6,932 Shares in Fortinet, Inc. $FTNT Purchased by Patron Partners LLC

Patron Partners LLC acquired a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,932 shares of the software maker’s stock, valued at approximately $1,065,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Elevation Wealth Partners LLC boosted its holdings in shares of Fortinet by 53.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after purchasing an additional 75 shares during the period. Florida Financial Advisors LLC increased its position in shares of Fortinet by 3.0% during the 1st quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock valued at $309,000 after purchasing an additional 109 shares during the last quarter. Optimist Retirement Group LLC raised its holdings in Fortinet by 2.5% during the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock valued at $398,000 after buying an additional 122 shares during the period. GW&K Investment Management LLC raised its holdings in Fortinet by 31.4% during the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock valued at $41,000 after buying an additional 123 shares during the period. Finally, Delta Investment Management LLC lifted its position in Fortinet by 2.4% in the fourth quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock worth $417,000 after buying an additional 125 shares during the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Fortinet Stock Performance

FTNT stock opened at $153.51 on Friday. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $172.09. The firm has a market cap of $112.63 billion, a price-to-earnings ratio of 54.05, a PEG ratio of 2.86 and a beta of 1.07. The business’s fifty day simple moving average is $156.24 and its two-hundred day simple moving average is $117.61. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Analysts predict that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Evercore set a $165.00 price objective on shares of Fortinet in a research note on Thursday, July 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $185.00 target price (up from $165.00) on shares of Fortinet in a report on Thursday, July 30th. Rosenblatt Securities lifted their price target on shares of Fortinet from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. UBS Group reiterated a “neutral” rating and set a $180.00 price target on shares of Fortinet in a report on Thursday, July 30th. Finally, Robert W. Baird set a $165.00 price objective on shares of Fortinet in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $150.91.

Insider Transactions at Fortinet

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. The trade was a 0.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, VP Michael Xie sold 3,121 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the transaction, the vice president owned 9,918,360 shares in the company, valued at $1,613,022,886.80. This represents a 0.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 have sold a total of 329,142 shares of company stock valued at $50,731,178 in the last quarter. 17.60% of the stock is currently owned by company insiders.

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.