QRG Capital Management Inc. Boosts Stock Position in Fortinet, Inc. $FTNT

QRG Capital Management Inc. boosted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 14.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 62,197 shares of the software maker’s stock after acquiring an additional 7,839 shares during the period. QRG Capital Management Inc.’s holdings in Fortinet were worth $4,939,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allstate Corp purchased a new stake in Fortinet during the 3rd quarter valued at $2,034,000. Trilogy Capital Inc. increased its position in Fortinet by 46.8% during the fourth quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock valued at $3,506,000 after acquiring an additional 14,076 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Fortinet by 465.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 756,651 shares of the software maker’s stock valued at $64,255,000 after acquiring an additional 622,809 shares during the last quarter. Machina Capital S.A.S. purchased a new stake in shares of Fortinet in the third quarter valued at $1,177,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Fortinet by 5.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,651,683 shares of the software maker’s stock worth $138,874,000 after acquiring an additional 90,284 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FTNT. Barclays set a $88.00 price target on shares of Fortinet in a research note on Tuesday, February 3rd. Scotiabank downgraded shares of Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 price objective for the company. in a research note on Monday, February 2nd. UBS Group restated a “neutral” rating and set a $90.00 target price on shares of Fortinet in a research report on Friday, February 6th. Jefferies Financial Group set a $90.00 price target on Fortinet in a report on Friday, February 6th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $83.00 price target on shares of Fortinet in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-one have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $88.38.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q1 beat and upgraded guidance — Fortinet reported $0.82 EPS vs. $0.61 expected and $1.85B revenue vs. $1.73B expected; management raised Q2 EPS and FY‑2026 EPS and revenue guidance, providing a clear catalyst for near‑term upside. Fortinet Reports Strong First Quarter 2026 Financial Results
• Positive Sentiment: Operational strength — Revenue +20% YoY, product revenue +41%, billings +31%, and record operating/free cash flow, which support margins and long‑term SaaS/recurring revenue durability. Q1 Press Release / Slide Deck
• Positive Sentiment: Analyst support — BMO lifted its price target to $100 (market‑perform), backing the stock’s upside narrative and may attract buy‑side flows. BMO Capital Markets Issues Positive Forecast for Fortinet (NASDAQ:FTNT) Stock Price
• Positive Sentiment: Product news: FortiGate G series launch — New ASIC‑accelerated appliances positioned to secure AI workloads, reinforcing Fortinet’s product leadership in a growing AI/security spending cycle. Fortinet Expands FortiGate G Series
• Neutral Sentiment: Insider sales disclosed — CEO and VP sold shares under pre‑arranged 10b5‑1 plans to cover taxes on vested awards; routine but can be perceived as liquidity. SEC Form 4 — Insider Sales
• Neutral Sentiment: Analyst mix — Several firms maintain neutral/hold ratings and divergent price targets, so further upside may depend on sustained execution vs. raised guidance. MarketBeat Analyst Notes
• Negative Sentiment: Institutional trimming and downgrade risk — Some large holders have trimmed positions and there remain sell/hold ratings that could limit momentum if upcoming quarters slow. QuiverQuant — Positioning & Institutional Moves

Fortinet Stock Performance

Shares of NASDAQ:FTNT opened at $89.95 on Thursday. The firm’s 50 day simple moving average is $82.32 and its 200-day simple moving average is $81.81. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17. Fortinet, Inc. has a one year low of $70.12 and a one year high of $108.77. The firm has a market cap of $65.85 billion, a PE ratio of 37.02, a price-to-earnings-growth ratio of 3.08 and a beta of 0.92.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.Fortinet’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, equities analysts predict that Fortinet, Inc. will post 2.63 EPS for the current year.

Insider Buying and Selling at Fortinet

In related news, CEO Ken Xie sold 5,355 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $88.90, for a total value of $476,059.50. Following the completion of the sale, the chief executive officer directly owned 52,978,004 shares of the company’s stock, valued at $4,709,744,555.60. This represents a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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. Also, VP Michael Xie sold 2,478 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $88.89, for a total transaction of $220,269.42. Following the transaction, the vice president directly owned 9,927,517 shares in the company, valued at $882,456,986.13. This trade represents a 0.02% 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. Company insiders own 17.20% 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.