Peapack Gladstone Financial Corp Buys 4,406 Shares of Fortinet, Inc. $FTNT

Peapack Gladstone Financial Corp boosted its stake in Fortinet, Inc. (NASDAQ:FTNT) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 236,489 shares of the software maker’s stock after acquiring an additional 4,406 shares during the period. Peapack Gladstone Financial Corp’s holdings in Fortinet were worth $18,780,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after acquiring an additional 221 shares in the last quarter. Bison Wealth LLC purchased a new position in Fortinet in the 4th quarter worth approximately $585,000. HUB Investment Partners LLC grew its stake in Fortinet by 29.1% in the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock worth $560,000 after buying an additional 1,193 shares in the last quarter. Diversify Advisory Services LLC purchased a new position in Fortinet in the 2nd quarter worth approximately $1,136,000. Finally, Quantinno Capital Management LP grew its stake in Fortinet by 27.4% in the 2nd quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock worth $15,328,000 after buying an additional 31,202 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Stock Performance

Shares of FTNT opened at $137.97 on Monday. The stock has a market capitalization of $101.08 billion, a P/E ratio of 53.27, a PEG ratio of 3.80 and a beta of 1.11. 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 firm has a fifty day simple moving average of $96.96 and a two-hundred day simple moving average of $86.65. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $138.11.

Fortinet (NASDAQ:FTNT) last announced its quarterly 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 business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company 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. On average, research analysts anticipate that Fortinet, Inc. will post 2.77 EPS for the current year.

Insider Buying and Selling at Fortinet

In other Fortinet news, VP Michael Xie sold 2,478 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $88.89, for a total value of $220,269.42. Following the completion of the transaction, the vice president directly owned 9,927,517 shares in the company, valued at approximately $882,456,986.13. This represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ken Xie sold 5,355 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $88.90, for a total transaction of $476,059.50. Following the completion of the transaction, the chief executive officer owned 52,978,004 shares of the company’s stock, valued at $4,709,744,555.60. This trade represents a 0.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 153,848 shares of company stock valued at $19,446,115 in the last quarter. Company insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FTNT shares. Sanford C. Bernstein restated a “market perform” rating and issued a $83.00 price objective on shares of Fortinet in a report on Friday, February 6th. Jefferies Financial Group set a $90.00 price objective on shares of Fortinet in a report on Friday, February 6th. Truist Financial set a $120.00 price objective on shares of Fortinet and gave the stock a “buy” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 price objective on shares of Fortinet in a report on Thursday, May 7th. Finally, Wedbush restated an “outperform” rating and set a $90.00 target price on shares of Fortinet in a report on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and an average target price of $102.69.

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.