Y.D. More Investments Ltd Sells 29,432 Shares of Fortinet, Inc. $FTNT

Key Points

• Y.D. More Investments Ltd cut its Fortinet stake by 50.2% in the first quarter, selling 29,432 shares and leaving it with 29,203 shares worth about $2.39 million.
• Fortinet reported better-than-expected Q1 results, with EPS of $0.82 versus $0.62 expected and revenue of $1.85 billion, up 20.1% year over year. The company also issued Q2 and full-year 2026 guidance.
• Analyst sentiment remains cautious overall: Fortinet has an average “Hold” rating and an average target price of $108.74, even after several firms raised their price targets.

Y.D. More Investments Ltd lessened its stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 50.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,203 shares of the software maker's stock after selling 29,432 shares during the period. Y.D. More Investments Ltd's holdings in Fortinet were worth $2,386,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Physician Wealth Advisors Inc. increased its stake in shares of 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 purchasing an additional 245 shares during the last quarter. Wexford Capital LP purchased a new position in Fortinet in the third quarter valued at approximately $25,000. Elyxium Wealth LLC bought a new position in Fortinet during the fourth quarter valued at $27,000. Palisade Asset Management LLC bought a new position in Fortinet during the third quarter valued at $28,000. Finally, Ares Financial Consulting LLC purchased a new stake in Fortinet in the fourth quarter worth $29,000. Institutional investors own 83.71% of the company's stock.

Analysts Set New Price Targets

FTNT has been the topic of several research reports. Barclays set a $155.00 target price on Fortinet and gave the company an "equal weight" rating in a research note on Friday, June 12th. Susquehanna lifted their price objective on Fortinet from $90.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. Royal Bank Of Canada restated a "sector perform" rating and issued a $107.00 price objective (up from $90.00) on shares of Fortinet in a research note on Thursday, May 7th. Scotiabank upped their price objective on shares of Fortinet from $85.00 to $110.00 and gave the company a "sector perform" rating in a report on Thursday, May 7th. Finally, Stephens set a $115.00 target price on shares of Fortinet and gave the stock an "equal weight" rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have assigned a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $108.74.

Fortinet Stock Performance

Shares of FTNT opened at $157.51 on Monday. The stock's 50-day simple moving average is $137.74 and its 200 day simple moving average is $101.08. The stock has a market capitalization of $115.40 billion, a price-to-earnings ratio of 60.81, a price-to-earnings-growth ratio of 4.28 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $165.28.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its earnings results 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 analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm earned $0.58 EPS. The company's quarterly revenue 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. Research analysts forecast that Fortinet, Inc. will post 2.8 EPS for the current fiscal year.

Insider Activity at Fortinet

In other Fortinet news, CEO Ken Xie sold 160,632 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company's stock, valued at $7,711,717,915.76. This trade represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 business's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction 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. This trade represents a 0.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 318,387 shares of company stock valued at $43,403,063. 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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