CFO Capital Management LLC Trims Stake in Fortinet, Inc. $FTNT

CFO Capital Management LLC lessened its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 52.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,362 shares of the software maker’s stock after selling 4,831 shares during the period. CFO Capital Management LLC’s holdings in Fortinet were worth $356,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wexford Capital LP acquired a new position in Fortinet in the third quarter valued at about $25,000. Physician Wealth Advisors Inc. raised its stake in shares of Fortinet by 408.3% in the 1st 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 during the period. Palisade Asset Management LLC purchased a new stake in shares of Fortinet in the 3rd quarter valued at approximately $28,000. Elyxium Wealth LLC purchased a new position in shares of Fortinet during the 4th quarter worth approximately $27,000. Finally, Maseco LLP purchased a new position in shares of Fortinet during the 1st quarter worth approximately $29,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fortinet

In other news, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. 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 corporate insiders.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet announced new capabilities for its FortiEndpoint platform aimed at helping organizations securely adopt AI, protect sensitive data, improve risk visibility, and simplify operations, which reinforces the company’s product momentum. Fortinet Expands FortiEndpoint with New Capabilities for the AI Era
• Positive Sentiment: Fortinet is benefiting from a sector-wide cybersecurity rally, with peers such as Palo Alto Networks and Check Point also moving higher as investors react to IBM’s cybersecurity-related spending warning. PANW, FTNT, CHKP: Palo Alto, Fortinet, Check Point Gain as IBM Stock Plunges — Here’s Why
• Positive Sentiment: Barclays recently raised its price target on Fortinet to $170, signaling continued analyst confidence even though the firm kept an equal-weight rating. Read More
• Neutral Sentiment: Fortinet also appeared in a new “buy recommendation” note, adding to investor attention but without clear details in the headline provided. Fortinet (FTNT): New Buy Recommendation for This Technology Giant
• Neutral Sentiment: Recent trading has also shown Fortinet outperforming the broader market, suggesting momentum was already positive before today’s news flow. Fortinet (FTNT) Gains As Market Dips: What You Should Know

Analysts Set New Price Targets

A number of brokerages have issued reports on FTNT. Robert W. Baird set a $115.00 target price on Fortinet in a research report on Thursday, May 7th. Scotiabank raised their price target on Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Bank of America lifted their price objective on Fortinet from $130.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 price objective on shares of Fortinet in a report on Thursday, May 7th. Finally, DZ Bank cut Fortinet from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $111.00.

Fortinet Stock Up 3.9%

Fortinet stock opened at $166.83 on Wednesday. The firm has a market capitalization of $122.23 billion, a P/E ratio of 64.41, a P/E/G ratio of 4.37 and a beta of 1.09. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $167.27. The stock’s fifty day simple moving average is $140.80 and its 200-day simple moving average is $102.24.

Fortinet (NASDAQ:FTNT) last released its earnings results 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 firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the business posted $0.58 earnings per share. Fortinet’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, equities analysts expect that Fortinet, Inc. will post 2.8 earnings per share for the current fiscal year.

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.