Meitav Investment House Ltd. Buys Shares of 14,950 Fortinet, Inc. $FTNT

Key Points

• Meitav Investment House opened a new position in Fortinet during the first quarter, buying 14,950 shares worth about $1.22 million.
• Fortinet continues to attract heavy institutional interest, with 83.71% of shares owned by institutions, even as some insiders recently sold stock.
• The company reported strong Q1 2026 results, including EPS of $0.82 on revenue of $1.85 billion, both above estimates, and it raised full-year guidance while analysts kept a consensus Hold rating.

Meitav Investment House Ltd. purchased a new position in Fortinet, Inc. (NASDAQ:FTNT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,950 shares of the software maker's stock, valued at approximately $1,222,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Brighton Jones LLC lifted its position in shares of Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker's stock worth $976,000 after purchasing an additional 221 shares during the last quarter. Bison Wealth LLC bought a new position in shares of Fortinet in the fourth quarter worth about $585,000. HUB Investment Partners LLC grew its holdings in shares of Fortinet by 29.1% in the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker's stock worth $560,000 after purchasing an additional 1,193 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in Fortinet in the 2nd quarter worth about $1,136,000. Finally, Quantinno Capital Management LP increased its stake in Fortinet by 27.4% in the 2nd quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker's stock worth $15,328,000 after buying an additional 31,202 shares during the period. 83.71% of the stock is owned by institutional investors.

Insider Buying and Selling at Fortinet

In other news, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the transaction, the vice president 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 business's stock in a transaction that occurred 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 transaction, the chief operating officer owned 94,724 shares of the company's stock, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by insiders.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet has rallied more than 104% over the past six months, with much of the upside tied to its strong fiscal Q1 2026 results and the market’s growing enthusiasm for the company’s AI/cybersecurity opportunity. Fortinet (FTNT) Gains More Than 104% in 6 Months, Can It Go Higher?
• Positive Sentiment: One article argues Fortinet’s surge was driven by more than headline financials, pointing to a new customer-management trend and an AI-related growth story that may have been underestimated by Wall Street. What Fortinet Stock Was Telling Wall Street About AI Before It Doubled
• Neutral Sentiment: Fortinet also hit a new 1-year high, reinforcing that momentum remains strong even after the recent move lower. Fortinet NASDAQ: FTNT Hits New 1-Year High - Here's What Happened
• Negative Sentiment: In the latest session, Fortinet fell more than the broader market, suggesting some investors may be taking profits after the stock’s strong run. Fortinet (FTNT) Falls More Steeply Than Broader Market: What Investors Need to Know

Fortinet Stock Down 2.3%

Shares of NASDAQ FTNT opened at $158.67 on Wednesday. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $163.57. The stock's fifty day simple moving average is $133.33 and its two-hundred day simple moving average is $99.42. The stock has a market capitalization of $116.25 billion, a PE ratio of 61.26, a price-to-earnings-growth ratio of 4.44 and a beta of 1.09. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50.

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 firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the company posted $0.58 EPS. The business's revenue for the quarter 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. As a group, analysts expect that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank Of Canada restated a "sector perform" rating and issued a $107.00 target price (up from $90.00) on shares of Fortinet in a research note on Thursday, May 7th. Stephens set a $115.00 price target on Fortinet and gave the company an "equal weight" rating in a report on Thursday, May 7th. BMO Capital Markets increased their price objective on Fortinet from $95.00 to $100.00 and gave the stock a "market perform" rating in a research note on Monday, May 4th. Robert W. Baird set a $115.00 price objective on Fortinet in a report on Thursday, May 7th. Finally, TD Cowen reaffirmed a "buy" rating and set a $160.00 target price (up from $125.00) on shares of Fortinet in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have given a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $107.58.

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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