Fortinet, Inc. $FTNT Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. raised its position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 31.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 339,482 shares of the software maker's stock after buying an additional 81,025 shares during the period. Pacer Advisors Inc.'s holdings in Fortinet were worth $26,958,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Optimist Retirement Group LLC lifted its stake in Fortinet by 2.5% during the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker's stock worth $398,000 after acquiring an additional 122 shares in the last quarter. PDS Planning Inc grew its position in Fortinet by 3.1% in the 4th 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 in the last quarter. GW&K Investment Management LLC grew its position in Fortinet by 31.4% in the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker's stock valued at $41,000 after acquiring an additional 123 shares in the last quarter. Delta Investment Management LLC increased its stake in Fortinet by 2.4% during the fourth quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker's stock worth $417,000 after purchasing an additional 125 shares during the period. Finally, Catalyst Capital Advisors LLC increased its stake in Fortinet by 2.0% during the fourth quarter. Catalyst Capital Advisors LLC now owns 6,459 shares of the software maker's stock worth $513,000 after purchasing an additional 128 shares during the period. Hedge funds and other institutional investors own 83.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Weiss Ratings raised shares of Fortinet from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $100.00 target price on shares of Fortinet in a research note on Thursday, May 7th. Stephens set a $115.00 target price on shares of Fortinet and gave the stock an "equal weight" rating in a report on Thursday, May 7th. Piper Sandler raised their price target on shares of Fortinet from $90.00 to $110.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Finally, TD Cowen restated a "buy" rating and issued a $160.00 price target (up from $125.00) on shares of Fortinet in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-five have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $107.77.

Insider Buying and Selling at Fortinet

In other Fortinet news, VP Michael Xie sold 3,907 shares of the 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 sale, the vice president directly 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 position. The sale was disclosed in a document filed 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 Fortinet stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 318,387 shares of company stock valued at $43,403,063. Insiders own 17.60% of the company's stock.

Fortinet Stock Performance

Shares of Fortinet stock opened at $144.73 on Friday. Fortinet, Inc. has a one year low of $70.12 and a one year high of $150.07. The company has a market cap of $106.04 billion, a PE ratio of 55.88, a P/E/G ratio of 3.96 and a beta of 1.11. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The business has a 50-day simple moving average of $116.11 and a 200-day simple moving average of $93.37.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its 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 analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business's quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 earnings per share. 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, equities research analysts forecast that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

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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