296,474 Shares in Fortinet, Inc. $FTNT Acquired by Aware Super Pty Ltd as trustee of Aware Super

Aware Super Pty Ltd as trustee of Aware Super bought a new position in Fortinet, Inc. (NASDAQ:FTNT) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 296,474 shares of the software maker’s stock, valued at approximately $24,228,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Physician Wealth Advisors Inc. increased its position in Fortinet by 408.3% during the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after acquiring an additional 245 shares during the last quarter. Wexford Capital LP purchased a new position in Fortinet in the third quarter worth about $25,000. Elyxium Wealth LLC bought a new stake in shares of Fortinet during the 4th quarter valued at about $27,000. Palisade Asset Management LLC bought a new stake in shares of Fortinet during the 3rd quarter valued at about $28,000. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Fortinet during the 4th quarter valued at about $29,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Fortinet Stock Down 2.3%

FTNT stock opened at $160.78 on Friday. The business’s 50-day moving average price is $143.35 and its 200-day moving average price is $103.39. The stock has a market cap of $117.80 billion, a P/E ratio of 62.08, a PEG ratio of 4.47 and a beta of 1.09. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $170.35.

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.

Insiders Place Their Bets

In other news, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the transaction, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $7,711,717,915.76. This trade represents a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 318,387 shares of company stock worth $43,403,063. Corporate insiders own 17.60% of the company’s stock.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet was upgraded by Zacks Research from hold to strong-buy, signaling stronger earnings optimism and a potentially more favorable near-term trading setup. Article Title
• Positive Sentiment: Several articles highlighted Fortinet as a beneficiary of rising cybersecurity demand, especially as AI infrastructure spending and global threat concerns keep security budgets elevated. Article Title
• Positive Sentiment: Coverage on Fortinet’s AI security initiatives, including the expansion of FortiEndpoint and broader AI cybersecurity positioning, is reinforcing the growth narrative around the stock. Article Title
• Positive Sentiment: Fortinet’s selection of TD SYNNEX as a global delivery/distribution partner adds another sign of expanding channel reach and customer access. Article Title
• Neutral Sentiment: MarketWatch noted that Fortinet has been outperforming peers despite weakness in the broader session, suggesting relative strength rather than a fresh fundamental catalyst. Article Title
• Neutral Sentiment: Some commentary compared Fortinet with peers like Palo Alto and Microsoft, but also raised valuation concerns after a strong multi-year run, which may cap upside if growth does not keep pace. Article Title

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FTNT shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price objective on shares of Fortinet in a research note on Tuesday, April 21st. HSBC lowered shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 target price for the company. in a research report on Monday, June 29th. Bank of America increased their price target on shares of Fortinet from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Wells Fargo & Company reiterated an “underweight” rating and set a $70.00 price target (up from $64.00) on shares of Fortinet in a research note on Thursday, May 7th. Finally, BMO Capital Markets boosted their price objective on shares of Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-three have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $113.97.

Fortinet 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.