Knuff & Co LLC Invests $16.22 Million in Fortinet, Inc. $FTNT

Key Points

• Knuff & Co LLC invested approximately $16.22 million in Fortinet during the second quarter, purchasing 105,607 shares. Fortinet now represents 4.1% of the firm’s portfolio, while institutional investors collectively own 83.71% of the stock.
• Fortinet reported stronger-than-expected quarterly results, with earnings of $0.90 per share versus the $0.75 consensus estimate and revenue of $2.05 billion, up 25.6% year over year.
• Analyst sentiment is mixed: Fortinet has an average rating of “Hold” and a consensus price target of $150.91, below its reported opening price of $152.85. Insiders have sold 329,142 shares worth roughly $50.7 million over the past 90 days.

Knuff & Co LLC bought a new stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 105,607 shares of the software maker's stock, valued at approximately $16,223,000. Fortinet comprises 4.1% of Knuff & Co LLC's holdings, making the stock its 7th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. NewEdge Wealth LLC purchased a new position in shares of Fortinet in the second quarter worth about $64,821,000. Flossbach Von Storch SE acquired a new stake in Fortinet in the 2nd quarter valued at about $2,149,000. Empirical Asset Management LLC acquired a new stake in Fortinet in the 2nd quarter valued at about $296,000. Palmer Knight Co purchased a new position in Fortinet in the 2nd quarter worth approximately $12,391,000. Finally, Great Lakes Advisors LLC purchased a new position in Fortinet in the 2nd quarter worth approximately $3,610,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Stock Down 3.3%

FTNT stock opened at $152.85 on Thursday. The firm has a market cap of $112.15 billion, a PE ratio of 53.82, a PEG ratio of 3.00 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. The firm's 50 day moving average price is $155.98 and its 200-day moving average price is $116.87. 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 released its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.15. The firm had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The firm's quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, equities research analysts anticipate that Fortinet, Inc. will post 3.05 EPS for the current year.

Wall Street Analysts Forecast Growth

FTNT has been the subject of a number of analyst reports. Barclays set a $190.00 price target on Fortinet and gave the company an "equal weight" rating in a research report on Thursday, July 30th. Evercore set a $165.00 price objective on Fortinet in a research note on Thursday, July 30th. Bank of America restated a "buy" rating on shares of Fortinet in a report on Monday, July 27th. Zacks Research raised Fortinet from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Finally, Truist Financial set a $183.00 price target on Fortinet and gave the stock a "buy" rating in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, Fortinet has an average rating of "Hold" and a consensus price target of $150.91.

Insider Buying and Selling at Fortinet

In other news, CEO Ken Xie sold 161,482 shares of the stock in a transaction on Monday, August 3rd. The stock was 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 directly owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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. 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 sale, the vice president directly owned 9,923,610 shares of the company's stock, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 329,142 shares of company stock worth $50,731,178. Corporate insiders own 17.60% of the company's stock.

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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