Chicago Partners Investment Group LLC Purchases 5,988 Shares of Fortinet, Inc. $FTNT

Chicago Partners Investment Group LLC boosted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 107.6% during the first quarter, Holdings Channel reports. The institutional investor owned 11,551 shares of the software maker’s stock after acquiring an additional 5,988 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Fortinet were worth $1,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of Fortinet by 2.2% during the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after buying an additional 221 shares during the period. Bison Wealth LLC acquired a new position in Fortinet during the 4th quarter worth about $585,000. HUB Investment Partners LLC grew its stake in shares of Fortinet by 29.1% during the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after purchasing an additional 1,193 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Fortinet in the 2nd quarter valued at $1,136,000. Finally, Quantinno Capital Management LP raised its holdings in Fortinet by 27.4% during the 2nd quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock worth $15,328,000 after purchasing an additional 31,202 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet was upgraded by Zacks Research from hold to strong-buy, signaling stronger earnings optimism and a potentially more favorable near-term trading setup. Article Title
• Positive Sentiment: Several articles highlighted Fortinet as a beneficiary of rising cybersecurity demand, especially as AI infrastructure spending and global threat concerns keep security budgets elevated. Article Title
• Positive Sentiment: Coverage on Fortinet’s AI security initiatives, including the expansion of FortiEndpoint and broader AI cybersecurity positioning, is reinforcing the growth narrative around the stock. Article Title
• Positive Sentiment: Fortinet’s selection of TD SYNNEX as a global delivery/distribution partner adds another sign of expanding channel reach and customer access. Article Title
• Neutral Sentiment: MarketWatch noted that Fortinet has been outperforming peers despite weakness in the broader session, suggesting relative strength rather than a fresh fundamental catalyst. Article Title
• Neutral Sentiment: Some commentary compared Fortinet with peers like Palo Alto and Microsoft, but also raised valuation concerns after a strong multi-year run, which may cap upside if growth does not keep pace. Article Title

Analysts Set New Price Targets

Several research firms have recently issued reports on FTNT. Stephens set a $115.00 target price on Fortinet and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 target price on shares of Fortinet in a report on Thursday, May 7th. DZ Bank cut Fortinet from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research note on Tuesday, May 19th. Truist Financial set a $120.00 price objective on shares of Fortinet and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Robert W. Baird set a $115.00 price objective on Fortinet in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-three have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $113.97.

Fortinet Stock Down 2.3%

Shares of FTNT opened at $160.78 on Friday. The firm has a market cap of $117.80 billion, a P/E ratio of 62.08, a price-to-earnings-growth ratio of 4.47 and a beta of 1.09. The firm’s 50-day simple moving average is $143.35 and its 200 day simple moving average is $103.39. 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 52 week low of $70.12 and a 52 week high of $170.35.

Fortinet (NASDAQ:FTNT) last released 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. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business 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 company posted $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, analysts forecast that Fortinet, Inc. will post 2.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was 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 in the company, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was 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 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 318,387 shares of company stock worth $43,403,063 in the last quarter. 17.60% of the stock is currently owned by corporate 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.