Mizuho Markets Americas LLC Purchases New Position in Fortinet, Inc. $FTNT

Mizuho Markets Americas LLC purchased a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,659 shares of the software maker’s stock, valued at approximately $381,000.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted 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 valued at $976,000 after acquiring an additional 221 shares during the last quarter. Bison Wealth LLC purchased a new position in shares of Fortinet in the fourth quarter valued at $585,000. HUB Investment Partners LLC increased its position in Fortinet by 29.1% in the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock worth $560,000 after purchasing an additional 1,193 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in Fortinet in the second quarter worth $1,136,000. Finally, Quantinno Capital Management LP raised its stake in Fortinet by 27.4% during the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock valued at $15,328,000 after purchasing an additional 31,202 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Stock Down 2.3%

Shares of NASDAQ FTNT opened at $151.54 on Friday. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $170.35. The firm has a 50-day simple moving average of $147.43 and a two-hundred day simple moving average of $106.13. The company has a market cap of $111.03 billion, a P/E ratio of 58.51, a PEG ratio of 4.22 and a beta of 1.09. 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 (NASDAQ:FTNT) last released its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the firm posted $0.58 earnings per share. The company’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. Research analysts anticipate that Fortinet, Inc. will post 2.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FTNT shares. Rosenblatt Securities lifted their price objective on shares of Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley upgraded shares of Fortinet from an “underweight” rating to an “outperform” rating and upped their target price for the company from $80.00 to $133.00 in a research report on Tuesday. Wells Fargo & Company reiterated an “underweight” rating and issued a $120.00 price target (up from $70.00) on shares of Fortinet in a research report on Monday. Scotiabank boosted their price objective on Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. Finally, Zacks Research upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned 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, Fortinet has a consensus rating of “Hold” and an average price target of $123.61.

Insider Buying and Selling at Fortinet

In other news, COO John Whittle sold 146,015 shares of the business’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 of the company’s stock, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 completion of the transaction, the vice president owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 318,387 shares of company stock valued at $43,403,063 in the last quarter. 17.60% of the stock is owned by insiders.

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.