Eurizon Capital SGR S.p.A. Acquires New Stake in Fortinet, Inc. $FTNT

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in Fortinet during the fourth quarter, buying 184,099 shares valued at about $14.64 million.
• Fortinet reported a strong latest quarter, with EPS of $0.82 beating estimates and revenue of $1.85 billion topping expectations; revenue rose 20.1% year over year.
• Analyst sentiment remains mixed, with Fortinet carrying an overall “Hold” rating and a consensus price target of $102.69, while recent insider selling included COO John Whittle’s large share sale.

Eurizon Capital SGR S.p.A. acquired a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 184,099 shares of the software maker's stock, valued at approximately $14,638,000.

A number of other large investors have also made changes to their positions in the stock. Optimist Retirement Group LLC boosted its stake in shares of Fortinet by 2.5% during the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker's stock valued at $398,000 after acquiring an additional 122 shares during the last quarter. PDS Planning Inc boosted its stake in shares of Fortinet by 3.1% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the software maker's stock valued at $326,000 after acquiring an additional 123 shares during the last quarter. Delta Investment Management LLC boosted its stake in Fortinet by 2.4% in the 4th quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker's stock worth $417,000 after buying an additional 125 shares during the last quarter. Fiduciary Trust Co boosted its stake in Fortinet by 1.2% in the 3rd quarter. Fiduciary Trust Co now owns 10,823 shares of the software maker's stock worth $910,000 after buying an additional 130 shares during the last quarter. Finally, L2 Asset Management LLC boosted its stake in Fortinet by 5.1% in the 3rd quarter. L2 Asset Management LLC now owns 2,992 shares of the software maker's stock worth $252,000 after buying an additional 145 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company's stock.

Fortinet Price Performance

Shares of NASDAQ:FTNT opened at $137.97 on Monday. The firm has a market cap of $101.08 billion, a price-to-earnings ratio of 53.27, a PEG ratio of 3.80 and a beta of 1.11. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $138.11. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The stock's 50-day moving average price is $96.96 and its two-hundred day moving average price is $86.65.

Fortinet (NASDAQ:FTNT - Get Free Report) last released 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 business had revenue of $1.85 billion for 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%.The company's revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company posted $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. On average, research analysts forecast that Fortinet, Inc. will post 2.77 EPS for the current year.

Wall Street Analysts Forecast Growth

FTNT has been the topic of a number of research analyst reports. Mizuho raised their price target on Fortinet from $70.00 to $86.00 and gave the stock an "underperform" rating in a research note on Thursday, May 7th. Robert W. Baird set a $115.00 price target on Fortinet in a research note on Thursday, May 7th. Sanford C. Bernstein reissued a "market perform" rating and issued a $83.00 price target on shares of Fortinet in a research note on Friday, February 6th. Piper Sandler raised their price target on Fortinet from $90.00 to $110.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Finally, DZ Bank lowered Fortinet from a "buy" rating to a "hold" rating and set a $125.00 price target on the stock. in a research note on Tuesday, May 19th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, Fortinet has an average rating of "Hold" and a consensus target price of $102.69.

Insider Activity

In other news, COO John Whittle sold 146,015 shares of the business's stock in a transaction that occurred 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 sale, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, CEO Ken Xie sold 5,355 shares of the business's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.90, for a total value of $476,059.50. Following the completion of the sale, the chief executive officer owned 52,978,004 shares of the company's stock, valued at $4,709,744,555.60. This trade represents a 0.01% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 153,848 shares of company stock worth $19,446,115. 17.60% 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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