HB Wealth Management LLC Has $2.28 Million Position in Fortinet, Inc. $FTNT

HB Wealth Management LLC boosted its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 38.9% in the first quarter, Holdings Channel reports. The institutional investor owned 27,906 shares of the software maker’s stock after buying an additional 7,815 shares during the period. HB Wealth Management LLC’s holdings in Fortinet were worth $2,281,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in FTNT. Ameriflex Group Inc. acquired a new position in Fortinet in the 3rd quarter valued at approximately $25,000. Wexford Capital LP bought a new position in shares of Fortinet during the third quarter valued at $25,000. Physician Wealth Advisors Inc. lifted its holdings in shares of Fortinet by 408.3% during the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after purchasing an additional 245 shares during the period. Palisade Asset Management LLC acquired a new position in shares of Fortinet during the third quarter worth $28,000. Finally, Elyxium Wealth LLC bought a new stake in shares of Fortinet in the fourth quarter worth $27,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fortinet

In other news, COO John Whittle sold 146,015 shares of the firm’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 transaction of $18,749,786.15. Following the completion of the sale, the chief operating officer owned 94,724 shares of the company’s stock, valued at $12,163,508.84. This trade represents a 60.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction on Tuesday, June 2nd. The shares were 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. This represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FTNT shares. Wells Fargo & Company restated an “underweight” rating and issued a $70.00 price objective (up from $64.00) on shares of Fortinet in a report on Thursday, May 7th. Rosenblatt Securities increased their price target on Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. BTIG Research raised their price objective on Fortinet from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Arete Research set a $104.00 price objective on Fortinet and gave the stock a “buy” rating in a research note on Monday, April 27th. Finally, Truist Financial set a $120.00 target price on Fortinet and gave the company a “buy” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $107.58.

Fortinet Stock Performance

Shares of Fortinet stock opened at $162.35 on Tuesday. The business has a 50-day moving average price of $131.84 and a two-hundred day moving average price of $98.86. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $163.57. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The company has a market cap of $118.95 billion, a P/E ratio of 62.68, a PEG ratio of 4.28 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business earned $0.58 EPS. The firm’s revenue 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, analysts anticipate that Fortinet, Inc. will post 2.78 EPS for the current year.

About Fortinet

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.