Y.D. More Investments Ltd decreased its stake in Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 50.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 29,203 shares of the software maker’s stock after selling 29,432 shares during the quarter. Y.D. More Investments Ltd’s holdings in Fortinet were worth $2,386,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in FTNT. Brighton Jones LLC lifted its stake in Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after purchasing an additional 221 shares during the last quarter. Bison Wealth LLC purchased a new position in shares of Fortinet in the 4th quarter worth about $585,000. HUB Investment Partners LLC increased its position in shares of Fortinet by 29.1% during the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after purchasing an additional 1,193 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in shares of Fortinet during the 2nd quarter valued at about $1,136,000. Finally, Quantinno Capital Management LP lifted its position in Fortinet by 27.4% in the 2nd quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock worth $15,328,000 after buying an additional 31,202 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.
Insider Activity at Fortinet
In related news, COO John Whittle sold 146,015 shares of the firm’s 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. This trade represents a 60.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the sale, the chief executive officer owned 52,972,372 shares in the company, 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. Insiders have sold a total of 318,387 shares of company stock worth $43,403,063 in the last 90 days. Company insiders own 17.60% of the company’s stock.
Fortinet Stock Performance
Fortinet (NASDAQ:FTNT – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.58 earnings per share. 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, research analysts anticipate that Fortinet, Inc. will post 2.8 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have commented on FTNT. Susquehanna increased their price target on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Barclays set a $155.00 price objective on shares of Fortinet and gave the company an “equal weight” rating in a research note on Friday, June 12th. Robert W. Baird set a $115.00 target price on shares of Fortinet in a report on Thursday, May 7th. BTIG Research lifted their target price on shares of Fortinet from $150.00 to $186.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Weiss Ratings raised shares of Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $108.74.
View Our Latest Stock Report on Fortinet
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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