SHP Wealth Management Takes Position in Fortinet, Inc. $FTNT

SHP Wealth Management purchased a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) in the fourth quarter, Holdings Channel reports. The firm purchased 12,532 shares of the software maker’s stock, valued at approximately $995,000.

Other hedge funds have also bought and sold shares of the company. Pinnacle Holdings LLC purchased a new position in Fortinet in the third quarter worth $25,000. Ameriflex Group Inc. purchased a new stake in shares of Fortinet during the 3rd quarter valued at $25,000. Wexford Capital LP purchased a new stake in shares of Fortinet during the 3rd quarter valued at $25,000. Elyxium Wealth LLC bought a new stake in shares of Fortinet during the 4th quarter worth $27,000. Finally, Palisade Asset Management LLC bought a new stake in shares of Fortinet during the 3rd quarter worth $28,000. 83.71% of the stock is currently owned by institutional investors.

Insider Transactions at Fortinet

In other news, COO John Whittle sold 146,015 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were 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 $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 318,387 shares of company stock worth $43,403,063 over the last quarter. Corporate insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. BTIG Research increased their price target on shares of Fortinet from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Citigroup lifted their price objective on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, May 7th. Royal Bank Of Canada reissued a “sector perform” rating and set a $107.00 target price (up from $90.00) on shares of Fortinet in a research report on Thursday, May 7th. Finally, Susquehanna raised their price target on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-five have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $107.77.

Fortinet Price Performance

FTNT stock opened at $144.73 on Friday. The stock has a fifty day moving average of $116.11 and a 200-day moving average of $93.37. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $150.07. The company has a market capitalization of $106.04 billion, a price-to-earnings ratio of 55.88, a PEG ratio of 3.96 and a beta of 1.11. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The business had revenue of $1.85 billion for 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 quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, equities research analysts predict that Fortinet, Inc. will post 2.78 earnings per share for the current year.

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.