Van ECK Associates Corp Grows Stock Holdings in Fortinet, Inc. $FTNT

Van ECK Associates Corp lifted its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 38.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,730,954 shares of the software maker’s stock after purchasing an additional 2,166,396 shares during the period. Van ECK Associates Corp owned about 1.04% of Fortinet worth $613,915,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FTNT. Victory Capital Management Inc. raised its holdings in Fortinet by 1.0% during the fourth quarter. Victory Capital Management Inc. now owns 1,667,582 shares of the software maker’s stock worth $132,423,000 after purchasing an additional 15,899 shares in the last quarter. Ieq Capital LLC raised its holdings in Fortinet by 141.1% during the fourth quarter. Ieq Capital LLC now owns 366,911 shares of the software maker’s stock worth $29,136,000 after purchasing an additional 214,711 shares in the last quarter. Titan Investment Solutions Ltd purchased a new position in Fortinet during the fourth quarter worth about $18,920,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Fortinet by 4.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,615,443 shares of the software maker’s stock worth $525,332,000 after purchasing an additional 251,449 shares in the last quarter. Finally, Banco Santander S.A. grew its position in Fortinet by 1.9% during the fourth quarter. Banco Santander S.A. now owns 48,763 shares of the software maker’s stock worth $3,872,000 after buying an additional 925 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Susquehanna upped 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. Mizuho upped 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. Wells Fargo & Company restated an “underweight” rating and set a $70.00 target price (up from $64.00) on shares of Fortinet in a research report on Thursday, May 7th. Robert W. Baird set a $115.00 target price on shares of Fortinet in a research report on Thursday, May 7th. Finally, Truist Financial set a $120.00 price target on shares of Fortinet and gave the company a “buy” rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $107.77.

Insider Buying and Selling

In related news, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 Fortinet stock in a transaction on 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 completion of the transaction, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is owned by insiders.

Fortinet Stock Up 0.9%

Shares of NASDAQ FTNT opened at $146.30 on Friday. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $150.07. The firm’s 50 day moving average price is $109.80 and its 200 day moving average price is $91.08. The firm has a market cap of $107.19 billion, a P/E ratio of 56.49, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11. 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 (NASDAQ:FTNT) last announced its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business earned $0.58 earnings per share. Fortinet’s 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. As a group, sell-side analysts anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current year.

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.