Fortinet, Inc. $FTNT Shares Acquired by Lido Advisors LLC

Key Points

• Lido Advisors LLC increased its Fortinet stake by 13.2% in the first quarter, buying 21,528 additional shares and bringing its total holdings to 185,050 shares worth about $15.1 million.
• Fortinet insiders have been selling shares recently, including VP Michael Xie and COO John Whittle, with $43.4 million in insider stock sales over the last 90 days.
• The company posted strong quarterly results, beating expectations on both earnings and revenue, while analysts remain mixed overall with a Hold consensus and an average price target of $123.61.

Lido Advisors LLC increased its holdings in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 13.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,050 shares of the software maker's stock after buying an additional 21,528 shares during the quarter. Lido Advisors LLC's holdings in Fortinet were worth $15,122,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wexford Capital LP bought a new stake in Fortinet during the 3rd quarter valued at $25,000. Physician Wealth Advisors Inc. grew its stake in shares of Fortinet by 408.3% in the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker's stock worth $25,000 after purchasing an additional 245 shares in the last quarter. Palisade Asset Management LLC acquired a new position in shares of Fortinet during the third quarter valued at $28,000. Elyxium Wealth LLC acquired a new position in shares of Fortinet during the fourth quarter valued at $27,000. Finally, Maseco LLP bought a new stake in shares of Fortinet during the first quarter valued at about $29,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Fortinet

In other news, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction that occurred 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 transaction, the vice president directly owned 9,923,610 shares of the company's stock, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the sale, the chief operating officer owned 94,724 shares of the company's stock, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 318,387 shares of company stock valued at $43,403,063 over the last ninety days. Corporate insiders own 17.60% of the company's stock.

Fortinet Stock Down 2.3%

Shares of Fortinet stock opened at $151.54 on Friday. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $170.35. The firm has a market capitalization of $111.03 billion, a PE ratio of 58.51, a price-to-earnings-growth ratio of 4.22 and a beta of 1.09. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The stock's fifty day moving average is $147.43 and its 200-day moving average is $106.13.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.20. The firm had revenue of $1.85 billion for 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%.Fortinet's revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the business 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. Equities analysts anticipate that Fortinet, Inc. will post 2.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FTNT shares. Mizuho set a $125.00 price objective on shares of Fortinet and gave the stock an "underperform" rating in a report on Wednesday, July 15th. Truist Financial set a $183.00 target price on shares of Fortinet and gave the company a "buy" rating in a research note on Tuesday. HSBC downgraded shares of Fortinet from a "hold" rating to a "reduce" rating and set a $102.00 price target on the stock. in a research report on Monday, June 29th. JPMorgan Chase & Co. upped 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. Finally, TD Cowen reiterated a "buy" rating and issued a $215.00 price objective (up from $160.00) on shares of Fortinet in a report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Fortinet has an average rating of "Hold" and a consensus price target of $123.61.

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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