6,487 Shares in Fortinet, Inc. $FTNT Bought by Western Wealth Management LLC

Western Wealth Management LLC bought a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the first quarter, Holdings Channel reports. The fund bought 6,487 shares of the software maker’s stock, valued at approximately $530,000.

Several other hedge funds have also modified their holdings of the stock. Physician Wealth Advisors Inc. boosted its position in shares of Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after purchasing an additional 245 shares during the period. Wexford Capital LP acquired a new stake in Fortinet during the 3rd quarter worth about $25,000. Elyxium Wealth LLC acquired a new stake in Fortinet during the 4th quarter worth about $27,000. Palisade Asset Management LLC purchased a new stake in Fortinet during the third quarter valued at about $28,000. Finally, Ares Financial Consulting LLC purchased a new stake in Fortinet during the fourth quarter valued at about $29,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wells Fargo & Company set a $135.00 target price on shares of Fortinet and gave the stock an “underweight” rating in a research report on Thursday. Morgan Stanley restated a “positive” rating and issued a $136.00 price target (up from $133.00) on shares of Fortinet in a research report on Thursday. Evercore set a $165.00 price objective on shares of Fortinet in a research note on Thursday. Royal Bank Of Canada set a $185.00 price objective on shares of Fortinet and gave the stock a “sector perform” rating in a research report on Thursday. Finally, Mizuho set a $125.00 target price on shares of Fortinet and gave the company an “underperform” rating in a research note on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $150.91.

Insiders Place Their Bets

In other news, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction on 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 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 transaction, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents 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 a total of 310,554 shares of company stock worth $42,706,734 in the last quarter. 17.60% of the stock is currently owned by corporate insiders.

Fortinet Price Performance

Shares of FTNT opened at $163.21 on Tuesday. The company has a market capitalization of $119.75 billion, a price-to-earnings ratio of 57.47, a P/E/G ratio of 3.93 and a beta of 1.07. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $170.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. The business’s 50-day moving average is $151.09 and its 200-day moving average is $109.91.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Equities research analysts expect that Fortinet, Inc. will post 2.82 EPS for the current fiscal year.

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.