Evolve Private Wealth LLC Grows Stock Holdings in Fortinet, Inc. $FTNT

Evolve Private Wealth LLC raised its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 34.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 15,622 shares of the software maker’s stock after buying an additional 3,967 shares during the quarter. Evolve Private Wealth LLC’s holdings in Fortinet were worth $1,277,000 at the end of the most recent reporting period.

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

Fortinet Stock Up 1.8%

Shares of NASDAQ FTNT opened at $148.00 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. The company has a market cap of $108.43 billion, a P/E ratio of 57.14, a PEG ratio of 3.98 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 firm has a 50-day simple moving average of $118.83 and a two-hundred day simple moving average of $94.35.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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%.The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous 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. Research analysts anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FTNT shares. Truist Financial set a $120.00 price objective on Fortinet and gave the stock a “buy” rating in a research note on Thursday, May 7th. TD Cowen reaffirmed a “buy” rating and issued a $160.00 price objective (up from $125.00) on shares of Fortinet in a research note on Monday, June 8th. Scotiabank lifted their target price on Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. BMO Capital Markets boosted their target price on Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. Finally, Stifel Nicolaus set a $85.00 price target on Fortinet in a report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $107.77.

Insider Activity at Fortinet

In related news, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction 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 in the company, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total value of $23,384,806.56. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at $7,711,717,915.76. This trade represents a 0.30% 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. Insiders sold a total of 318,387 shares of company stock worth $43,403,063 in the last quarter. 17.60% of the stock is owned by company insiders.

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.