23,557 Shares in Fortinet, Inc. $FTNT Acquired by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. bought a new position in Fortinet, Inc. (NASDAQ:FTNT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 23,557 shares of the software maker’s stock, valued at approximately $3,619,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Korea Investment CORP bought a new position in shares of Fortinet in the second quarter worth approximately $60,210,000. EP Wealth Advisors LLC bought a new stake in shares of Fortinet during the 2nd quarter valued at about $3,508,000. Rakuten Securities Inc. purchased a new position in shares of Fortinet during the 2nd quarter worth approximately $113,000. Ieq Capital LLC purchased a new stake in Fortinet in the second quarter worth $51,250,000. Finally, Callan Family Office LLC purchased a new stake in Fortinet in the second quarter worth $4,935,000. 83.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FTNT shares. Morgan Stanley reissued a “positive” rating and set a $136.00 price objective (up from $133.00) on shares of Fortinet in a research report on Thursday, July 30th. BTIG Research upped their target price on shares of Fortinet from $186.00 to $203.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Mizuho set a $125.00 price target on shares of Fortinet and gave the stock an “underperform” rating in a research note on Wednesday, July 15th. The Goldman Sachs Group reissued a “buy” rating and set a $190.00 price target on shares of Fortinet in a research report on Thursday, July 30th. Finally, Evercore set a $165.00 price objective on shares of Fortinet in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $150.91.

Fortinet Stock Up 1.8%

Shares of NASDAQ:FTNT opened at $153.51 on Friday. The stock has a fifty day simple moving average of $156.24 and a two-hundred day simple moving average of $117.61. The stock has a market capitalization of $112.63 billion, a price-to-earnings ratio of 54.05, a PEG ratio of 2.86 and a beta of 1.07. Fortinet, Inc. has a 12-month low of $73.55 and a 12-month high of $172.09. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, research analysts anticipate that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Transactions at Fortinet

In other Fortinet news, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the sale, the vice president directly owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This trade represents a 0.30% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 329,142 shares of company stock worth $50,731,178. 17.60% of the stock is currently owned by company insiders.

Fortinet Company 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.