Fairtree Asset Management Pty Ltd Purchases New Stake in Fortinet, Inc. $FTNT

Key Points

• Fairtree Asset Management purchased 28,895 Fortinet shares valued at approximately $4.44 million, making the cybersecurity company 1.7% of its portfolio. Institutional investors collectively own 83.71% of Fortinet.
• Fortinet reported quarterly earnings of $0.90 per share and revenue of $2.05 billion, surpassing analyst estimates, while revenue increased 25.6% year over year.
• Analyst sentiment remains mixed: Fortinet has an average “Hold” rating and a consensus price target of $150.91, despite several firms maintaining Buy or Positive ratings.

Fairtree Asset Management Pty Ltd purchased a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 28,895 shares of the software maker's stock, valued at approximately $4,439,000. Fortinet makes up approximately 1.7% of Fairtree Asset Management Pty Ltd's holdings, making the stock its 16th largest holding.

Several other institutional investors also recently bought and sold shares of FTNT. Kilter Group LLC acquired a new position in shares of Fortinet during the 2nd quarter valued at $41,000. Portfolio Design Labs LLC purchased a new position in Fortinet in the second quarter valued at about $365,000. Reliant Investment Partners LLC acquired a new position in shares of Fortinet during the second quarter worth about $234,000. SGL Investment Advisors Inc. purchased a new stake in shares of Fortinet in the second quarter worth about $353,000. Finally, Advisors Capital Management LLC purchased a new stake in shares of Fortinet in the second quarter worth about $625,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the firm's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company's stock, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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. Also, 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 transaction 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 $1,453,213,448.40. The trade was a 0.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 329,142 shares of company stock worth $50,731,178 over the last quarter. 17.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Truist Financial set a $183.00 price target on Fortinet and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Scotiabank reissued a "sector perform" rating and set a $163.00 target price on shares of Fortinet in a research report on Thursday, July 30th. Wall Street Zen raised shares of Fortinet from a "hold" rating to a "buy" rating in a research report on Monday, August 3rd. Royal Bank Of Canada set a $185.00 target price on shares of Fortinet and gave the company a "sector perform" rating in a research note on Thursday, July 30th. Finally, Morgan Stanley reaffirmed a "positive" rating and set a $136.00 price target (up from $133.00) on shares of Fortinet in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $150.91.

Fortinet Stock Performance

Shares of FTNT opened at $150.79 on Friday. The firm has a market cap of $110.64 billion, a price-to-earnings ratio of 53.10, a PEG ratio of 2.90 and a beta of 1.07. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The business's 50 day moving average is $156.10 and its two-hundred day moving average is $117.36. Fortinet, Inc. has a 52-week low of $73.55 and a 52-week high of $172.09.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.15. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business's quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

Fortinet 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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