65,538 Shares in Fortinet, Inc. $FTNT Acquired by Algert Global LLC

Algert Global LLC bought a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 65,538 shares of the software maker's stock, valued at approximately $10,068,000.

Other institutional investors also recently bought and sold shares of the company. Physician Wealth Advisors Inc. increased its position in Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker's stock valued at $25,000 after buying an additional 245 shares in the last quarter. Dunhill Financial LLC acquired a new stake in Fortinet in the second quarter worth about $25,000. Burk Holdings LLC purchased a new stake in shares of Fortinet during the second quarter worth about $25,000. Wexford Capital LP purchased a new stake in shares of Fortinet during the third quarter worth about $25,000. Finally, Elyxium Wealth LLC acquired a new position in shares of Fortinet during the fourth quarter valued at about $27,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on FTNT shares. Barclays set a $190.00 price objective on shares of Fortinet and gave the company an "equal weight" rating in a research report on Thursday, July 30th. Truist Financial set a $183.00 price target on shares of Fortinet and gave the company a "buy" rating in a research note on Tuesday, July 21st. Mizuho set a $125.00 price target on shares of Fortinet and gave the stock an "underperform" rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. lifted their price objective on shares of Fortinet from $73.00 to $75.00 and gave the stock an "underweight" rating in a research note on Thursday, May 7th. Finally, BMO Capital Markets boosted their price objective on shares of Fortinet from $170.00 to $185.00 and gave the company a "market perform" rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $150.91.

Insider Buying and Selling at Fortinet

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the sale, the chief executive officer directly owned 52,972,372 shares of the company's stock, valued at approximately $8,616,486,029.52. This trade represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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, VP Michael Xie sold 3,907 shares of Fortinet 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 transaction, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 329,142 shares of company stock valued at $50,731,178. 17.60% of the stock is currently owned by corporate insiders.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $153.66 on Wednesday. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $172.09. The business's 50 day moving average price is $156.42 and its 200 day moving average price is $118.89. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The firm has a market cap of $112.74 billion, a P/E ratio of 54.11, a P/E/G ratio of 2.88 and a beta of 1.07.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.15. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. Fortinet's revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period last year, the firm posted $0.64 EPS. 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, sell-side analysts expect that Fortinet, Inc. will post 3.05 earnings per share 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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