Global Retirement Partners LLC Makes New Investment in Fortinet, Inc. $FTNT

Key Points

• Global Retirement Partners acquired 13,784 Fortinet shares worth approximately $2.1 million in the second quarter, while institutional investors collectively own 83.71% of the company.
• Fortinet reported quarterly earnings of $0.90 per share and revenue of $2.05 billion, surpassing estimates and representing 25.6% year-over-year revenue growth.
• Analyst sentiment remains mixed, with the stock carrying an average “Hold” rating and a $150.91 price target; company insiders have sold roughly $69.5 million of shares over the past 90 days.

Global Retirement Partners LLC bought a new position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,784 shares of the software maker's stock, valued at approximately $2,117,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FTNT. Physician Wealth Advisors Inc. raised its holdings in shares of Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker's stock valued at $25,000 after buying an additional 245 shares during the period. Wexford Capital LP acquired a new position in Fortinet during the 3rd quarter worth approximately $25,000. Elyxium Wealth LLC purchased a new position in Fortinet in the fourth quarter valued at $27,000. Palisade Asset Management LLC purchased a new stake in Fortinet during the third quarter worth approximately $28,000. Finally, Ares Financial Consulting LLC acquired a new position in shares of Fortinet in the 4th quarter valued at $29,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $160.01 on Monday. The firm has a market capitalization of $117.40 billion, a PE ratio of 56.34, a PEG ratio of 3.03 and a beta of 1.07. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $155.05 and a two-hundred day moving average price of $115.31. Fortinet, Inc. has a one year low of $73.55 and a one year high of $172.09.

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

Insider Activity

In other news, COO John Whittle sold 146,015 shares of the business's 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 completion of the sale, the chief operating officer owned 94,724 shares in the company, valued at $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ken Xie sold 161,482 shares of the stock in a transaction that occurred 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 owned 52,972,372 shares in the company, valued at $8,616,486,029.52. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders have sold 475,157 shares of company stock worth $69,480,964. Company insiders own 17.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Piper Sandler restated a "neutral" rating and set a $175.00 price target (up from $110.00) on shares of Fortinet in a research note on Thursday, July 30th. Evercore set a $165.00 target price on shares of Fortinet in a research note on Thursday, July 30th. HSBC cut Fortinet from a "hold" rating to a "reduce" rating and set a $102.00 target price for the company. in a report on Monday, June 29th. JPMorgan Chase & Co. boosted their target price on shares of Fortinet from $73.00 to $75.00 and gave the stock an "underweight" rating in a research report on Thursday, May 7th. Finally, TD Cowen reaffirmed a "buy" rating and issued a $215.00 target price (up from $160.00) on shares of Fortinet in a research report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eighteen have issued a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $150.91.

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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