Paradiem LLC Acquires Shares of 14,947 Fortinet, Inc. $FTNT

Paradiem LLC bought a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,947 shares of the software maker’s stock, valued at approximately $1,221,000.

Several other hedge funds have also modified their holdings of the business. Norges Bank purchased a new stake in shares of Fortinet in the fourth quarter valued at approximately $1,152,917,000. Van ECK Associates Corp raised its position in Fortinet by 38.9% in the fourth quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock worth $613,915,000 after acquiring an additional 2,166,396 shares in the last quarter. AQR Capital Management LLC raised its position in Fortinet by 76.2% in the fourth quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock worth $326,297,000 after acquiring an additional 1,777,115 shares in the last quarter. Invesco Ltd. lifted its holdings in Fortinet by 17.0% in the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after acquiring an additional 1,568,337 shares during the period. Finally, Capital World Investors acquired a new stake in Fortinet in the fourth quarter valued at $100,256,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO John Whittle sold 146,015 shares of the business’s 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 completion of the transaction, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the sale, the vice president owned 9,923,610 shares in the company, 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. Over the last 90 days, insiders sold 318,387 shares of company stock valued at $43,403,063. Corporate insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FTNT shares. Robert W. Baird set a $115.00 price target on shares of Fortinet in a research note on Thursday, May 7th. Rosenblatt Securities raised 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. JPMorgan Chase & Co. boosted their price objective on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. TD Cowen reaffirmed a “buy” rating and issued a $160.00 target price (up from $125.00) on shares of Fortinet in a report on Monday, June 8th. Finally, HSBC downgraded shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price target for the company. in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $108.74.

Fortinet Stock Performance

NASDAQ:FTNT opened at $157.51 on Monday. 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 $137.74 and a two-hundred day moving average price of $101.08. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $165.28. The company has a market capitalization of $115.40 billion, a P/E ratio of 60.81, a price-to-earnings-growth ratio of 4.28 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 27.49% and a return on equity of 160.08%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.58 earnings per share. 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, research analysts expect that Fortinet, Inc. will post 2.8 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.