Public Employees Retirement System of Ohio decreased its stake in shares of Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 2.9% during the 1st quarter, Holdings Channel reports. The firm owned 258,783 shares of the software maker’s stock after selling 7,830 shares during the period. Public Employees Retirement System of Ohio’s holdings in Fortinet were worth $21,148,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Compound Planning Inc. lifted its stake in Fortinet by 76.7% in the first quarter. Compound Planning Inc. now owns 28,492 shares of the software maker’s stock valued at $2,328,000 after acquiring an additional 12,364 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Fortinet by 87.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock worth $788,682,000 after purchasing an additional 4,500,194 shares during the last quarter. Mizuho Markets Americas LLC bought a new stake in shares of Fortinet in the 1st quarter valued at about $381,000. Sei Investments Co. lifted its stake in Fortinet by 61.2% in the 1st quarter. Sei Investments Co. now owns 433,321 shares of the software maker’s stock valued at $35,412,000 after purchasing an additional 164,517 shares during the last quarter. Finally, Alamar Capital Management LLC acquired a new position in Fortinet during the first quarter worth approximately $2,346,000. Institutional investors own 83.71% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. Wall Street Zen cut Fortinet from a “buy” rating to a “hold” rating in a research report on Sunday. Truist Financial set a $183.00 target price on Fortinet and gave the stock a “buy” rating in a report on Tuesday. TD Cowen restated a “buy” rating and issued a $215.00 price target (up from $160.00) on shares of Fortinet in a research note on Monday, July 13th. Susquehanna raised their price target on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $160.00 price objective on shares of Fortinet in a research report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-four have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortinet has an average rating of “Hold” and an average target price of $123.61.
Insider Activity at Fortinet
In other Fortinet news, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the sale, the vice president owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the transaction, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 318,387 shares of company stock worth $43,403,063. Corporate insiders own 17.60% of the company’s stock.
Fortinet Price Performance
Fortinet stock opened at $152.37 on Friday. The company has a market capitalization of $111.63 billion, a price-to-earnings ratio of 58.83, a PEG ratio of 4.14 and a beta of 1.09. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $170.35. The stock’s 50 day moving average is $148.02 and its 200-day moving average is $106.45.
Fortinet (NASDAQ:FTNT – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the firm posted $0.58 EPS. The firm’s revenue for the quarter 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. Equities research analysts expect that Fortinet, Inc. will post 2.8 EPS for the current year.
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.
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