Fortinet, Inc. $FTNT Shares Sold by Burney Co.

Burney Co. reduced its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 61.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 76,275 shares of the software maker’s stock after selling 121,534 shares during the period. Burney Co.’s holdings in Fortinet were worth $6,233,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Ameriflex Group Inc. acquired a new position in shares of Fortinet in the third quarter worth $25,000. Physician Wealth Advisors Inc. raised its stake in shares of Fortinet by 408.3% in the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after acquiring an additional 245 shares in the last quarter. Wexford Capital LP purchased a new position in Fortinet in the third quarter valued at $25,000. Elyxium Wealth LLC purchased a new stake in Fortinet during the 4th quarter worth about $27,000. Finally, Palisade Asset Management LLC purchased a new stake in Fortinet during the 3rd quarter worth about $28,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the transaction, the vice president directly owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the transaction, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by company insiders.

Fortinet Stock Performance

NASDAQ FTNT opened at $162.35 on Tuesday. The company has a fifty day moving average of $131.84 and a two-hundred day moving average of $98.86. The company has a market capitalization of $118.95 billion, a PE ratio of 62.68, a P/E/G ratio of 4.28 and a beta of 1.09. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $163.57. 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 posted its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the firm 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, analysts expect that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FTNT. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 target price on shares of Fortinet in a research note on Thursday, May 7th. Scotiabank lifted their price target on shares of Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. Wells Fargo & Company reiterated an “underweight” rating and set a $70.00 price target (up from $64.00) on shares of Fortinet in a report on Thursday, May 7th. HSBC downgraded shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price objective on the stock. in a research report on Monday, June 29th. Finally, Stifel Nicolaus set a $85.00 price objective on shares of Fortinet in a report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $107.58.

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.