Aaron Wealth Advisors LLC Sells 9,585 Shares of Fortinet, Inc. $FTNT

Aaron Wealth Advisors LLC trimmed its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 63.6% in the first quarter, Holdings Channel reports. The institutional investor owned 5,474 shares of the software maker’s stock after selling 9,585 shares during the period. Aaron Wealth Advisors LLC’s holdings in Fortinet were worth $447,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in FTNT. Norges Bank acquired a new position in Fortinet in the fourth quarter valued at about $1,152,917,000. Van ECK Associates Corp grew its stake in Fortinet by 38.9% during the fourth quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock worth $613,915,000 after buying an additional 2,166,396 shares in the last quarter. First Trust Advisors LP grew its stake in Fortinet by 30.9% during the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock worth $636,962,000 after buying an additional 1,790,033 shares in the last quarter. AQR Capital Management LLC increased its holdings in Fortinet by 76.2% in the 4th quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock valued at $326,297,000 after buying an additional 1,777,115 shares during the period. Finally, Invesco Ltd. increased its holdings in Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after buying an additional 1,568,337 shares during the period. 83.71% of the stock is currently owned by institutional investors.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of the stock in a transaction 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 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 sale, the vice president owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. This trade represents a 0.04% 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 quarter. 17.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on FTNT shares. BTIG Research upped their price target on shares of Fortinet from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. DZ Bank downgraded shares of Fortinet from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research report on Tuesday, May 19th. Mizuho upped their target price on Fortinet from $70.00 to $86.00 and gave the stock an “underperform” rating in a research note on Thursday, May 7th. Barclays set a $155.00 target price on Fortinet and gave the company an “equal weight” rating in a report on Friday, June 12th. Finally, Bank of America boosted their target price on shares of Fortinet from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-five have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Fortinet presently has an average rating of “Hold” and a consensus price target of $107.77.

Fortinet Stock Performance

Shares of FTNT stock opened at $151.35 on Monday. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $152.77. 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 stock has a market cap of $110.89 billion, a price-to-earnings ratio of 58.44, a PEG ratio of 4.14 and a beta of 1.11. The stock has a 50-day moving average of $123.02 and a 200-day moving average of $95.70.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.62 by $0.20. The business had revenue of $1.85 billion for 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 firm’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the business posted $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. On average, equities research analysts forecast that Fortinet, Inc. will post 2.78 earnings per share for the current year.

About Fortinet

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.