Fortinet, Inc. $FTNT Shares Bought by CacheTech Inc.

CacheTech Inc. increased its stake in Fortinet, Inc. (NASDAQ:FTNT) by 72.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,189 shares of the software maker’s stock after acquiring an additional 3,873 shares during the period. CacheTech Inc.’s holdings in Fortinet were worth $751,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Fortinet in the fourth quarter worth approximately $1,152,917,000. Van ECK Associates Corp increased its position in shares of Fortinet by 38.9% during the 4th 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 during the period. AQR Capital Management LLC increased its position in shares of Fortinet by 76.2% during the 4th quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock valued at $326,297,000 after purchasing an additional 1,777,115 shares during the period. Invesco Ltd. raised its stake in shares of Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after buying an additional 1,568,337 shares in the last quarter. Finally, Capital World Investors bought a new stake in shares of Fortinet in the 4th quarter worth $100,256,000. Institutional investors own 83.71% of the company’s stock.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Intel and Fortinet announced a collaboration to develop Fortinet’s next-generation Security Processor 6, with Fortinet becoming Intel Foundry’s first publicly named cybersecurity chip customer. The deal highlights demand for Fortinet’s hardware and could strengthen its supply chain and product roadmap. Intel (INTC) Lands Fortinet As First Named Cybersecurity Customer For Its Foundry
• Positive Sentiment: Wall Street analysts turned more constructive on Fortinet, with one upgrade and another raising the price target while maintaining a Hold rating. The revisions suggest confidence in Fortinet’s fundamentals, even if valuation remains a concern. This Fortinet Analyst Is No Longer Bearish; Here Are Top 4 Upgrades For Tuesday Fortinet Price Target Raised to $140 as Strong Fundamentals Clash With Stretch Valuation, Supporting a Hold Rating
• Neutral Sentiment: Cybersecurity stocks remain in favor as investors rotate away from some AI and semiconductor names, which supports Fortinet’s sector backdrop. Cybersecurity Stocks Are Holding Up as the AI Trade Starts to Crack (FTNT)
• Negative Sentiment: Despite the positive headlines, Fortinet is still seen as expensive by some analysts, and Morgan Stanley warned that lofty cybersecurity valuations could limit upside ahead of earnings. Cybersecurity Stocks’ Hefty Valuations Demand Caution Ahead of Earnings, Morgan Stanley Says

Fortinet Stock Down 1.4%

NASDAQ:FTNT opened at $158.10 on Wednesday. The business’s fifty day moving average price is $146.08 and its 200 day moving average price is $105.08. The firm has a market capitalization of $115.83 billion, a price-to-earnings ratio of 61.04, a PEG ratio of 4.36 and a beta of 1.09. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $170.35.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.73 billion. During the same period last year, the company posted $0.58 EPS. The business’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. On average, sell-side analysts forecast that Fortinet, Inc. will post 2.8 earnings per share for the current fiscal year.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 318,387 shares of company stock valued at $43,403,063 over the last three months. 17.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. UBS Group upped their price objective on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 target price on shares of Fortinet in a report on Thursday, May 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price target on shares of Fortinet in a research report on Tuesday, April 21st. BTIG Research upped their price target on shares of Fortinet from $150.00 to $186.00 and gave the company a “buy” rating in a report on Friday, July 10th. Finally, Wall Street Zen upgraded shares of Fortinet from a “hold” rating to a “buy” rating in a research report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-four have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $119.48.

About Fortinet

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.