Goodman Advisory Group LLC Raises Holdings in Fortinet, Inc. $FTNT

Goodman Advisory Group LLC grew its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 1,623.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,780 shares of the software maker’s stock after purchasing an additional 19,574 shares during the quarter. Goodman Advisory Group LLC’s holdings in Fortinet were worth $1,650,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Deutsche Bank AG boosted its stake in shares of Fortinet by 17.9% during the fourth quarter. Deutsche Bank AG now owns 6,732,152 shares of the software maker’s stock worth $534,600,000 after buying an additional 1,020,515 shares during the period. GW&K Investment Management LLC boosted its stake in shares of Fortinet by 31.4% during the fourth quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock worth $41,000 after buying an additional 123 shares during the period. Motley Fool Asset Management LLC boosted its stake in shares of Fortinet by 24.5% during the fourth quarter. Motley Fool Asset Management LLC now owns 76,968 shares of the software maker’s stock worth $6,112,000 after buying an additional 15,155 shares during the period. Focus Partners Advisor Solutions LLC boosted its stake in shares of Fortinet by 36.8% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 33,889 shares of the software maker’s stock worth $2,691,000 after buying an additional 9,110 shares during the period. Finally, Westerkirk Capital Inc. boosted its stake in shares of Fortinet by 41.9% during the fourth quarter. Westerkirk Capital Inc. now owns 52,500 shares of the software maker’s stock worth $4,169,000 after buying an additional 15,500 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Trading Up 0.4%

Shares of Fortinet stock opened at $138.88 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $150.07. The company has a market capitalization of $101.75 billion, a P/E ratio of 53.62, a P/E/G ratio of 3.79 and a beta of 1.11. The business has a 50 day moving average price of $107.23 and a 200 day moving average price of $90.23.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data 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 return on equity of 160.08% and a net margin of 27.49%.The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm posted $0.58 EPS. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. 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 anticipate that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Mizuho increased their target price on shares of Fortinet from $70.00 to $86.00 and gave the stock an “underperform” rating in a research note on Thursday, May 7th. Morgan Stanley reiterated an “underweight” rating and set a $80.00 target price on shares of Fortinet in a research note on Thursday, May 7th. Barclays set a $115.00 target price on shares of Fortinet and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Wells Fargo & Company reiterated an “underweight” rating and set a $70.00 target price (up from $64.00) on shares of Fortinet in a research note on Thursday, May 7th. Finally, Truist Financial set a $120.00 target price on shares of Fortinet and gave the stock a “buy” rating in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $106.43.

Insiders Place Their Bets

In other news, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $7,711,717,915.76. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the sale, the vice president directly owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. This represents a 0.04% 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 three months, insiders sold 318,387 shares of company stock valued at $43,403,063. 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.