Moran Wealth Management LLC Boosts Stock Holdings in Fortinet, Inc. $FTNT

Key Points

• Moran Wealth Management LLC increased its Fortinet stake by 16.4% in Q1, buying 18,447 additional shares and bringing its total to 130,886 shares worth about $10.7 million.
• Fortinet reported strong quarterly results, with EPS of $0.82 and revenue of $1.85 billion, both topping estimates; revenue also rose 20.1% year over year. The company also guided Q2 2026 EPS to $0.72-$0.76 and FY 2026 EPS to $3.10-$3.16.
• Analyst sentiment remains cautious overall: despite several positive price targets, the stock currently carries a consensus rating of “Hold” and an average price target of $107.58. Meanwhile, insiders have sold shares recently, including CEO Ken Xie and COO John Whittle.

Moran Wealth Management LLC grew its holdings in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 16.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 130,886 shares of the software maker's stock after purchasing an additional 18,447 shares during the quarter. Moran Wealth Management LLC's holdings in Fortinet were worth $10,696,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Ameriflex Group Inc. purchased a new position in Fortinet during the third quarter valued at approximately $25,000. Physician Wealth Advisors Inc. lifted its holdings in Fortinet by 408.3% during the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker's stock worth $25,000 after buying an additional 245 shares during the period. Wexford Capital LP bought a new stake in Fortinet during the 3rd quarter valued at $25,000. Elyxium Wealth LLC bought a new stake in Fortinet during the 4th quarter valued at $27,000. Finally, Palisade Asset Management LLC purchased a new position in shares of Fortinet in the 3rd quarter valued at $28,000. Hedge funds and other institutional investors own 83.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on FTNT shares. Barclays set a $155.00 price target on Fortinet and gave the stock an "equal weight" rating in a research report on Friday, June 12th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $100.00 price target on shares of Fortinet in a report on Thursday, May 7th. Zacks Research lowered Fortinet from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 12th. Morgan Stanley reiterated an "underweight" rating and issued a $80.00 price target on shares of Fortinet in a research note on Thursday, May 7th. Finally, TD Cowen restated a "buy" rating and set a $160.00 price target (up from $125.00) on shares of Fortinet in a research note 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 assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Fortinet presently has an average rating of "Hold" and a consensus price target of $107.58.

Fortinet Stock Performance

NASDAQ:FTNT opened at $156.25 on Friday. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $159.80. The firm has a fifty day simple moving average of $130.25 and a 200-day simple moving average of $98.18. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $114.48 billion, a P/E ratio of 60.33, a PEG ratio of 4.28 and a beta of 1.09.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.20. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm's revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. On average, equities research analysts anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Insider Buying and Selling at Fortinet

In other Fortinet news, CEO Ken Xie sold 160,632 shares of the business's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the transaction, the chief operating officer owned 94,724 shares of the company's stock, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is currently owned by insiders.

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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