Sunbelt Securities Inc. Has $1.20 Million Stake in Fortinet, Inc. $FTNT

Sunbelt Securities Inc. lowered its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 28.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,088 shares of the software maker’s stock after selling 6,114 shares during the period. Sunbelt Securities Inc.’s holdings in Fortinet were worth $1,198,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its position in Fortinet by 1.6% in the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after purchasing an additional 477,397 shares during the last quarter. Norges Bank bought a new stake in shares of Fortinet during the fourth quarter worth about $1,152,917,000. Bank of New York Mellon Corp increased its stake in shares of Fortinet by 6.6% in the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock valued at $1,151,810,000 after buying an additional 893,190 shares during the period. Invesco Ltd. increased its stake in shares of Fortinet by 17.0% in the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after buying an additional 1,568,337 shares during the period. Finally, First Trust Advisors LP raised its holdings in Fortinet by 4.4% in the 4th quarter. First Trust Advisors LP now owns 7,907,686 shares of the software maker’s stock valued at $627,949,000 after buying an additional 332,024 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Activity

In related news, COO John Whittle sold 146,015 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the transaction, the chief operating officer owned 94,724 shares in the company, valued at $12,163,508.84. The trade was a 60.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ken Xie sold 160,632 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 318,387 shares of company stock worth $43,403,063 in the last quarter. 17.60% of the stock is owned by corporate insiders.

Fortinet Price Performance

Shares of Fortinet stock opened at $144.73 on Friday. The stock’s 50-day moving average is $116.11 and its 200 day moving average is $93.37. Fortinet, Inc. has a one year low of $70.12 and a one year high of $150.07. The firm has a market cap of $106.04 billion, a price-to-earnings ratio of 55.88, a PEG ratio of 3.96 and a beta of 1.11. 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 issued its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the company posted $0.58 earnings per share. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Equities research analysts anticipate that Fortinet, Inc. will post 2.78 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on FTNT. Barclays set a $155.00 target price on shares of Fortinet and gave the stock an “equal weight” rating in a research report on Friday, June 12th. UBS Group raised their price target on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Rosenblatt Securities lifted their price target on shares of Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. DZ Bank lowered shares of Fortinet from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a report on Tuesday, May 19th. Finally, Wells Fargo & Company reissued an “underweight” rating and issued a $70.00 price objective (up from $64.00) on shares of Fortinet in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $107.77.

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.