4,327 Shares in Fortinet, Inc. $FTNT Acquired by Rare Wolf Capital LLC

Rare Wolf Capital LLC purchased a new position in Fortinet, Inc. (NASDAQ:FTNT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,327 shares of the software maker’s stock, valued at approximately $344,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new position in Fortinet in the fourth quarter worth $1,152,917,000. Van ECK Associates Corp raised its position in Fortinet by 38.9% during the fourth quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock valued at $613,915,000 after purchasing an additional 2,166,396 shares in the last quarter. First Trust Advisors LP raised its position 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 purchasing an additional 1,790,033 shares in the last quarter. AQR Capital Management LLC lifted its stake in Fortinet by 76.2% during the fourth quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock worth $326,297,000 after purchasing an additional 1,777,115 shares during the last quarter. Finally, 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 worth $909,453,000 after purchasing an additional 1,568,337 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Price Performance

FTNT opened at $144.73 on Friday. The stock’s 50 day simple moving average is $114.89 and its 200 day simple moving average is $93.01. 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 firm has a market cap of $106.04 billion, a price-to-earnings ratio of 55.88, a PEG ratio of 3.95 and a beta of 1.11.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm 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. As a group, analysts predict that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Truist Financial set a $120.00 price objective on Fortinet and gave the company a “buy” rating in a research report on Thursday, May 7th. 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. Stifel Nicolaus set a $85.00 price target on shares of Fortinet in a research note on Wednesday, March 11th. Scotiabank boosted their price objective on shares of Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $107.77.

Insider Activity at Fortinet

In related news, COO John Whittle sold 146,015 shares of the company’s stock in a transaction on 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 completion of the sale, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. This represents a 60.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Michael Xie sold 3,907 shares of the 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. The trade was a 0.04% 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. Insiders sold 318,387 shares of company stock worth $43,403,063 in the last three months. 17.60% of the stock is owned by insiders.

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.