Frank Rimerman Advisors LLC Purchases 3,825 Shares of Fortinet, Inc. $FTNT

Frank Rimerman Advisors LLC lifted its position in Fortinet, Inc. (NASDAQ:FTNT) by 29.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,768 shares of the software maker’s stock after purchasing an additional 3,825 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Fortinet were worth $1,370,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of FTNT. Expressive Wealth LLC acquired a new stake in Fortinet in the 4th quarter valued at $646,000. Trilogy Capital Inc. lifted its holdings in shares of Fortinet by 46.8% during the fourth quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock valued at $3,506,000 after acquiring an additional 14,076 shares during the period. Leonteq Securities AG bought a new position in shares of Fortinet during the fourth quarter valued at $10,422,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Fortinet during the fourth quarter valued at $14,638,000. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Fortinet by 156.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock valued at $31,009,000 after purchasing an additional 238,299 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Trading Up 4.5%

FTNT opened at $163.73 on Friday. 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 stock has a market capitalization of $119.96 billion, a PE ratio of 63.22, a PEG ratio of 4.26 and a beta of 1.09. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $164.01. The firm has a 50-day moving average price of $136.31 and a two-hundred day moving average price of $100.55.

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, topping 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 analyst estimates of $1.73 billion. During the same period in the prior year, the business earned $0.58 earnings per share. Fortinet’s quarterly revenue 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. As a group, equities analysts anticipate that Fortinet, Inc. will post 2.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FTNT has been the topic of several analyst reports. Rosenblatt Securities upped their target price on shares of Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. BTIG Research lifted their price target on shares of Fortinet from $125.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Mizuho boosted their price target on shares of Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a research report on Thursday, May 7th. Bank of America upped their price objective on shares of Fortinet from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Finally, Barclays set a $155.00 price objective on shares of Fortinet and gave the stock an “equal weight” rating in a report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $107.58.

Insider Buying and Selling

In other news, VP Michael Xie sold 3,907 shares of Fortinet 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 completion of the sale, the vice president directly owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the business’s 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 sale, the chief operating officer owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 318,387 shares of company stock worth $43,403,063 in the last quarter. Insiders own 17.60% of the company’s stock.

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.