United Asset Strategies Inc. Sells 13,323 Shares of Fortinet, Inc. $FTNT

Key Points

• United Asset Strategies Inc. reduced its Fortinet stake by 45.2% in the first quarter, selling 13,323 shares and leaving it with 16,165 shares valued at about $1.32 million.
• Fortinet received mixed analyst action, including a price-target boost from some firms, but the overall consensus remains “Hold” with an average target price of $107.58.
• The company reported strong quarterly results, beating EPS and revenue estimates, while insiders also sold shares recently; Fortinet stock traded down 1.0% to $160.81 in Tuesday trading.

United Asset Strategies Inc. trimmed its position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 45.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,165 shares of the software maker's stock after selling 13,323 shares during the quarter. United Asset Strategies Inc.'s holdings in Fortinet were worth $1,321,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in FTNT. Ameriflex Group Inc. bought a new position in Fortinet in the 3rd quarter valued at approximately $25,000. Physician Wealth Advisors Inc. boosted its position in Fortinet by 408.3% during the 1st 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 worth approximately $25,000. Elyxium Wealth LLC acquired a new position in Fortinet in the 4th quarter valued at approximately $27,000. Finally, Palisade Asset Management LLC acquired a new position in Fortinet in the 3rd quarter valued at approximately $28,000. 83.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on FTNT shares. Royal Bank Of Canada reiterated a "sector perform" rating and set a $107.00 price target (up from $90.00) on shares of Fortinet in a report on Thursday, May 7th. HSBC downgraded Fortinet from a "hold" rating to a "reduce" rating and set a $102.00 price objective for the company. in a report on Monday, June 29th. Susquehanna lifted their target price on Fortinet from $90.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. Stifel Nicolaus set a $85.00 price target on Fortinet in a research report on Wednesday, March 11th. Finally, Weiss Ratings raised Fortinet from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have given a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $107.58.

Fortinet Stock Down 1.0%

Shares of FTNT traded down $1.54 during trading hours on Tuesday, reaching $160.81. The stock had a trading volume of 2,008,988 shares, compared to its average volume of 6,554,908. The firm has a 50-day simple moving average of $131.84 and a 200 day simple moving average of $98.86. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $163.57. 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 $117.81 billion, a price-to-earnings ratio of 62.15, a P/E/G ratio of 4.28 and a beta of 1.09.

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

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total value of $23,384,806.56. Following the sale, the chief executive officer owned 52,972,372 shares in the company, valued at $7,711,717,915.76. This represents a 0.30% decrease in their position. The transaction was disclosed in a legal 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 transaction of $18,749,786.15. Following the completion of the transaction, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 318,387 shares of company stock valued at $43,403,063 over the last three months. Corporate insiders own 17.60% of the company's stock.

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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