UNIVEST FINANCIAL Corp Invests $11.03 Million in Fortinet, Inc. $FTNT

UNIVEST FINANCIAL Corp bought a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 71,812 shares of the software maker’s stock, valued at approximately $11,032,000.

Several other institutional investors have also bought and sold shares of FTNT. Dunhill Financial LLC acquired a new position in Fortinet during the second quarter worth $25,000. Elevation Wealth Partners LLC boosted its stake in shares of Fortinet by 53.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock valued at $33,000 after purchasing an additional 75 shares in the last quarter. Wexford Capital LP acquired a new stake in shares of Fortinet in the 3rd quarter valued at $25,000. Physician Wealth Advisors Inc. grew its holdings 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 worth $25,000 after purchasing an additional 245 shares during the last quarter. Finally, Palisade Asset Management LLC bought a new stake in shares of Fortinet in the 3rd quarter worth about $28,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Down 2.6%

Shares of NASDAQ:FTNT opened at $155.85 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The firm has a market cap of $114.35 billion, a P/E ratio of 54.88, a P/E/G ratio of 3.03 and a beta of 1.07. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $172.09. The company’s 50-day moving average price is $155.31 and its two-hundred day moving average price is $115.83.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was up 25.6% on a year-over-year basis. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, research analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

Insider Buying and Selling at Fortinet

In other news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction 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 completion of the sale, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president owned 9,923,610 shares of the company’s stock, valued at approximately $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. In the last ninety days, insiders have sold 475,157 shares of company stock worth $69,480,964. Insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

FTNT has been the subject of several analyst reports. Citigroup lifted their price target on shares of Fortinet from $165.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Royal Bank Of Canada set a $185.00 price objective on shares of Fortinet and gave the stock a “sector perform” rating in a report on Thursday, July 30th. The Goldman Sachs Group reiterated a “buy” rating and issued a $190.00 target price on shares of Fortinet in a research note on Thursday, July 30th. Truist Financial set a $183.00 target price on Fortinet and gave the stock a “buy” rating in a report on Tuesday, July 21st. Finally, BTIG Research increased their price target on Fortinet from $186.00 to $203.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $150.91.

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.