North Dakota State Investment Board Makes New $1.73 Million Investment in Fortinet, Inc. $FTNT

North Dakota State Investment Board purchased a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 21,808 shares of the software maker’s stock, valued at approximately $1,732,000.

Several other institutional investors have also recently made changes to their positions in the stock. Elyxium Wealth LLC acquired a new position in shares of Fortinet during the 4th quarter worth approximately $27,000. Roberts Glore & Co. Inc. IL increased its position in shares of Fortinet by 14.7% during the 4th quarter. Roberts Glore & Co. Inc. IL now owns 9,170 shares of the software maker’s stock worth $728,000 after purchasing an additional 1,175 shares during the last quarter. Abacus Wealth Partners LLC acquired a new position in shares of Fortinet during the 4th quarter worth approximately $262,000. Soltis Investment Advisors LLC increased its position in shares of Fortinet by 45.5% during the 4th quarter. Soltis Investment Advisors LLC now owns 3,727 shares of the software maker’s stock worth $296,000 after purchasing an additional 1,166 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its position in shares of Fortinet by 4.2% during the 4th quarter. iA Global Asset Management Inc. now owns 92,450 shares of the software maker’s stock worth $7,341,000 after purchasing an additional 3,725 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Price Performance

Fortinet stock opened at $127.64 on Wednesday. The company has a market capitalization of $93.52 billion, a price-to-earnings ratio of 49.28, a PEG ratio of 3.48 and a beta of 0.92. The stock’s 50 day moving average is $89.23 and its 200-day moving average is $83.95. 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 12 month low of $70.12 and a 12 month high of $128.20.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping 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 analysts’ expectations of $1.73 billion. During the same period last year, the firm posted $0.58 EPS. The firm’s revenue for the quarter 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. Equities research analysts expect that Fortinet, Inc. will post 2.77 EPS for the current year.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet said AI-related security demand is accelerating, which is supporting stronger sales momentum and leading management to lift guidance. Fortinet Rides AI-Led Surge to Lift Guidance
• Positive Sentiment: Analyst commentary continues to frame FTNT as a strong momentum name, citing billings growth, margin strength, and favorable estimate revisions tied to AI and SASE demand. Here’s Why Fortinet (FTNT) is a Strong Momentum Stock
• Positive Sentiment: Another bullish note argues Fortinet looks like the better cybersecurity buy versus Zscaler because of AI and SASE tailwinds and ongoing demand strength. Zscaler vs. Fortinet: Which Cybersecurity Stock Is the Better Buy?
• Neutral Sentiment: Fortinet also presented at J.P. Morgan’s Global Technology, Media and Communications Conference, which may have helped reinforce its growth story but did not include a clearly new catalyst. Fortinet, Inc. (FTNT) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript
• Negative Sentiment: DZ Bank downgraded Fortinet from Buy to Hold and set a $125 price target, signaling some caution on valuation and contributing pressure on the shares. Finviz report

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 2,478 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $88.89, for a total value of $220,269.42. Following the transaction, the vice president directly owned 9,927,517 shares of the company’s stock, valued at $882,456,986.13. This represents a 0.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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. Also, CEO Ken Xie sold 5,355 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $88.90, for a total value of $476,059.50. Following the completion of the transaction, the chief executive officer directly owned 52,978,004 shares in the company, valued at approximately $4,709,744,555.60. This represents a 0.01% 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. Corporate insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

FTNT has been the topic of several recent analyst reports. Wells Fargo & Company reaffirmed an “underweight” rating and set a $70.00 price target (up from $64.00) on shares of Fortinet in a research report on Thursday, May 7th. Stifel Nicolaus set a $85.00 target price on Fortinet in a report on Wednesday, March 11th. Arete Research set a $104.00 target price on Fortinet and gave the stock a “buy” rating in a report on Monday, April 27th. DZ Bank lowered Fortinet from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a report on Tuesday. Finally, Compass Point set a $100.00 target price on Fortinet in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-four have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $101.83.

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.