Caprock Group LLC Invests $2.53 Million in Fortinet, Inc. $FTNT

Caprock Group LLC purchased a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) in the third quarter, Holdings Channel reports. The firm purchased 32,121 shares of the software maker’s stock, valued at approximately $2,530,000.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after acquiring an additional 221 shares during the last quarter. Bison Wealth LLC bought a new position in Fortinet during the 4th quarter valued at approximately $585,000. Sequoia Financial Advisors LLC lifted its holdings in Fortinet by 22.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 20,099 shares of the software maker’s stock worth $2,125,000 after buying an additional 3,706 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Fortinet by 5.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 21,246 shares of the software maker’s stock worth $2,246,000 after buying an additional 1,147 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc increased its stake in shares of Fortinet by 17.3% during the second quarter. AEGON ASSET MANAGEMENT UK Plc now owns 3,381 shares of the software maker’s stock valued at $357,000 after buying an additional 498 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on FTNT shares. Oppenheimer reaffirmed a “market perform” rating on shares of Fortinet in a research note on Friday, January 23rd. Citigroup reaffirmed a “neutral” rating and set a $90.00 target price (up previously from $85.00) on shares of Fortinet in a research note on Monday. Rosenblatt Securities boosted their price target on shares of Fortinet from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Barclays set a $88.00 price objective on shares of Fortinet in a report on Tuesday, February 3rd. Finally, Robert W. Baird set a $90.00 target price on Fortinet in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-two have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $89.07.

Insider Activity

In other Fortinet news, VP Michael Xie sold 343,106 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the completion of the sale, the vice president directly owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ken Xie sold 175,737 shares of Fortinet stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the completion of the transaction, the chief executive officer directly owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. This trade represents a 0.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 17.20% of the company’s stock.

Fortinet Stock Down 4.1%

FTNT stock opened at $84.26 on Friday. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $114.82. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. The firm has a market cap of $62.66 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 3.03 and a beta of 1.06. The business has a 50 day moving average of $80.59 and a 200 day moving average of $82.35.

Fortinet (NASDAQ:FTNT) last released its earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.74 by $0.07. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. On average, research analysts forecast that Fortinet, Inc. will post 2.09 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.