Granite Bay Wealth Management LLC Makes New $349,000 Investment in Fortinet, Inc. $FTNT

Granite Bay Wealth Management LLC acquired a new stake 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 firm acquired 4,276 shares of the software maker’s stock, valued at approximately $349,000.

Several other large investors have also recently made changes to their positions in the business. Optimist Retirement Group LLC raised its stake in Fortinet by 2.5% during the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock valued at $398,000 after buying an additional 122 shares during the last quarter. PDS Planning Inc lifted its holdings in shares of Fortinet by 3.1% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock valued at $326,000 after purchasing an additional 123 shares in the last quarter. GW&K Investment Management LLC boosted its holdings in shares of Fortinet by 31.4% during the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock valued at $41,000 after acquiring an additional 123 shares during the last quarter. Delta Investment Management LLC raised its stake in Fortinet by 2.4% during the 4th quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock valued at $417,000 after buying an additional 125 shares during the last quarter. Finally, Personal CFO Solutions LLC grew its holdings in shares of Fortinet by 5.0% in the first quarter. Personal CFO Solutions LLC now owns 2,670 shares of the software maker’s stock worth $218,000 after acquiring an additional 127 shares during the period. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FTNT has been the topic of a number of recent research reports. Wells Fargo & Company reissued an “underweight” rating and issued a $70.00 target price (up from $64.00) on shares of Fortinet in a report on Thursday, May 7th. Zacks Research lowered shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Weiss Ratings upgraded shares of Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. TD Cowen restated a “buy” rating and set a $160.00 target price (up from $125.00) on shares of Fortinet in a research report on Monday, June 8th. Finally, Stephens set a $115.00 target price on shares of Fortinet and gave the company an “equal weight” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, Fortinet has an average rating of “Hold” and an average target price of $108.74.

Fortinet Stock Down 3.8%

FTNT stock opened at $157.51 on Friday. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $165.28. 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 stock has a market cap of $115.40 billion, a P/E ratio of 60.81, a PEG ratio of 4.45 and a beta of 1.09. The business’s 50-day moving average price is $137.74 and its 200-day moving average price is $100.94.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1.73 billion. During the same period in the prior year, the firm posted $0.58 EPS. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. 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 2.8 EPS for the current year.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were 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 owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 stock in a transaction on 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 sale, the chief operating officer 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 318,387 shares of company stock valued at $43,403,063 over the last three months. Corporate 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.