortinet Stock Performance

Shares of NASDAQ:FTNT opened at $158.10 on Wednesday. The business has a fifty day moving average of $146.08 and a 200-day moving average of $105.08. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $170.35. The firm has a market cap of $115.83 billion, a PE ratio of 61.04, a price-to-earnings-growth ratio of 4.36 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company earned $0.58 EPS. The firm’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. On average, equities research analysts predict that Fortinet, Inc. will post 2.8 EPS for the current fiscal year.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Intel and Fortinet announced a collaboration to develop Fortinet’s next-generation Security Processor 6, with Fortinet becoming Intel Foundry’s first publicly named cybersecurity chip customer. The deal highlights demand for Fortinet’s hardware and could strengthen its supply chain and product roadmap. Intel (INTC) Lands Fortinet As First Named Cybersecurity Customer For Its Foundry
• Positive Sentiment: Wall Street analysts turned more constructive on Fortinet, with one upgrade and another raising the price target while maintaining a Hold rating. The revisions suggest confidence in Fortinet’s fundamentals, even if valuation remains a concern. This Fortinet Analyst Is No Longer Bearish; Here Are Top 4 Upgrades For Tuesday Fortinet Price Target Raised to $140 as Strong Fundamentals Clash With Stretch Valuation, Supporting a Hold Rating
• Neutral Sentiment: Cybersecurity stocks remain in favor as investors rotate away from some AI and semiconductor names, which supports Fortinet’s sector backdrop. Cybersecurity Stocks Are Holding Up as the AI Trade Starts to Crack (FTNT)
• Negative Sentiment: Despite the positive headlines, Fortinet is still seen as expensive by some analysts, and Morgan Stanley warned that lofty cybersecurity valuations could limit upside ahead of earnings. Cybersecurity Stocks’ Hefty Valuations Demand Caution Ahead of Earnings, Morgan Stanley Says

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.