Studio Investment Management LLC Purchases Shares of 6,974 Fortinet, Inc. $FTNT

Studio Investment Management LLC purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 6,974 shares of the software maker’s stock, valued at approximately $554,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Fortinet by 4.0% during the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after buying an additional 2,894,355 shares in the last quarter. State Street Corp lifted its stake in Fortinet by 1.6% during 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 in the last quarter. Invesco Ltd. lifted its stake in Fortinet by 17.0% during the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after buying an additional 1,568,337 shares in the last quarter. First Trust Advisors LP lifted its stake in Fortinet by 30.9% during the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock valued at $636,962,000 after buying an additional 1,790,033 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Fortinet by 12.9% during the fourth quarter. Legal & General Group Plc now owns 6,905,567 shares of the software maker’s stock valued at $548,371,000 after buying an additional 790,117 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FTNT. Susquehanna upped their price objective on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 price objective on shares of Fortinet in a research note on Tuesday, April 21st. Rosenblatt Securities upped their price objective on shares of Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Arete Research set a $104.00 price objective on shares of Fortinet and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Barclays set a $115.00 price objective on shares of Fortinet and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $102.69.

Fortinet Price Performance

Shares of FTNT opened at $133.96 on Wednesday. The company has a market capitalization of $98.15 billion, a price-to-earnings ratio of 51.72, a P/E/G ratio of 3.68 and a beta of 0.92. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $134.91. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. The business’s 50-day moving average is $94.07 and its 200-day moving average is $85.58.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Equities research analysts expect that Fortinet, Inc. will post 2.77 EPS for the current fiscal year.

Insider Activity

In other news, COO John Whittle sold 146,015 shares of the company’s stock in a transaction dated 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 owned 94,724 shares in the company, valued at $12,163,508.84. This represents a 60.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ken Xie sold 5,355 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $88.90, for a total value of $476,059.50. Following the completion of the transaction, the chief executive officer owned 52,978,004 shares in the company, valued at $4,709,744,555.60. This represents a 0.01% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 153,848 shares of company stock worth $19,446,115 in the last 90 days. Company insiders own 17.60% of the company’s stock.

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.