Crumly & Associates Inc. trimmed its position in shares of Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 48.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,959 shares of the software maker’s stock after selling 2,819 shares during the period. Crumly & Associates Inc.’s holdings in Fortinet were worth $529,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the business. Transamerica Financial Advisors LLC purchased a new stake in shares of Fortinet in the 2nd quarter worth $492,000. Westerkirk Capital Inc. raised its stake in Fortinet by 41.9% during the 4th quarter. Westerkirk Capital Inc. now owns 52,500 shares of the software maker’s stock worth $4,169,000 after acquiring an additional 15,500 shares during the period. QRG Capital Management Inc. increased its stake in shares of Fortinet by 21.4% in the first quarter. QRG Capital Management Inc. now owns 75,491 shares of the software maker’s stock worth $6,169,000 after purchasing an additional 13,294 shares in the last quarter. Vista Investment Partners LLC lifted its stake in shares of Fortinet by 53.1% during the 2nd quarter. Vista Investment Partners LLC now owns 49,058 shares of the software maker’s stock valued at $7,537,000 after buying an additional 17,018 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. raised its holdings in Fortinet by 2.2% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 340,939 shares of the software maker’s stock valued at $27,074,000 after acquiring an additional 7,385 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.
Insider Buying and Selling at Fortinet
In other news, VP Michael Xie sold 3,121 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.63, for a total value of $507,568.23. Following the sale, the vice president directly owned 9,918,360 shares in the company, valued at approximately $1,613,022,886.80. This trade represents a 0.03% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO John Whittle sold 2,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $168.74, for a total transaction of $478,377.90. Following the completion of the sale, the chief operating officer owned 96,987 shares of the company’s stock, valued at approximately $16,365,586.38. This trade represents a 2.84% 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. Over the last ninety days, insiders sold 221,303 shares of company stock valued at $36,164,034. 17.60% of the stock is currently owned by insiders.
Fortinet Trading Down 0.4%
Fortinet (NASDAQ:FTNT – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.Fortinet’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, equities research analysts predict that Fortinet, Inc. will post 3.1 EPS for the current year.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on FTNT. BMO Capital Markets increased their target price on Fortinet from $170.00 to $185.00 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Bank of America restated a “buy” rating on shares of Fortinet in a research report on Monday, July 27th. Royal Bank Of Canada set a $185.00 target price on Fortinet and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Wells Fargo & Company set a $135.00 price objective on Fortinet and gave the stock an “underweight” rating in a research note on Thursday, July 30th. Finally, Truist Financial set a $183.00 price target on shares of Fortinet and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nineteen have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $152.79.
Read Our Latest Research Report on Fortinet
Fortinet Company Profile
Fortinet, Inc develops and provides cybersecurity products and services for businesses, governments, and service providers. The company’s portfolio is designed to protect networks, endpoints, applications, cloud environments, and operational technology from cyber threats.
Its offerings include FortiGate next-generation firewalls, FortiSwitch secure networking switches, FortiAP wireless access points, FortiClient endpoint security, and FortiSASE secure access service edge solutions. Fortinet also provides centralized management and analytics through products such as FortiManager and FortiAnalyzer, along with security operations, threat intelligence, and other subscription-based services through its FortiGuard portfolio.
Founded in 2000, Fortinet serves customers globally through direct sales, channel partners, and managed security service providers.
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