Glen Eagle Advisors LLC Raises Stake in Fortinet, Inc. $FTNT

Glen Eagle Advisors LLC boosted its position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 15,481.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,581 shares of the software maker's stock after acquiring an additional 15,481 shares during the period. Glen Eagle Advisors LLC's holdings in Fortinet were worth $1,273,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FTNT. Norges Bank purchased a new position in Fortinet in the fourth quarter valued at $1,152,917,000. Arrowstreet Capital Limited Partnership raised its stake in Fortinet by 87.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker's stock valued at $788,682,000 after buying an additional 4,500,194 shares in the last quarter. First Trust Advisors LP lifted its holdings in Fortinet by 45.5% during the 1st quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker's stock worth $940,284,000 after buying an additional 3,598,487 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Fortinet by 38.9% during the 4th quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker's stock worth $613,915,000 after buying an additional 2,166,396 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Fortinet by 76.2% during the 4th quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker's stock worth $326,297,000 after acquiring an additional 1,777,115 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Stock Up 0.0%

Shares of NASDAQ FTNT opened at $152.38 on Tuesday. The stock has a market cap of $111.64 billion, a PE ratio of 58.83, a price-to-earnings-growth ratio of 4.14 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. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $170.35. The business has a 50-day moving average price of $148.53 and a 200 day moving average price of $107.17.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. The firm's revenue was up 20.1% compared to the same quarter last year. 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 research analysts forecast that Fortinet, Inc. will post 2.8 earnings per share for the current year.

Insider Transactions at Fortinet

In other news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following the transaction, the chief operating officer directly owned 94,724 shares of the company's stock, valued at $12,163,508.84. The trade was a 60.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Michael Xie sold 3,907 shares of the company's stock in a transaction on Wednesday, June 3rd. The shares were 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 owned 9,923,610 shares of the company's stock, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their position. 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. Over the last ninety days, insiders have sold 318,387 shares of company stock worth $43,403,063. Insiders own 17.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FTNT. Susquehanna raised their target price on Fortinet from $90.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $165.00 price target (up from $110.00) on shares of Fortinet in a report on Thursday. JPMorgan Chase & Co. increased their price target on shares of Fortinet from $73.00 to $75.00 and gave the company an "underweight" rating in a research note on Thursday, May 7th. Robert W. Baird set a $120.00 price objective on shares of Fortinet in a report on Tuesday, July 21st. Finally, DZ Bank cut shares of Fortinet from a "buy" rating to a "hold" rating and set a $125.00 target price for the company. in a report on Tuesday, May 19th. 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $123.61.

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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