8,131 Shares in Fortinet, Inc. $FTNT Purchased by Expressive Wealth LLC

Key Points

• Expressive Wealth LLC initiated a new position in Fortinet, buying 8,131 shares in the fourth quarter worth about $646,000.
• Fortinet reported strong quarterly results, with EPS of $0.82 beating estimates and revenue of $1.85 billion topping expectations, while revenue rose 20.1% year over year.
• Despite the solid earnings, analyst sentiment remains cautious: the stock’s consensus rating is still Hold, even though the average price target stands at $102.69.

Expressive Wealth LLC acquired a new position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 8,131 shares of the software maker's stock, valued at approximately $646,000.

A number of other hedge funds have also modified their holdings of FTNT. Brighton Jones LLC grew its holdings in shares of 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 buying an additional 221 shares in the last quarter. Bison Wealth LLC bought a new position in shares of Fortinet during the fourth quarter worth about $585,000. HUB Investment Partners LLC grew its holdings in shares of Fortinet by 29.1% during the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker's stock worth $560,000 after buying an additional 1,193 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of Fortinet during the second quarter worth about $1,136,000. Finally, Quantinno Capital Management LP grew its stake in Fortinet by 27.4% in the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker's stock valued at $15,328,000 after purchasing an additional 31,202 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on FTNT. Freedom Capital downgraded Fortinet from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 17th. Mizuho raised their price target on Fortinet from $70.00 to $86.00 and gave the company an "underperform" rating in a research note on Thursday, May 7th. Wedbush restated an "outperform" rating and issued a $90.00 price target on shares of Fortinet in a research note on Friday, February 6th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $100.00 price target on shares of Fortinet in a research note on Thursday, May 7th. Finally, Zacks Research upgraded Fortinet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $102.69.

Fortinet Stock Performance

FTNT opened at $133.96 on Wednesday. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $134.91. The stock has a market cap of $98.15 billion, a price-to-earnings ratio of 51.72, a PEG ratio of 3.68 and a beta of 0.92. The business has a 50 day moving average of $94.07 and a 200-day moving average of $85.58. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.

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. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company 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 earnings per share. The business's revenue was up 20.1% on a year-over-year basis. 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, equities research analysts expect that Fortinet, Inc. will post 2.77 earnings per share for the current year.

Insider Activity

In other news, COO John Whittle sold 146,015 shares of the firm's stock in a transaction that occurred 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 directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Michael Xie sold 2,478 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.89, for a total value of $220,269.42. Following the completion of the sale, the vice president directly owned 9,927,517 shares of the company's stock, valued at approximately $882,456,986.13. The trade was a 0.02% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 153,848 shares of company stock valued at $19,446,115 over the last three months. Insiders own 17.60% of the company's stock.

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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