Callan Family Office LLC Buys New Shares in Fortinet, Inc. $FTNT

Callan Family Office LLC bought a new position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 32,124 shares of the software maker's stock, valued at approximately $4,935,000.

Several other large investors also recently bought and sold shares of the stock. Expressive Wealth LLC purchased a new stake in shares of Fortinet during the fourth quarter worth approximately $646,000. Leonteq Securities AG acquired a new stake in Fortinet in the fourth quarter valued at approximately $10,422,000. Eurizon Capital SGR S.p.A. purchased a new position in Fortinet in the fourth quarter worth approximately $14,638,000. Thrivent Financial for Lutherans lifted its stake in Fortinet by 156.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker's stock worth $31,009,000 after acquiring an additional 238,299 shares during the last quarter. Finally, Westerkirk Capital Inc. grew its holdings in Fortinet by 41.9% during the 4th quarter. Westerkirk Capital Inc. now owns 52,500 shares of the software maker's stock worth $4,169,000 after acquiring an additional 15,500 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company's stock.

Fortinet Trading Up 1.8%

Shares of Fortinet stock opened at $153.51 on Friday. The company has a fifty day simple moving average of $156.24 and a 200-day simple moving average of $117.61. Fortinet, Inc. has a 12-month low of $73.55 and a 12-month high of $172.09. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The stock has a market cap of $112.63 billion, a price-to-earnings ratio of 54.05, a PEG ratio of 2.86 and a beta of 1.07.

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

Insider Activity

In other news, VP Michael Xie sold 3,907 shares of the business's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the sale, the vice president directly owned 9,923,610 shares of the company's stock, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their position. The transaction 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. Also, CEO Ken Xie sold 161,482 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of 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 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 329,142 shares of company stock worth $50,731,178. Corporate insiders own 17.60% of the company's stock.

Wall Street Analyst Weigh In

FTNT has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $185.00 price objective (up from $165.00) on shares of Fortinet in a research report on Thursday, July 30th. DZ Bank cut shares of Fortinet from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 30th. Bank of America reiterated a "buy" rating on shares of Fortinet in a research note on Monday, July 27th. Morgan Stanley reissued a "positive" rating and issued a $136.00 target price (up from $133.00) on shares of Fortinet in a report on Thursday, July 30th. Finally, Citigroup raised their price target on Fortinet from $165.00 to $185.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $150.91.

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.

Want to see what other hedge funds are holding FTNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortinet, Inc. (NASDAQ:FTNT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source