55,978 Shares in Fortinet, Inc. $FTNT Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC acquired a new position in Fortinet, Inc. (NASDAQ:FTNT) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 55,978 shares of the software maker’s stock, valued at approximately $4,575,000.

Other large investors also recently bought and sold shares of the company. Physician Wealth Advisors Inc. lifted its position in shares of Fortinet by 408.3% in the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after acquiring an additional 245 shares in the last quarter. Wexford Capital LP acquired a new stake in shares of Fortinet in the third quarter worth approximately $25,000. Elyxium Wealth LLC purchased a new stake in shares of Fortinet during the fourth quarter worth approximately $27,000. Palisade Asset Management LLC acquired a new position in Fortinet in the 3rd quarter valued at $28,000. Finally, Ares Financial Consulting LLC purchased a new position in Fortinet in the 4th quarter valued at $29,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FTNT has been the topic of several recent research reports. Barclays lifted their target price on shares of Fortinet from $155.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Monday, July 13th. Stephens set a $115.00 price target on shares of Fortinet and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped their price objective 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. UBS Group increased their price objective on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company reissued an “underweight” rating and issued a $120.00 target price (up from $70.00) on shares of Fortinet in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-three have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortinet presently has an average rating of “Hold” and an average price target of $115.58.

Fortinet Trading Down 0.8%

FTNT opened at $160.36 on Tuesday. The stock has a market capitalization of $117.49 billion, a PE ratio of 61.92, a P/E/G ratio of 4.39 and a beta of 1.09. Fortinet, Inc. has a one year low of $70.12 and a one year high of $170.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The business’s 50 day moving average price is $145.20 and its 200 day moving average price is $104.52.

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, 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 company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the firm earned $0.58 earnings per share. The firm’s quarterly 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 expect that Fortinet, Inc. will post 2.8 EPS for the current year.

Insider Buying and Selling

In related news, COO John Whittle sold 146,015 shares of the business’s stock in a transaction dated 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 directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the transaction, the chief executive officer directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by insiders.

Fortinet Company 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.