EverSource Wealth Advisors LLC Acquires 4,629 Shares of Fortinet, Inc. $FTNT

EverSource Wealth Advisors LLC increased its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 156.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,580 shares of the software maker’s stock after purchasing an additional 4,629 shares during the period. EverSource Wealth Advisors LLC’s holdings in Fortinet were worth $602,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Fortinet by 4.0% in the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after purchasing an additional 2,894,355 shares in the last quarter. State Street Corp boosted its holdings in Fortinet by 1.6% in the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after purchasing an additional 477,397 shares in the last quarter. Invesco Ltd. boosted its holdings in Fortinet by 17.0% in the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after purchasing an additional 1,568,337 shares in the last quarter. First Trust Advisors LP boosted its holdings in Fortinet by 30.9% in the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock worth $636,962,000 after purchasing an additional 1,790,033 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Fortinet by 4.7% in the third quarter. Legal & General Group Plc now owns 6,115,450 shares of the software maker’s stock worth $514,187,000 after purchasing an additional 273,428 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on FTNT. Scotiabank upped their price target on shares of Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Sanford C. Bernstein restated a “market perform” rating and set a $83.00 price target on shares of Fortinet in a report on Friday, February 6th. Jefferies Financial Group set a $90.00 price target on shares of Fortinet in a report on Friday, February 6th. Zacks Research upgraded shares of Fortinet from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 14th. Finally, Mizuho upped their price target on shares of Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Fortinet presently has an average rating of “Hold” and a consensus price target of $102.69.

Fortinet Stock Up 0.0%

FTNT stock opened at $133.96 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $134.91. The company has a 50-day moving average of $94.07 and a two-hundred day moving average of $85.58. The stock has a market capitalization of $98.15 billion, a price-to-earnings ratio of 51.72, a price-to-earnings-growth ratio of 3.68 and a beta of 0.92.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. 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 anticipate that Fortinet, Inc. will post 2.77 EPS for the current year.

Insider Activity

In other news, VP Michael Xie sold 2,478 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $88.89, for a total transaction of $220,269.42. Following the completion of the transaction, the vice president owned 9,927,517 shares of the company’s stock, valued at approximately $882,456,986.13. This represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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, CEO Ken Xie sold 5,355 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $88.90, for a total transaction of $476,059.50. Following the transaction, the chief executive officer directly owned 52,978,004 shares of the company’s stock, valued at $4,709,744,555.60. This represents a 0.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last 90 days, insiders sold 153,848 shares of company stock valued at $19,446,115. Insiders own 17.60% of the company’s stock.

About Fortinet

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.