Altrafin AG Purchases Shares of 103,115 Fortinet, Inc. $FTNT

Altrafin AG purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 103,115 shares of the software maker's stock, valued at approximately $8,188,000. Fortinet accounts for about 2.6% of Altrafin AG's investment portfolio, making the stock its 16th largest position.

A number of other hedge funds have also recently bought and sold shares of the stock. FORA Capital LLC acquired a new stake in Fortinet during the fourth quarter worth $5,923,000. Marshall Wace LLP boosted its stake in Fortinet by 1,802.9% during the fourth quarter. Marshall Wace LLP now owns 1,006,400 shares of the software maker's stock worth $79,918,000 after buying an additional 1,065,500 shares in the last quarter. Visionary Wealth Advisors boosted its stake in Fortinet by 32.6% during the fourth quarter. Visionary Wealth Advisors now owns 5,307 shares of the software maker's stock worth $421,000 after buying an additional 1,304 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Fortinet by 6.6% during the fourth quarter. Neuberger Berman Group LLC now owns 83,432 shares of the software maker's stock worth $6,625,000 after buying an additional 5,131 shares in the last quarter. Finally, Advyzon Investment Management LLC boosted its stake in Fortinet by 13.7% during the fourth quarter. Advyzon Investment Management LLC now owns 5,741 shares of the software maker's stock worth $456,000 after buying an additional 693 shares in the last quarter. 83.71% of the stock is owned by institutional investors.

Fortinet Stock Up 0.9%

Shares of NASDAQ FTNT opened at $146.30 on Friday. The stock has a market cap of $107.19 billion, a PE ratio of 56.49, a PEG ratio of 4.01 and a beta of 1.11. The business has a fifty day moving average of $109.80 and a two-hundred day moving average of $91.08. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $150.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued 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 company had revenue of $1.85 billion during the quarter, compared to analysts' expectations of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business's revenue was up 20.1% on a year-over-year basis. During the same period last year, the business 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. As a group, equities research analysts expect that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company's stock, valued at $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 completion of the transaction, the vice president directly owned 9,923,610 shares of the company's stock, valued at $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FTNT. Bank of America lifted their price target on shares of Fortinet from $130.00 to $180.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. TD Cowen reiterated a "buy" rating and set a $160.00 price target (up from $125.00) on shares of Fortinet in a research note on Monday, June 8th. Weiss Ratings upgraded shares of Fortinet from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday. Piper Sandler lifted their price target on shares of Fortinet from $90.00 to $110.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Finally, Wells Fargo & Company reiterated an "underweight" rating and set 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, six have given a Buy rating, twenty-four have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $107.77.

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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