Motley Fool Asset Management LLC Buys 15,155 Shares of Fortinet, Inc. $FTNT

Motley Fool Asset Management LLC lifted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 24.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 76,968 shares of the software maker’s stock after acquiring an additional 15,155 shares during the period. Motley Fool Asset Management LLC’s holdings in Fortinet were worth $6,112,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Fortinet by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after purchasing an additional 2,894,355 shares during the period. State Street Corp raised its position in Fortinet by 1.6% in the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after purchasing an additional 477,397 shares during the period. Norges Bank purchased a new position in Fortinet in the 4th quarter worth $1,152,917,000. Bank of New York Mellon Corp raised its position in Fortinet by 6.6% in the 4th quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock worth $1,151,810,000 after purchasing an additional 893,190 shares during the period. Finally, Invesco Ltd. raised its position in Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after purchasing an additional 1,568,337 shares during the period. 83.71% of the stock is owned by institutional investors.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of the business’s 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 in the company, valued at $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the business’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 transaction, the chief operating officer owned 94,724 shares in the company, valued at $12,163,508.84. This represents a 60.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 318,387 shares of company stock worth $43,403,063 over the last 90 days. 17.60% of the stock is owned by company insiders.

Fortinet Price Performance

FTNT stock opened at $138.39 on Wednesday. The firm’s 50-day moving average price is $106.04 and its two-hundred day moving average price is $89.80. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $150.07. The stock has a market capitalization of $101.39 billion, a price-to-earnings ratio of 53.43, a PEG ratio of 3.92 and a beta of 1.11. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50.

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 the consensus estimate of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the company earned $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. As a group, equities analysts predict that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Mizuho lifted their target price on shares of Fortinet from $70.00 to $86.00 and gave the stock an “underperform” rating in a research report on Thursday, May 7th. Citigroup lifted their target price 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. UBS Group boosted their price objective on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Rosenblatt Securities boosted their price objective on shares of Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, TD Cowen restated a “buy” rating and issued a $160.00 price objective (up from $125.00) on shares of Fortinet in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $106.43.

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.