Arrowstreet Capital Limited Partnership Buys 506,847 Shares of Fortinet, Inc. $FTNT

Key Points

• Arrowstreet Capital increased its Fortinet stake by 10.9% in the fourth quarter, buying 506,847 additional shares and bringing its total holding to 5.15 million shares worth about $409 million.
• Fortinet beat earnings expectations in its latest quarter, reporting EPS of $0.82 on revenue of $1.85 billion, with revenue up 20.1% year over year and management guiding Q2 2026 and FY 2026 results above current estimates.
• Insider selling continued, with CEO Ken Xie and COO John Whittle both selling shares recently; over the last quarter, insiders sold 318,387 shares worth about $43.4 million.

Arrowstreet Capital Limited Partnership boosted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 10.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,150,830 shares of the software maker's stock after acquiring an additional 506,847 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.69% of Fortinet worth $409,027,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in FTNT. Pinnacle Holdings LLC bought a new stake in Fortinet during the third quarter worth approximately $25,000. Ameriflex Group Inc. bought a new stake in Fortinet during the third quarter worth approximately $25,000. Wexford Capital LP bought a new position in shares of Fortinet during the third quarter valued at approximately $25,000. Elyxium Wealth LLC bought a new position in shares of Fortinet during the fourth quarter valued at approximately $27,000. Finally, Palisade Asset Management LLC bought a new position in shares of Fortinet during the third quarter valued at approximately $28,000. 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 company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The firm has a market capitalization of $107.19 billion, a price-to-earnings ratio of 56.49, a PEG ratio of 4.01 and a beta of 1.11. The stock has a 50 day moving average price of $109.80 and a 200 day moving average price of $91.08. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $150.07.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.Fortinet's quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous 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. Sell-side analysts expect that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

FTNT has been the topic of a number of analyst reports. DZ Bank cut Fortinet from a "buy" rating to a "hold" rating and set a $125.00 target price on the stock. in a research note on Tuesday, May 19th. Scotiabank upped their target price on Fortinet from $85.00 to $110.00 and gave the company a "sector perform" rating in a research note on Thursday, May 7th. Arete Research set a $104.00 target price on Fortinet and gave the company a "buy" rating in a research note on Monday, April 27th. Barclays set a $155.00 target price on Fortinet and gave the company an "equal weight" rating in a research note on Friday. Finally, Compass Point set a $100.00 target price on Fortinet in a research note on Monday, May 4th. 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 company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $107.77.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 business's 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 completion of the sale, the chief operating officer owned 94,724 shares of the company's stock, valued at $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 quarter, insiders sold 318,387 shares of company stock worth $43,403,063. Company insiders own 17.60% of the company's stock.

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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