Westerkirk Capital Inc. Buys 15,500 Shares of Fortinet, Inc. $FTNT

Posted by Francis Steltz on Jun 9th, 2026

Westerkirk Capital Inc. increased its stake in Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 41.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,500 shares of the software maker’s stock after acquiring an additional 15,500 shares during the period. Westerkirk Capital Inc.’s holdings in Fortinet were worth $4,169,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of FTNT. Norges Bank bought a new stake in shares of Fortinet in the 4th quarter valued at about $1,152,917,000. Vanguard Group Inc. lifted its stake in shares of Fortinet by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after acquiring an additional 2,894,355 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Fortinet by 62.1% in the 3rd quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker’s stock valued at $467,868,000 after acquiring an additional 2,132,109 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Fortinet by 30.9% in the 3rd quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock valued at $636,962,000 after acquiring an additional 1,790,033 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of 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 acquiring an additional 1,568,337 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling at Fortinet

In other Fortinet news, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the transaction, the vice president owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 that occurred 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 transaction, the chief operating officer owned 94,724 shares in the company, valued at $12,163,508.84. This trade represents a 60.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 318,387 shares of company stock valued at $43,403,063 in the last 90 days. Insiders own 17.60% of the company’s stock.

Fortinet Trading Down 1.1%

FTNT opened at $143.04 on Tuesday. The business has a 50 day simple moving average of $104.83 and a two-hundred day simple moving average of $89.39. The firm has a market capitalization of $104.80 billion, a price-to-earnings ratio of 55.23, a PEG ratio of 3.96 and a beta of 1.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. Fortinet, Inc. has a one year low of $70.12 and a one year high of $150.07.

Fortinet (NASDAQ:FTNT – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.Fortinet’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Analysts predict that Fortinet, Inc. will post 2.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FTNT. Citigroup boosted their target price on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Morgan Stanley reissued an “underweight” rating and issued a $80.00 target price on shares of Fortinet in a research note on Thursday, May 7th. Bank of America boosted their target price on Fortinet from $130.00 to $180.00 and gave the company a “buy” rating in a research note on Monday. Royal Bank Of Canada reissued a “sector perform” rating and issued a $107.00 target price (up from $90.00) on shares of Fortinet in a research note on Thursday, May 7th. Finally, Susquehanna upped their price target on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $106.43.

Get Our Latest Research Report on Fortinet

Fortinet Company Profile

(Free Report)

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.