Fortinet, Inc. $FTNT Holdings Raised by Pacer Advisors Inc.

Pacer Advisors Inc. raised its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 22.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 417,286 shares of the software maker’s stock after purchasing an additional 77,804 shares during the period. Pacer Advisors Inc.’s holdings in Fortinet were worth $34,101,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wexford Capital LP acquired a new stake in Fortinet during the third quarter valued at $25,000. Physician Wealth Advisors Inc. grew its stake in Fortinet by 408.3% in the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after purchasing an additional 245 shares in the last quarter. Palisade Asset Management LLC acquired a new position in Fortinet in the 3rd quarter worth about $28,000. Elyxium Wealth LLC acquired a new position in Fortinet in the 4th quarter worth about $27,000. Finally, Maseco LLP purchased a new stake in shares of Fortinet during the 1st quarter worth about $29,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FTNT. Morgan Stanley reiterated a “positive” rating and set a $136.00 price target (up from $133.00) on shares of Fortinet in a report on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, May 7th. Barclays set a $190.00 price objective on shares of Fortinet and gave the company an “equal weight” rating in a research report on Thursday. Stifel Nicolaus set a $175.00 target price on shares of Fortinet and gave the stock a “hold” rating in a research report on Thursday. Finally, Compass Point set a $100.00 target price on shares of Fortinet in a research report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Fortinet has an average rating of “Hold” and a consensus target price of $150.91.

Fortinet Stock Performance

FTNT opened at $163.21 on Tuesday. The company has a market cap of $119.75 billion, a PE ratio of 57.47, a price-to-earnings-growth ratio of 3.93 and a beta of 1.07. The stock has a 50-day moving average of $151.09 and a 200-day moving average of $109.91. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $170.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the business earned $0.64 EPS. The firm’s revenue was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, equities research analysts forecast that Fortinet, Inc. will post 2.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortinet

In other news, COO John Whittle sold 146,015 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the sale, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $23,384,806.56. Following the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. This represents 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. Insiders have sold a total of 310,554 shares of company stock worth $42,706,734 over the last 90 days. Insiders own 17.60% of the company’s stock.

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.