Shelton Wealth Management LLC Purchases Shares of 10,455 Fortinet, Inc. $FTNT

Shelton Wealth Management LLC purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,455 shares of the software maker’s stock, valued at approximately $854,000.

Other large investors have also recently modified their holdings of the company. Ameriflex Group Inc. acquired a new stake in shares of Fortinet in the 3rd quarter worth $25,000. Wexford Capital LP acquired a new position in Fortinet during the 3rd quarter valued at about $25,000. Physician Wealth Advisors Inc. increased its position in Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after buying an additional 245 shares in the last quarter. Palisade Asset Management LLC purchased a new stake in Fortinet in the third quarter valued at about $28,000. Finally, Elyxium Wealth LLC purchased a new stake in Fortinet in the fourth quarter valued at about $27,000. Institutional investors own 83.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FTNT shares. JPMorgan Chase & Co. boosted their price target on Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, May 7th. Arete Research set a $104.00 price objective on shares of Fortinet and gave the company a “buy” rating in a research report on Monday, April 27th. Robert W. Baird set a $115.00 target price on shares of Fortinet in a research note on Thursday, May 7th. Stephens set a $115.00 target price on shares of Fortinet and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Finally, HSBC cut shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price target for the company. in a report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, Fortinet currently has an average rating of “Hold” and a consensus target price of $107.58.

Insiders Place Their Bets

In related news, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at $7,711,717,915.76. The trade was a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the transaction, the vice president directly owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 318,387 shares of company stock worth $43,403,063. Company insiders own 17.60% of the company’s stock.

Fortinet Stock Performance

Shares of FTNT stock traded down $1.87 on Tuesday, hitting $160.48. The company had a trading volume of 1,806,726 shares, compared to its average volume of 6,552,497. The firm has a market cap of $117.58 billion, a P/E ratio of 61.91, a price-to-earnings-growth ratio of 4.28 and a beta of 1.09. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $163.57. The company has a 50-day moving average price of $131.84 and a 200-day moving average price of $98.86. 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 (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the business posted $0.58 EPS. The business’s revenue 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. As a group, equities research analysts predict that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal 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.