Cetera Investment Advisers Grows Holdings in Fortinet, Inc. $FTNT

Cetera Investment Advisers boosted its position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 22.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 224,350 shares of the software maker's stock after acquiring an additional 41,233 shares during the period. Cetera Investment Advisers' holdings in Fortinet were worth $18,334,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FTNT. Norges Bank bought a new position in Fortinet in the 4th quarter worth approximately $1,152,917,000. First Trust Advisors LP boosted its position in shares of Fortinet by 45.5% during the first quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker's stock worth $940,284,000 after acquiring an additional 3,598,487 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Fortinet by 38.9% during the fourth quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker's stock worth $613,915,000 after acquiring an additional 2,166,396 shares during the last quarter. AQR Capital Management LLC grew its stake in Fortinet by 76.2% during the fourth quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker's stock valued at $326,297,000 after acquiring an additional 1,777,115 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Fortinet by 17.0% during 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. Hedge funds and other institutional investors own 83.71% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on FTNT. JPMorgan Chase & Co. boosted their price target on shares of Fortinet from $73.00 to $75.00 and gave the stock an "underweight" rating in a research note on Thursday, May 7th. DZ Bank lowered Fortinet from a "buy" rating to a "hold" rating and set a $125.00 price objective for the company. in a research report on Tuesday, May 19th. TD Cowen reiterated a "buy" rating and issued a $215.00 target price (up from $160.00) on shares of Fortinet in a research report on Monday, July 13th. Weiss Ratings upgraded Fortinet from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, June 11th. Finally, BTIG Research raised their target price on shares of Fortinet from $150.00 to $186.00 and gave the company a "buy" rating in a report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-four have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Fortinet has an average rating of "Hold" and an average target price of $123.61.

Fortinet Stock Up 0.0%

Shares of FTNT opened at $152.38 on Tuesday. The company has a market cap of $111.64 billion, a PE ratio of 58.83, a P/E/G ratio of 4.14 and a beta of 1.09. The business has a fifty day moving average of $148.53 and a 200 day moving average of $107.17. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $170.35. 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 posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same quarter in the previous year, the business posted $0.58 earnings per share. The business's revenue was up 20.1% compared to the same quarter last year. 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, sell-side analysts expect that Fortinet, Inc. will post 2.8 EPS for the current year.

Insiders Place Their Bets

In other news, VP Michael Xie sold 3,907 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the transaction, the vice president owned 9,923,610 shares of the company's stock, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 318,387 shares of company stock valued at $43,403,063 over the last 90 days. Insiders own 17.60% of the company's stock.

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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