Gallacher Capital Management LLC cut its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 52.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,449 shares of the software maker’s stock after selling 4,891 shares during the period. Gallacher Capital Management LLC’s holdings in Fortinet were worth $364,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in FTNT. Optimist Retirement Group LLC boosted its position in Fortinet by 2.5% during the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock worth $398,000 after acquiring an additional 122 shares during the period. PDS Planning Inc lifted its holdings in Fortinet by 3.1% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock worth $326,000 after purchasing an additional 123 shares during the period. GW&K Investment Management LLC lifted its holdings in Fortinet by 31.4% in the fourth quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock worth $41,000 after purchasing an additional 123 shares during the period. Delta Investment Management LLC increased 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 period. Finally, Personal CFO Solutions LLC increased its stake in Fortinet by 5.0% during the 1st quarter. Personal CFO Solutions LLC now owns 2,670 shares of the software maker’s stock valued at $218,000 after buying an additional 127 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on FTNT. HSBC lowered shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price target for the company. in a research note on Monday, June 29th. Morgan Stanley restated an “underweight” rating and set a $80.00 price objective on shares of Fortinet in a report on Thursday, May 7th. DZ Bank lowered Fortinet from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a report on Tuesday, May 19th. Arete Research set a $104.00 price target on shares of Fortinet and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, 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, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-three have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $113.97.
Insiders Place Their Bets
In other news, CEO Ken Xie sold 160,632 shares of Fortinet 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 completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. The trade was 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. In the last quarter, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by corporate insiders.
Fortinet Stock Up 0.5%
Shares of FTNT stock opened at $161.61 on Friday. The stock has a fifty day moving average price of $144.30 and a 200 day moving average price of $103.80. The stock has a market cap of $118.40 billion, a P/E ratio of 62.40, a price-to-earnings-growth ratio of 4.37 and a beta of 1.09. Fortinet, Inc. has a one year low of $70.12 and a one year high of $170.35. 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 (NASDAQ:FTNT – Get Free Report) last announced its quarterly 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 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $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 2.8 earnings per share for the current year.
Key Headlines Impacting Fortinet
Here are the key news stories impacting Fortinet this week:
- Positive Sentiment: Fortinet received an upgrade from Zacks Research to strong-buy, reinforcing a more constructive analyst view ahead of earnings. Zacks Research upgrade
- Positive Sentiment: Wall Street Zen upgraded Fortinet (FTNT) to buy, which could support investor confidence. Wall Street Zen upgrade
- Positive Sentiment: Several cybersecurity-focused articles highlighted FTNT as a beneficiary of rising agentic AI adoption, suggesting stronger long-term demand for security products. Agentic AI article
- Neutral Sentiment: Multiple previews ahead of Fortinet’s Q2 2026 earnings say analysts expect double-digit bottom-line growth, but the market is still waiting for the actual report, so this is more of a setup than a catalyst. Q2 2026 earnings preview
- Neutral Sentiment: Fortinet’s consensus broker recommendation remains Hold, indicating analysts are still mixed overall despite the recent upgrades. Consensus hold rating
- Negative Sentiment: One market report said Fortinet underperformed competitors on Thursday, which may have capped upside and suggests some relative weakness in the group. Underperforms competitors
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.
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