Maridea Wealth Management LLC Makes New $1.67 Million Investment in Fortinet, Inc. $FTNT

Key Points

• Maridea Wealth Management purchased 10,850 Fortinet shares worth approximately $1.67 million during the second quarter. Institutional investors and hedge funds collectively own 83.71% of Fortinet.
• Analysts remain mixed, with Fortinet carrying a consensus “Hold” rating and an average price target of $150.91, despite several recent target increases to $180–$185.
• Fortinet reported stronger-than-expected quarterly results, with EPS of $0.90 versus the $0.75 estimate and revenue of $2.05 billion, up 25.6% year over year. The stock opened at $160.01, down 3.3%, while insiders have sold roughly $69.5 million of shares over the past 90 days.

Maridea Wealth Management LLC purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,850 shares of the software maker's stock, valued at approximately $1,667,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elevation Wealth Partners LLC lifted its stake in shares of Fortinet by 53.6% in the second quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker's stock worth $33,000 after acquiring an additional 75 shares during the period. Florida Financial Advisors LLC increased its position in Fortinet by 3.0% during the 1st quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker's stock valued at $309,000 after purchasing an additional 109 shares during the period. Optimist Retirement Group LLC increased its position in Fortinet by 2.5% during the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker's stock valued at $398,000 after purchasing an additional 122 shares during the period. PDS Planning Inc raised its holdings in Fortinet by 3.1% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the software maker's stock worth $326,000 after purchasing an additional 123 shares during the last quarter. Finally, GW&K Investment Management LLC raised its holdings in Fortinet by 31.4% during the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker's stock worth $41,000 after purchasing an additional 123 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $185.00 price objective (up from $165.00) on shares of Fortinet in a research report on Thursday, July 30th. Citigroup boosted their target price on shares of Fortinet from $165.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. Zacks Research raised shares of Fortinet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. UBS Group reiterated a "neutral" rating and set a $180.00 price target on shares of Fortinet in a report on Thursday, July 30th. Finally, Royal Bank Of Canada set a $185.00 price objective on Fortinet and gave the stock a "sector perform" rating in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Fortinet has a consensus rating of "Hold" and an average target price of $150.91.

Insider Transactions at Fortinet

In other news, 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 completion of the sale, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The sale was disclosed in a filing 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 the firm's stock in a transaction dated 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 completion of the sale, the chief operating officer owned 94,724 shares of the company's stock, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 475,157 shares of company stock valued at $69,480,964 in the last 90 days. 17.60% of the stock is currently owned by corporate insiders.

Fortinet Stock Down 3.3%

Fortinet stock opened at $160.01 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. Fortinet, Inc. has a 12-month low of $73.55 and a 12-month high of $172.09. The firm's fifty day moving average is $155.05 and its 200 day moving average is $115.09. The company 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.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.15. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. Fortinet's revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm earned $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. As a group, sell-side analysts predict that Fortinet, Inc. will post 3.05 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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