Azzad Asset Management Inc. ADV Buys 16,230 Shares of Fortinet, Inc. $FTNT

Key Points

• Azzad Asset Management Inc. ADV increased its Fortinet stake by 418.7%, purchasing 16,230 shares to hold 20,106 shares valued at about $1.597 million at quarter-end.
• Fortinet beat expectations for the quarter with $0.81 EPS vs. $0.74 consensus and $1.91B in revenue (up 14.8% YoY), and issued Q1 2026 guidance of $0.590–0.630 EPS and FY2026 guidance of $2.940–3.000 EPS.
• Significant insider selling occurred—Michael Xie sold 343,106 shares and CEO Ken Xie sold 175,737 shares at roughly $81.42—while institutions own 83.71% of the stock and analysts hold a consensus Hold rating with a $87.84 target.

Azzad Asset Management Inc. ADV lifted its position in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 418.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,106 shares of the software maker's stock after purchasing an additional 16,230 shares during the period. Azzad Asset Management Inc. ADV's holdings in Fortinet were worth $1,597,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Fortinet by 4.0% in the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker's stock valued at $6,354,874,000 after acquiring an additional 2,894,355 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Fortinet by 62.1% in the third quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker's stock valued at $467,868,000 after acquiring an additional 2,132,109 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Fortinet by 30.9% in the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker's stock valued at $636,962,000 after acquiring an additional 1,790,033 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Fortinet by 17.0% in the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker's stock valued at $909,453,000 after acquiring an additional 1,568,337 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Fortinet by 23.1% in the third quarter. Ameriprise Financial Inc. now owns 5,160,348 shares of the software maker's stock valued at $430,082,000 after acquiring an additional 969,899 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company's stock.

Fortinet Stock Performance

Shares of Fortinet stock opened at $83.72 on Wednesday. The company has a market capitalization of $61.95 billion, a PE ratio of 34.45, a P/E/G ratio of 2.85 and a beta of 1.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17. The company has a 50-day simple moving average of $81.85 and a two-hundred day simple moving average of $81.97. Fortinet, Inc. has a one year low of $70.12 and a one year high of $109.33.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.07. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the company earned $0.74 earnings per share. The business's revenue for the quarter was up 14.8% on a year-over-year basis. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Research analysts expect that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on FTNT shares. Piper Sandler reissued a "neutral" rating and set a $90.00 price objective (up from $85.00) on shares of Fortinet in a report on Monday, January 5th. Sanford C. Bernstein restated a "market perform" rating and set a $83.00 target price on shares of Fortinet in a report on Friday, February 6th. Rosenblatt Securities upped their target price on Fortinet from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, February 6th. Wells Fargo & Company began coverage on Fortinet in a report on Tuesday, March 3rd. They set an "underweight" rating and a $64.00 target price for the company. Finally, UBS Group restated a "neutral" rating and set a $90.00 target price on shares of Fortinet in a report on Friday, February 6th. Five research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $87.84.

Insider Buying and Selling at Fortinet

In other Fortinet news, VP Michael Xie sold 343,106 shares of the firm's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $27,935,690.52. Following the completion of the sale, the vice president owned 10,210,282 shares of the company's stock, valued at approximately $831,321,160.44. This trade represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ken Xie sold 175,737 shares of the firm's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $14,308,506.54. Following the completion of the sale, the chief executive officer directly owned 51,396,385 shares of the company's stock, valued at approximately $4,184,693,666.70. This represents a 0.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 17.20% 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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