Fortinet, Inc. $FTNT Shares Purchased by Goodman Advisory Group LLC

Key Points

• Goodman Advisory Group LLC dramatically increased its Fortinet stake by 1,623.1% in the fourth quarter, buying 19,574 additional shares and bringing its total holdings to 20,780 shares worth about $1.65 million.
• Fortinet saw mixed sentiment from Wall Street and insiders: several analysts raised price targets, but the overall consensus remains “Hold” with an average target price of $106.43. Meanwhile, company insiders, including COO John Whittle and VP Michael Xie, sold shares over the past quarter.
• The stock was trading at $138.88, near its 52-week high of $150.07, after Fortinet reported strong quarterly results with EPS of $0.82 and revenue of $1.85 billion, both above estimates, and issued Q2 and FY2026 guidance.

Goodman Advisory Group LLC lifted its holdings in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 1,623.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,780 shares of the software maker's stock after purchasing an additional 19,574 shares during the quarter. Goodman Advisory Group LLC's holdings in Fortinet were worth $1,650,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FTNT. Expressive Wealth LLC purchased a new stake in Fortinet during the 4th quarter worth approximately $646,000. Trilogy Capital Inc. increased its stake in Fortinet by 46.8% during the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker's stock worth $3,506,000 after buying an additional 14,076 shares in the last quarter. Leonteq Securities AG purchased a new stake in Fortinet during the 4th quarter worth approximately $10,422,000. Victory Capital Management Inc. increased its stake in Fortinet by 5.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,651,683 shares of the software maker's stock worth $138,874,000 after buying an additional 90,284 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in Fortinet during the 4th quarter worth approximately $14,638,000. Institutional investors and hedge funds own 83.71% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. BTIG Research boosted their price objective on Fortinet from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. TD Cowen reiterated a "buy" rating and set a $160.00 price objective (up from $125.00) on shares of Fortinet in a research note on Monday. Barclays set a $115.00 price objective on Fortinet and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. DZ Bank lowered Fortinet from a "buy" rating to a "hold" rating and set a $125.00 price objective for the company. in a research note on Tuesday, May 19th. Finally, Stifel Nicolaus set a $85.00 price target on Fortinet in a research report on Wednesday, March 11th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, Fortinet has a consensus rating of "Hold" and an average target price of $106.43.

Insider Activity at Fortinet

In related news, COO John Whittle sold 146,015 shares of the 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 transaction, the chief operating officer owned 94,724 shares of the company's stock, valued at $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Michael Xie sold 3,907 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was 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 in the company, valued at approximately $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 318,387 shares of company stock valued at $43,403,063 over the last quarter. 17.60% of the stock is owned by insiders.

Fortinet Stock Up 0.4%

Fortinet stock opened at $138.88 on Thursday. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $150.07. The stock's fifty day simple moving average is $107.23 and its 200-day simple moving average is $90.23. 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 firm has a market capitalization of $101.75 billion, a P/E ratio of 53.62, a P/E/G ratio of 3.79 and a beta of 1.11.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its quarterly earnings data 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 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% on a year-over-year basis. During the same quarter in the prior year, the company 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. As a group, equities analysts expect that Fortinet, Inc. will post 2.78 earnings per share 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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