5,188 Shares in Fortinet, Inc. $FTNT Purchased by Andina Capital Management LLC

Andina Capital Management LLC acquired a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,188 shares of the software maker’s stock, valued at approximately $424,000.

A number of other institutional investors have also added to or reduced their stakes in FTNT. State Street Corp increased its position in shares of Fortinet by 1.6% during the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after purchasing an additional 477,397 shares during the last quarter. Norges Bank bought a new position in shares of Fortinet in the fourth quarter worth approximately $1,152,917,000. Bank of New York Mellon Corp grew its holdings in shares of Fortinet by 6.6% in the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock worth $1,151,810,000 after purchasing an additional 893,190 shares during the last quarter. Invesco Ltd. increased its stake in shares of Fortinet by 17.0% in the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after buying an additional 1,568,337 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Fortinet by 4.4% in the fourth quarter. First Trust Advisors LP now owns 7,907,686 shares of the software maker’s stock worth $627,949,000 after buying an additional 332,024 shares during the period. Institutional investors own 83.71% of the company’s stock.

Fortinet Trading Up 1.8%

FTNT opened at $148.00 on Wednesday. The stock has a market cap of $108.43 billion, a PE ratio of 57.14, a PEG ratio of 3.98 and a beta of 1.11. 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 has a 50 day moving average of $118.83 and a 200-day moving average of $94.35. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $150.07.

Fortinet (NASDAQ:FTNT) last posted 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 business 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 firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company 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. Equities research analysts predict that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal year.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of the business’s 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 sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was 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 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. Insiders have sold 318,387 shares of company stock valued at $43,403,063 in the last three months. 17.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FTNT shares. Stephens set a $115.00 price target on shares of Fortinet and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Scotiabank increased their price objective on Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. BMO Capital Markets lifted their price objective on Fortinet from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. DZ Bank cut Fortinet from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research note on Tuesday, May 19th. Finally, Rosenblatt Securities raised their price target on Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-five have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Fortinet currently has an average rating of “Hold” and a consensus price target of $107.77.

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.