Fortinet, Inc. $FTNT Shares Bought by Cerity Partners LLC

Cerity Partners LLC raised its position in Fortinet, Inc. (NASDAQ:FTNT) by 33.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,949 shares of the software maker’s stock after acquiring an additional 88,962 shares during the quarter. Cerity Partners LLC’s holdings in Fortinet were worth $28,345,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in 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 acquiring an additional 2,894,355 shares in the last quarter. State Street Corp grew its position in shares of Fortinet by 1.6% during the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after buying an additional 477,397 shares in the last quarter. Norges Bank acquired a new position in shares of Fortinet during the fourth quarter worth about $1,152,917,000. Bank of New York Mellon Corp grew its position in shares of Fortinet by 6.6% during the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock worth $1,151,810,000 after buying an additional 893,190 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Fortinet by 17.0% during the third 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. 83.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FTNT has been the subject of a number of analyst reports. Compass Point set a $100.00 price objective on Fortinet in a research report on Monday, May 4th. Morgan Stanley reissued an “underweight” rating and set a $80.00 price objective on shares of Fortinet in a research report on Thursday, May 7th. Robert W. Baird set a $115.00 price objective on Fortinet in a research report on Thursday, May 7th. Citigroup boosted their price objective on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, BTIG Research boosted their price objective on Fortinet from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Fortinet currently has a consensus rating of “Hold” and an average price target of $106.43.

Insider Buying and Selling

In related news, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the sale, the chief operating officer 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 position. The SEC filing for this sale provides additional information. Insiders sold a total of 318,387 shares of company stock worth $43,403,063 over the last 90 days. 17.60% of the stock is owned by insiders.

Fortinet Price Performance

FTNT stock opened at $138.88 on Thursday. The business has a 50 day moving average price of $107.23 and a 200 day moving average price of $90.23. The stock has a market cap of $101.75 billion, a price-to-earnings ratio of 53.62, a PEG ratio of 3.79 and a beta of 1.11. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $150.07. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT) last posted its 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. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 earnings per share. 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 anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal year.

Fortinet 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.