Private Advisory Group LLC Takes $9.32 Million Position in Fortinet, Inc. $FTNT

Private Advisory Group LLC bought a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 117,344 shares of the software maker’s stock, valued at approximately $9,318,000.

Several other institutional investors have also recently added to or reduced their stakes in FTNT. Vanguard Group Inc. raised its stake in shares of Fortinet by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after purchasing an additional 2,894,355 shares in the last quarter. Van ECK Associates Corp raised its stake in Fortinet by 62.1% during the third quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker’s stock valued at $467,868,000 after buying an additional 2,132,109 shares in the last quarter. First Trust Advisors LP lifted its holdings in Fortinet by 30.9% during the 3rd quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock worth $636,962,000 after buying an additional 1,790,033 shares during the last quarter. Invesco Ltd. grew its position 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 acquiring an additional 1,568,337 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Fortinet by 23.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,160,348 shares of the software maker’s stock worth $430,082,000 after acquiring an additional 969,899 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FTNT. Piper Sandler reissued a “neutral” rating and set a $90.00 price target (up from $85.00) on shares of Fortinet in a research report on Monday, January 5th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $90.00 price objective (up from $85.00) on shares of Fortinet in a research report on Friday, February 6th. TD Cowen raised shares of Fortinet from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Friday, January 23rd. Jefferies Financial Group set a $90.00 target price on Fortinet in a report on Friday, February 6th. Finally, Stifel Nicolaus set a $85.00 price target on Fortinet in a report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $88.62.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $78.20 on Monday. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The stock has a 50 day simple moving average of $81.41 and a 200-day simple moving average of $81.93. The company has a market cap of $57.86 billion, a PE ratio of 32.18, a P/E/G ratio of 2.69 and a beta of 1.05. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $109.33.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.74 by $0.07. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the firm earned $0.74 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. On average, equities research analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current year.

Insiders Place Their Bets

In other news, VP Michael Xie sold 343,106 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the completion of the transaction, the vice president owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ken Xie sold 175,737 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the completion of the sale, the chief executive officer owned 51,396,385 shares in the company, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 17.20% of the company’s stock.

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.