Fortinet, Inc. $FTNT Stock Position Decreased by Inspire Investing LLC

Inspire Investing LLC trimmed its stake in Fortinet, Inc. (NASDAQ:FTNT) by 3.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 106,964 shares of the software maker’s stock after selling 4,251 shares during the quarter. Fortinet makes up 0.7% of Inspire Investing LLC’s holdings, making the stock its 18th largest holding. Inspire Investing LLC’s holdings in Fortinet were worth $8,741,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Intrua Financial LLC purchased a new stake in shares of Fortinet during the first quarter valued at $215,000. Groesbeck Investment Management Corp NJ boosted its position in shares of Fortinet by 2.4% in the 1st quarter. Groesbeck Investment Management Corp NJ now owns 14,995 shares of the software maker’s stock valued at $1,225,000 after purchasing an additional 346 shares during the period. Apollon Wealth Management LLC increased its stake in Fortinet by 10.2% in the 1st quarter. Apollon Wealth Management LLC now owns 21,041 shares of the software maker’s stock worth $1,719,000 after purchasing an additional 1,941 shares in the last quarter. Patton Fund Management Inc. increased its stake in Fortinet by 9.2% in the 1st quarter. Patton Fund Management Inc. now owns 2,918 shares of the software maker’s stock worth $238,000 after purchasing an additional 247 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in Fortinet by 103.5% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 41,156 shares of the software maker’s stock worth $3,363,000 after buying an additional 20,932 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

Fortinet Stock Up 2.7%

Shares of Fortinet stock opened at $155.42 on Tuesday. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $159.07. The company has a market cap of $113.87 billion, a P/E ratio of 60.01, a P/E/G ratio of 4.14 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. The stock has a 50-day moving average price of $124.48 and a 200 day moving average price of $96.20.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.20. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.58 EPS. 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, analysts expect that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Insider Activity at Fortinet

In other Fortinet news, CEO Ken Xie sold 160,632 shares of the stock in a transaction that occurred 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 sale, the chief executive officer owned 52,972,372 shares in the company, valued at $7,711,717,915.76. This represents a 0.30% decrease in their position. The transaction 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, VP Michael Xie sold 3,907 shares of Fortinet 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 sale, the vice president directly 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 position. 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. Over the last three months, insiders have sold 318,387 shares of company stock valued at $43,403,063. Corporate insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FTNT. Weiss Ratings raised shares of Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Susquehanna 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. Stifel Nicolaus set a $85.00 price target on shares of Fortinet in a report on Wednesday, March 11th. Stephens set a $115.00 price target on shares of Fortinet and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $87.00 price objective on shares of Fortinet in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $107.58.

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.