Fortinet, Inc. $FTNT Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 60.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,390,542 shares of the software maker’s stock after acquiring an additional 522,684 shares during the period. SG Americas Securities LLC’s holdings in Fortinet were worth $113,635,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. State Street Corp raised its holdings in Fortinet by 1.6% in the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after acquiring an additional 477,397 shares in the last quarter. Norges Bank bought a new stake in shares of Fortinet in the 4th quarter worth about $1,152,917,000. Bank of New York Mellon Corp increased its position in shares of 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 last quarter. Invesco Ltd. raised its stake in shares of Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after purchasing an additional 1,568,337 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Fortinet by 4.4% in the 4th quarter. First Trust Advisors LP now owns 7,907,686 shares of the software maker’s stock valued at $627,949,000 after purchasing an additional 332,024 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Price Performance

FTNT opened at $144.73 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $116.11 and its 200 day moving average price is $93.45. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $150.07. The firm has a market cap of $106.04 billion, a price-to-earnings ratio of 55.88, a price-to-earnings-growth ratio of 3.96 and a beta of 1.11.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.Fortinet’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $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, sell-side analysts expect that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the transaction, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 318,387 shares of company stock valued at $43,403,063. Insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

FTNT has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price target on Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, May 7th. Barclays set a $155.00 target price on Fortinet and gave the stock an “equal weight” rating in a report on Friday, June 12th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 target price on shares of Fortinet in a research report on Tuesday, April 21st. Mizuho boosted their price target on Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $70.00 price target (up from $64.00) on shares of Fortinet in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-five have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Fortinet has an average rating of “Hold” and an average price target of $107.77.

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.