Transamerica Financial Advisors LLC Takes Position in Fortinet, Inc. $FTNT

Transamerica Financial Advisors LLC purchased a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 3,201 shares of the software maker’s stock, valued at approximately $492,000.

Other institutional investors have also bought and sold shares of the company. Expressive Wealth LLC purchased a new position in shares of Fortinet in the 4th quarter worth about $646,000. Leonteq Securities AG bought a new position in shares of Fortinet during the 4th quarter valued at about $10,422,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Fortinet during the 4th quarter valued at about $14,638,000. Thrivent Financial for Lutherans lifted its position in Fortinet by 156.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock worth $31,009,000 after buying an additional 238,299 shares during the last quarter. Finally, Westerkirk Capital Inc. lifted its position in Fortinet by 41.9% in the 4th quarter. Westerkirk Capital Inc. now owns 52,500 shares of the software maker’s stock worth $4,169,000 after buying an additional 15,500 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Weiss Ratings cut shares of Fortinet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, August 20th. HSBC lowered shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price objective for the company. in a report on Monday, June 29th. Evercore set a $165.00 target price on shares of Fortinet in a report on Thursday, July 30th. Truist Financial set a $183.00 target price on shares of Fortinet and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, Robert W. Baird set a $165.00 price target on shares of Fortinet in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twenty have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $150.91.

Fortinet Stock Performance

Shares of FTNT stock opened at $157.54 on Thursday. The company has a market capitalization of $115.59 billion, a P/E ratio of 55.47, a PEG ratio of 2.91 and a beta of 1.07. Fortinet, Inc. has a fifty-two week low of $73.55 and a fifty-two week high of $172.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. The stock has a 50 day moving average price of $156.69 and a two-hundred day moving average price of $119.45.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (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 firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the business earned $0.64 earnings per share. The business’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. Analysts expect that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Insiders Place Their Bets

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their position. The sale was disclosed in a legal filing 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Xie sold 3,121 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the transaction, the vice president owned 9,918,360 shares in the company, valued at $1,613,022,886.80. The trade was a 0.03% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 329,142 shares of company stock worth $50,731,178. Insiders own 17.60% of the company’s stock.

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.