Cerity Partners LLC Increases Stake in Fortinet, Inc. $FTNT

Cerity Partners LLC lifted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 33.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 356,949 shares of the software maker’s stock after acquiring an additional 88,962 shares during the period. Cerity Partners LLC’s holdings in Fortinet were worth $28,345,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Pinnacle Holdings LLC purchased a new position in shares of Fortinet during the 3rd quarter worth $25,000. Ameriflex Group Inc. purchased a new position in shares of Fortinet during the 3rd quarter worth $25,000. Wexford Capital LP purchased a new position in shares of Fortinet during the 3rd quarter worth $25,000. Palisade Asset Management LLC purchased a new position in shares of Fortinet during the 3rd quarter worth $28,000. Finally, Elyxium Wealth LLC purchased a new position in shares of Fortinet during the 4th quarter worth $27,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Zacks Research upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 14th. TD Cowen reiterated a “buy” rating and set a $160.00 price target (up from $125.00) on shares of Fortinet in a report on Monday. Weiss Ratings lowered Fortinet from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 19th. Truist Financial set a $120.00 price objective on Fortinet and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 price objective on shares of Fortinet in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Fortinet has a consensus rating of “Hold” and an average target price of $106.43.

Fortinet Stock Up 0.4%

Shares of NASDAQ:FTNT opened at $138.88 on Thursday. The business has a 50-day moving average price of $107.23 and a 200 day moving average price of $90.23. 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 capitalization of $101.75 billion, a price-to-earnings ratio of 53.62, a PEG ratio of 3.79 and a beta of 1.11. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $150.07.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data 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. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the company earned $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. Sell-side analysts expect that Fortinet, Inc. will post 2.78 EPS for the current year.

Insider Buying and Selling at Fortinet

In other Fortinet news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction dated 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 completion of the transaction, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at $12,163,508.84. The trade was a 60.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the transaction, the vice president directly owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 318,387 shares of company stock valued at $43,403,063 in the last three months. 17.60% of the stock is owned by corporate insiders.

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.