Fortinet (NASDAQ:FTNT) Hits New 1-Year High – Here’s What Happened

Fortinet, Inc. (NASDAQ:FTNT) hit a new 52-week high during trading on Tuesday . The company traded as high as $163.57 and last traded at $162.35, with a volume of 5161813 shares changing hands. The stock had previously closed at $156.25.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FTNT. Wells Fargo & Company reissued an “underweight” rating and issued a $70.00 price objective (up from $64.00) on shares of Fortinet in a research report on Thursday, May 7th. Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 price objective on shares of Fortinet in a report on Thursday, May 7th. BTIG Research upped their price objective on Fortinet from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Rosenblatt Securities lifted 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, Royal Bank Of Canada reissued a “sector perform” rating and set a $107.00 price target (up from $90.00) on shares of Fortinet in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $107.58.

Fortinet Stock Performance

The stock has a market capitalization of $118.95 billion, a P/E ratio of 62.68, a PEG ratio of 4.28 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. The stock’s 50-day simple moving average is $131.84 and its 200 day simple moving average is $98.86.

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

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 3,907 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was 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 approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 90 days. Corporate insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Fortinet

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Fortinet in the fourth quarter valued at approximately $1,152,917,000. Arrowstreet Capital Limited Partnership grew its position in shares of Fortinet by 87.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock valued at $788,682,000 after purchasing an additional 4,500,194 shares in the last quarter. First Trust Advisors LP increased its position in shares of Fortinet by 45.5% in the first quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock worth $940,284,000 after purchasing an additional 3,598,487 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Fortinet by 38.9% during the 4th quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock valued at $613,915,000 after purchasing an additional 2,166,396 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Fortinet by 76.2% in the fourth quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock worth $326,297,000 after buying an additional 1,777,115 shares during the period. 83.71% of the stock is owned by hedge funds and other institutional investors.

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.