Vista Investment Partners LLC Increases Holdings in Fortinet, Inc. $FTNT

Key Points

• Vista Investment Partners increased its Fortinet stake by 53.1% in the second quarter, owning 49,058 shares worth approximately $7.5 million. Institutional investors collectively hold 83.71% of Fortinet’s stock.
• Fortinet’s latest quarterly results exceeded expectations, with adjusted EPS of $0.90 versus the $0.75 consensus and revenue of $2.05 billion, up 25.6% year over year.
• Analyst sentiment remains mixed, with Fortinet carrying a consensus “Hold” rating and an average price target of $150.91, below its reported share price of $159.64. Company insiders have sold roughly $69.5 million in stock over the past 90 days.

Vista Investment Partners LLC raised its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 53.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,058 shares of the software maker's stock after acquiring an additional 17,018 shares during the quarter. Fortinet makes up 1.9% of Vista Investment Partners LLC's investment portfolio, making the stock its 11th biggest holding. Vista Investment Partners LLC's holdings in Fortinet were worth $7,537,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Elevation Wealth Partners LLC lifted its stake in Fortinet by 53.6% during the second quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker's stock worth $33,000 after purchasing an additional 75 shares during the last quarter. Wexford Capital LP purchased a new position in Fortinet in the third quarter valued at approximately $25,000. Physician Wealth Advisors Inc. raised 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 purchasing an additional 245 shares in the last quarter. Palisade Asset Management LLC acquired a new stake in Fortinet during the third quarter worth approximately $28,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of Fortinet during the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 83.71% of the company's stock.

Fortinet Price Performance

Shares of NASDAQ:FTNT opened at $159.64 on Monday. The company has a 50-day simple moving average of $153.54 and a 200-day simple moving average of $112.36. Fortinet, Inc. has a one year low of $72.83 and a one year high of $172.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. The stock has a market capitalization of $117.13 billion, a price-to-earnings ratio of 56.21, a PEG ratio of 3.03 and a beta of 1.07.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on FTNT shares. Susquehanna upped their target price on shares of Fortinet from $115.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Mizuho set a $125.00 price target on shares of Fortinet and gave the stock an "underperform" rating in a research note on Wednesday, July 15th. Stifel Nicolaus set a $175.00 price target on shares of Fortinet and gave the company a "hold" rating in a research report on Thursday, July 30th. Rosenblatt Securities upped their price objective on shares of Fortinet from $185.00 to $195.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Finally, Morgan Stanley reaffirmed a "positive" rating and set a $136.00 price objective (up from $133.00) on shares of Fortinet in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $150.91.

Insiders Place Their Bets

In other news, 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 value 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. The trade was a 60.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ken Xie sold 161,482 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the sale, the chief executive officer owned 52,972,372 shares of the company's stock, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 475,157 shares of company stock valued at $69,480,964. 17.60% of the stock is owned by company 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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