Astoria Portfolio Advisors LLC. Takes $756,000 Position in Fortinet, Inc. $FTNT

Astoria Portfolio Advisors LLC. bought a new position in Fortinet, Inc. (NASDAQ:FTNT) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,001 shares of the software maker’s stock, valued at approximately $756,000.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in shares of Fortinet by 31.3% in the fourth quarter. Pacer Advisors Inc. now owns 339,482 shares of the software maker’s stock valued at $26,958,000 after purchasing an additional 81,025 shares in the last quarter. Kera Capital Partners Inc. purchased a new stake in Fortinet during the fourth quarter valued at $318,000. Walser Wealth Management Company A Ltd Liability Co bought a new position in Fortinet during the fourth quarter valued at $227,000. Virtu Financial LLC bought a new position in Fortinet during the fourth quarter valued at $848,000. Finally, MV Capital Management Inc. purchased a new position in shares of Fortinet in the 4th quarter worth $187,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FTNT. Truist Financial set a $120.00 target price on shares of Fortinet and gave the stock a “buy” rating in a report on Thursday, May 7th. Compass Point set a $100.00 price target on shares of Fortinet in a report on Monday, May 4th. Wells Fargo & Company reiterated an “underweight” rating and issued a $70.00 price target (up from $64.00) on shares of Fortinet in a research report on Thursday, May 7th. Rosenblatt Securities boosted their price objective on Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings upgraded Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Fortinet currently has a consensus rating of “Hold” and a consensus target price of $107.77.

Fortinet Stock Performance

FTNT stock opened at $144.73 on Friday. 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 business’s fifty day simple moving average is $114.89 and its two-hundred day simple moving average is $93.01. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $150.07. The firm has a market cap of $106.04 billion, a price-to-earnings ratio of 55.88, a PEG ratio of 3.95 and a beta of 1.11.

Fortinet (NASDAQ:FTNT) last issued 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. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business’s revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Analysts predict that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Insider Buying and Selling at Fortinet

In related news, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction that occurred 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 owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. This trade 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. Insiders sold a total of 318,387 shares of company stock valued at $43,403,063 in the last three months. Company insiders own 17.60% of the company’s stock.

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.