Diversified Trust Co Acquires 4,526 Shares of Fortinet, Inc. $FTNT

Diversified Trust Co grew its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 22.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 24,347 shares of the software maker’s stock after purchasing an additional 4,526 shares during the period. Diversified Trust Co’s holdings in Fortinet were worth $1,990,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Pinnacle Holdings LLC purchased a new position in Fortinet during the third quarter valued at $25,000. Ameriflex Group Inc. purchased a new stake in shares of Fortinet in the third quarter worth $25,000. Wexford Capital LP bought a new position in shares of Fortinet during the third quarter valued at $25,000. Palisade Asset Management LLC purchased a new position in shares of Fortinet in the 3rd quarter worth about $28,000. Finally, Elyxium Wealth LLC purchased a new position in shares of Fortinet in the 4th quarter worth about $27,000. 83.71% of the stock is owned by institutional investors.

Fortinet Stock Performance

Shares of FTNT stock opened at $145.39 on Tuesday. The company has a 50 day moving average price of $117.41 and a 200-day moving average price of $93.89. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $150.07. The firm has a market capitalization of $106.52 billion, a PE ratio of 56.14, a P/E/G ratio of 3.96 and a beta of 1.11. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm earned $0.58 earnings per share. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. 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 expect that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on FTNT shares. Bank of America raised their price objective on shares of Fortinet from $130.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Truist Financial set a $120.00 target price on shares of Fortinet and gave the stock a “buy” rating in a research note on Thursday, May 7th. Rosenblatt Securities increased their price target on shares of Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 price target on shares of Fortinet in a research report on Tuesday, April 21st. Finally, DZ Bank lowered shares of Fortinet from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-five have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $107.77.

Insider Activity

In other news, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the transaction, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the sale, 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 have sold 318,387 shares of company stock valued at $43,403,063 in the last ninety days. 17.60% of the stock is currently owned by company insiders.

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.