111 Capital Buys 4,379 Shares of Fortinet, Inc. $FTNT

111 Capital lifted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 87.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,399 shares of the software maker’s stock after purchasing an additional 4,379 shares during the quarter. 111 Capital’s holdings in Fortinet were worth $746,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FTNT. Norges Bank bought a new stake in shares of Fortinet during the 4th quarter valued at $1,152,917,000. Vanguard Group Inc. grew its position in Fortinet by 4.0% during the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after buying an additional 2,894,355 shares in the last quarter. Van ECK Associates Corp grew its position in Fortinet by 62.1% during the third quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker’s stock worth $467,868,000 after buying an additional 2,132,109 shares in the last quarter. First Trust Advisors LP grew its position in Fortinet by 30.9% during the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock worth $636,962,000 after buying an additional 1,790,033 shares in the last quarter. Finally, Invesco Ltd. grew its position in Fortinet by 17.0% during the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after buying an additional 1,568,337 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fortinet

In other Fortinet news, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction that occurred 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 owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. This represents a 0.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following the transaction, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at $12,163,508.84. The trade was a 60.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 318,387 shares of company stock valued at $43,403,063 in the last 90 days. Insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on FTNT. Barclays set a $115.00 target price on Fortinet and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Scotiabank boosted their target price on Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Weiss Ratings cut Fortinet from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 19th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $83.00 price objective on shares of Fortinet in a report on Friday, February 6th. Finally, Mizuho upped their price objective on Fortinet from $70.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $102.69.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet’s latest quarterly results beat expectations, with EPS and revenue both coming in ahead of analyst forecasts, while management also raised full-year 2026 guidance.
• Positive Sentiment: Investors are rewarding Fortinet’s AI security push, including new AI-focused products and its positioning as a converged security and networking platform.
• Positive Sentiment: Momentum remains strong after the earnings report, with commentary noting the stock has surged substantially over the past month and is continuing to attract attention from traders and growth investors.
• Neutral Sentiment: Recent articles focused on whether the rally can continue, highlighting valuation questions and the need for future earnings estimates to keep improving.
• Negative Sentiment: There was a small insider sale by VP Michael Xie, though it was pre-arranged under a 10b5-1 plan and therefore appears more routine than concerning.

Fortinet Trading Down 3.3%

Shares of FTNT stock opened at $144.68 on Friday. The stock has a market capitalization of $106.00 billion, a PE ratio of 55.86, a P/E/G ratio of 4.10 and a beta of 1.11. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $150.07. The business has a 50-day moving average of $103.59 and a 200 day moving average of $88.89. 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 (NASDAQ:FTNT) last released its quarterly earnings results 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 return on equity of 160.08% and a net margin of 27.49%.Fortinet’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.58 EPS. 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, sell-side analysts anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current 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.