Inspire Investing LLC Raises Stock Holdings in Fortinet, Inc. $FTNT

Inspire Investing LLC boosted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 14.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,215 shares of the software maker’s stock after purchasing an additional 13,631 shares during the quarter. Fortinet makes up 0.8% of Inspire Investing LLC’s holdings, making the stock its 16th largest position. Inspire Investing LLC’s holdings in Fortinet were worth $8,832,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FTNT. Norges Bank purchased a new position in Fortinet during the fourth quarter worth approximately $1,152,917,000. Van ECK Associates Corp boosted its position in Fortinet by 38.9% during the fourth quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock worth $613,915,000 after purchasing an additional 2,166,396 shares in the last quarter. First Trust Advisors LP boosted its position in Fortinet by 30.9% during the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock worth $636,962,000 after purchasing an additional 1,790,033 shares in the last quarter. AQR Capital Management LLC boosted its position in Fortinet by 76.2% during the fourth quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock worth $326,297,000 after purchasing an additional 1,777,115 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Fortinet by 17.0% during the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after purchasing an additional 1,568,337 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Negative Sentiment: Researchers said a sweeping hack campaign compromised Fortinet devices at prominent organizations, adding fresh scrutiny to the company’s security posture. Researcher report on hack campaign
• Negative Sentiment: Cybercriminals allegedly compromised tens of thousands of Fortinet firewalls and VPNs used by major companies, reinforcing fears of active exploitation and creating near-term overhang on the stock. TechCrunch hack report
• Negative Sentiment: Market commentary said FTNT is sliding as investors react to renewed vulnerability headlines and profit-taking after a recent run-up, suggesting some traders are locking in gains. Quiver Quant analysis

Fortinet Price Performance

NASDAQ:FTNT opened at $144.14 on Thursday. Fortinet, Inc. has a one year low of $70.12 and a one year high of $150.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The stock has a market cap of $105.60 billion, a PE ratio of 55.65, a P/E/G ratio of 4.02 and a beta of 1.11. The stock has a 50 day moving average price of $113.67 and a 200 day moving average price of $92.56.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the firm earned $0.58 earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Equities research analysts expect that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FTNT has been the topic of a number of recent analyst reports. Robert W. Baird set a $115.00 price target on Fortinet in a research report on Thursday, May 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $87.00 price target on shares of Fortinet in a research report on Tuesday, April 21st. Stifel Nicolaus set a $85.00 price target on Fortinet in a research report on Wednesday, March 11th. Weiss Ratings raised Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Finally, Mizuho increased their target price on Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Fortinet presently has an average rating of “Hold” and an average target price of $107.77.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was 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 of the company’s stock, valued at approximately $7,711,717,915.76. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the sale, the vice president directly owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by 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.