Fortinet (NASDAQ:FTNT) CEO Ken Xie Sells 160,632 Shares

Fortinet, Inc. (NASDAQ:FTNT) CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. This trade represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ken Xie also recently made the following trade(s):

• On Monday, May 4th, Ken Xie sold 5,355 shares of Fortinet stock. The shares were sold at an average price of $88.90, for a total transaction of $476,059.50.

Fortinet Stock Down 1.6%

Shares of FTNT opened at $146.48 on Thursday. The firm has a market cap of $107.32 billion, a PE ratio of 56.56, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. The company’s fifty day moving average is $100.87 and its two-hundred day moving average is $88.03. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $149.03. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.

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 analysts’ consensus estimates of $0.62 by $0.20. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. Fortinet’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the business earned $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. Analysts forecast that Fortinet, Inc. will post 2.77 earnings per share for the current year.

Institutional Investors Weigh In On Fortinet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pinnacle Holdings LLC bought a new stake in shares of Fortinet in the 3rd quarter worth about $25,000. Ameriflex Group Inc. bought a new stake in shares of Fortinet during the 3rd quarter valued at about $25,000. Physician Wealth Advisors Inc. grew its position in shares of Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after buying an additional 245 shares during the last quarter. Wexford Capital LP bought a new stake in shares of Fortinet during the 3rd quarter valued at about $25,000. Finally, Elyxium Wealth LLC bought a new stake in shares of Fortinet during the 4th quarter valued at about $27,000. Institutional investors own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FTNT. Zacks Research raised shares of Fortinet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 14th. Truist Financial set a $120.00 price target on shares of Fortinet and gave the stock a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings downgraded shares of Fortinet from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 19th. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of Fortinet in a research note on Friday, February 6th. Finally, Jefferies Financial Group set a $90.00 price target on shares of Fortinet in a research note on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Fortinet has a consensus rating of “Hold” and a consensus price target 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.