61,444 Shares in Fortinet, Inc. $FTNT Acquired by Fideuram Asset Management Ireland dac

Key Points

• Fideuram Asset Management Ireland dac opened a new position in Fortinet, buying 61,444 shares worth about $4.88 million in the fourth quarter.
• Fortinet’s latest quarter beat expectations, with EPS of $0.82 and revenue of $1.85 billion, both above analyst estimates, while revenue rose 20.1% year over year.
• Insider activity was notable, with CEO Ken Xie and COO John Whittle both selling shares recently; meanwhile, analysts currently rate the stock a consensus Hold with an average target price of $102.69.

Fideuram Asset Management Ireland dac bought a new position in Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 61,444 shares of the software maker's stock, valued at approximately $4,879,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Basepoint Wealth LLC purchased a new stake in Fortinet in the 4th quarter worth approximately $29,000. Rothschild Investment LLC increased its holdings in Fortinet by 88.6% in the 4th quarter. Rothschild Investment LLC now owns 5,559 shares of the software maker's stock worth $441,000 after acquiring an additional 2,612 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Fortinet by 2.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 60,556 shares of the software maker's stock worth $4,809,000 after acquiring an additional 1,342 shares in the last quarter. Foundations Investment Advisors LLC increased its holdings in Fortinet by 18.2% in the 4th quarter. Foundations Investment Advisors LLC now owns 4,647 shares of the software maker's stock worth $369,000 after acquiring an additional 717 shares in the last quarter. Finally, Baker Avenue Asset Management LP purchased a new stake in Fortinet in the 4th quarter worth approximately $330,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Stock Up 1.4%

NASDAQ FTNT opened at $129.70 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The company has a market capitalization of $95.02 billion, a P/E ratio of 50.08, a P/E/G ratio of 3.52 and a beta of 0.92. Fortinet, Inc. has a one year low of $70.12 and a one year high of $134.91. The stock has a 50 day moving average price of $95.87 and a 200-day moving average price of $86.26.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its 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 firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company's quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the company 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. As a group, equities analysts predict that Fortinet, Inc. will post 2.77 EPS for the current fiscal year.

Analyst Ratings Changes

FTNT has been the subject of several analyst reports. Wedbush reissued an "outperform" rating and issued a $90.00 target price on shares of Fortinet in a report on Friday, February 6th. Truist Financial set a $120.00 price target on Fortinet and gave the stock a "buy" rating in a research note on Thursday, May 7th. Mizuho upped their price target on Fortinet from $70.00 to $86.00 and gave the stock an "underperform" rating in a research note on Thursday, May 7th. Weiss Ratings downgraded Fortinet from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, May 19th. Finally, Wells Fargo & Company restated an "underweight" rating and issued a $70.00 price target (up from $64.00) on shares of Fortinet in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-four have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, Fortinet presently has an average rating of "Hold" and an average target price of $102.69.

Insider Activity

In other news, CEO Ken Xie sold 5,355 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $88.90, for a total transaction of $476,059.50. Following the completion of the transaction, the chief executive officer directly owned 52,978,004 shares in the company, valued at approximately $4,709,744,555.60. This represents a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 146,015 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were 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 of the company's stock, valued at $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 153,848 shares of company stock worth $19,446,115. 17.60% of the stock is currently owned by insiders.

Fortinet Company 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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