Arrowstreet Capital Limited Partnership Increases Position in Fortinet, Inc. $FTNT

Arrowstreet Capital Limited Partnership raised its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 87.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,651,024 shares of the software maker’s stock after acquiring an additional 4,500,194 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Fortinet were worth $788,682,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Physician Wealth Advisors Inc. boosted its holdings in shares of Fortinet by 408.3% during the 1st 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 last quarter. Wexford Capital LP purchased a new position in Fortinet during the third quarter worth approximately $25,000. Elyxium Wealth LLC purchased a new position in Fortinet during the fourth quarter worth approximately $27,000. Palisade Asset Management LLC acquired a new position in Fortinet during the third quarter worth $28,000. Finally, Ares Financial Consulting LLC acquired a new position in Fortinet during the fourth quarter worth $29,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fortinet

In other Fortinet news, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the business’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 completion of the sale, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 318,387 shares of company stock valued at $43,403,063 over the last 90 days. 17.60% of the stock is owned by insiders.

Fortinet Price Performance

NASDAQ:FTNT opened at $151.54 on Friday. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $170.35. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $111.03 billion, a P/E ratio of 58.51, a P/E/G ratio of 4.22 and a beta of 1.09. The stock’s fifty day moving average is $147.43 and its two-hundred day moving average is $106.13.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The business had revenue of $1.85 billion during 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 company’s revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Equities analysts expect that Fortinet, Inc. will post 2.8 EPS for the current year.

Wall Street Analysts Forecast Growth

FTNT has been the subject of a number of recent research reports. Weiss Ratings raised Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Robert W. Baird set a $120.00 price target on shares of Fortinet in a research report on Tuesday. Mizuho set a $125.00 price objective on shares of Fortinet and gave the company an “underperform” rating in a report on Wednesday, July 15th. HSBC cut shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price objective for the company. in a research report on Monday, June 29th. Finally, Piper Sandler lifted their target price on shares of Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-four have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $123.61.

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.