Virtu Financial LLC Makes New $848,000 Investment in Fortinet, Inc. $FTNT

Key Points

• Virtu Financial opened a new position in Fortinet during the fourth quarter, buying 10,679 shares valued at about $848,000.
• Institutional interest in Fortinet remains strong, with hedge funds and other investors holding 83.71% of the stock. Several large firms, including State Street, Norges Bank, and Bank of New York Mellon, have recently increased their stakes.
• Fortinet reported better-than-expected quarterly results, with EPS of $0.82 and revenue of $1.85 billion, while issuing Q2 and full-year 2026 guidance. Despite solid fundamentals, analysts still rate the stock Hold on average, with a consensus price target of $107.77.

Virtu Financial LLC bought a new position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,679 shares of the software maker's stock, valued at approximately $848,000.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in Fortinet by 1.6% in the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker's stock valued at $2,493,860,000 after purchasing an additional 477,397 shares during the period. Norges Bank bought a new position in shares of Fortinet during the fourth quarter worth approximately $1,152,917,000. Bank of New York Mellon Corp raised its position in shares of Fortinet by 6.6% in the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker's stock valued at $1,151,810,000 after buying an additional 893,190 shares in the last quarter. Invesco Ltd. raised its position in shares of Fortinet by 17.0% in the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker's stock valued at $909,453,000 after buying an additional 1,568,337 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Fortinet by 4.4% in the fourth quarter. First Trust Advisors LP now owns 7,907,686 shares of the software maker's stock valued at $627,949,000 after buying an additional 332,024 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fortinet

In other news, CEO Ken Xie sold 160,632 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the transaction, the chief executive officer owned 52,972,372 shares of the company's stock, valued at $7,711,717,915.76. This represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the stock in a transaction that occurred on 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 transaction, the vice president owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their position. 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. Insiders have sold a total of 318,387 shares of company stock worth $43,403,063 in the last 90 days. Corporate insiders own 17.60% of the company's stock.

Fortinet Stock Performance

NASDAQ:FTNT opened at $144.73 on Monday. The stock's 50-day moving average is $116.11 and its 200-day moving average is $93.45. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $150.07. 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 stock has a market cap of $106.04 billion, a P/E ratio of 55.88, a price-to-earnings-growth ratio of 3.96 and a beta of 1.11.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the business posted $0.58 earnings per share. 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 anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Truist Financial set a $120.00 target price on Fortinet and gave the stock a "buy" rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $100.00 price target on shares of Fortinet in a research note on Thursday, May 7th. Citigroup upped their price objective on shares of Fortinet from $90.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, May 8th. TD Cowen reiterated a "buy" rating and set a $160.00 price objective (up from $125.00) on shares of Fortinet in a research note on Monday, June 8th. Finally, Susquehanna raised their target price on shares of Fortinet from $90.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-five have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Fortinet presently has an average rating of "Hold" and a consensus target price of $107.77.

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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