Epoch Investment Partners Inc. Acquires 38,952 Shares of Fortinet, Inc. $FTNT

Key Points

• Epoch Investment Partners increased its Fortinet stake by 16.6% in the fourth quarter, buying 38,952 additional shares and bringing its total to 273,997 shares worth about $21.8 million.
• Fortinet reported better-than-expected quarterly results, with EPS of $0.82 versus $0.62 expected and revenue of $1.85 billion versus $1.73 billion estimated, while revenue rose 20.1% year over year.
• Despite solid earnings, analysts remain cautious overall: Fortinet’s consensus rating is Hold, with a consensus price target of $107.77, even as some firms raised targets and one upgraded the stock to strong-buy.

Epoch Investment Partners Inc. lifted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 16.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 273,997 shares of the software maker's stock after acquiring an additional 38,952 shares during the quarter. Epoch Investment Partners Inc.'s holdings in Fortinet were worth $21,758,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Expressive Wealth LLC bought a new position in shares of Fortinet during the 4th quarter worth approximately $646,000. Trilogy Capital Inc. boosted its stake in Fortinet by 46.8% in the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker's stock valued at $3,506,000 after purchasing an additional 14,076 shares during the period. Leonteq Securities AG bought a new stake in Fortinet in the 4th quarter valued at $10,422,000. Eurizon Capital SGR S.p.A. bought a new stake in Fortinet in the 4th quarter valued at $14,638,000. Finally, North Dakota State Investment Board bought a new stake in Fortinet in the 4th quarter valued at $1,732,000. 83.71% of the stock is currently owned by institutional investors.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $146.30 on Monday. The stock has a market capitalization of $107.19 billion, a PE ratio of 56.49, a P/E/G ratio of 4.01 and a beta of 1.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. The business has a fifty day moving average price of $109.80 and a two-hundred day moving average price of $91.16. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $150.07.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.20. The firm 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 company's quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.58 EPS. 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 analysts predict that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortinet

In other Fortinet news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the transaction, the chief operating officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction on 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 318,387 shares of company stock valued at $43,403,063 in the last three months. Corporate insiders own 17.60% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Royal Bank Of Canada restated a "sector perform" rating and issued a $107.00 price target (up from $90.00) on shares of Fortinet in a research note on Thursday, May 7th. JPMorgan Chase & Co. boosted their price target on Fortinet from $73.00 to $75.00 and gave the company an "underweight" rating in a research note on Thursday, May 7th. Stephens set a $115.00 price target on Fortinet and gave the company an "equal weight" rating in a research note on Thursday, May 7th. Zacks Research upgraded Fortinet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 14th. Finally, Barclays set a $155.00 price target on Fortinet and gave the company an "equal weight" rating in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $107.77.

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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