Tempo Wealth LLC Makes New Investment in Fortinet, Inc. $FTNT

Tempo Wealth LLC purchased a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,102 shares of the software maker’s stock, valued at approximately $564,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Pinnacle Holdings LLC acquired a new position in Fortinet during the third quarter worth about $25,000. Ameriflex Group Inc. acquired a new stake in shares of Fortinet during the 3rd quarter valued at approximately $25,000. Wexford Capital LP purchased a new stake in shares of Fortinet during the 3rd quarter worth approximately $25,000. Elyxium Wealth LLC purchased a new stake in shares of Fortinet during the 4th quarter worth approximately $27,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Fortinet in the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Up 0.4%

FTNT opened at $144.73 on Friday. 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 market cap of $106.04 billion, a P/E ratio of 55.88, a PEG ratio of 3.95 and a beta of 1.11. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $150.07. The business’s fifty day simple moving average is $114.89 and its 200 day simple moving average is $93.01.

Fortinet (NASDAQ:FTNT) last announced its 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 firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous 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. As a group, equities research analysts anticipate that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer owned 94,724 shares in the company, valued at $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. DZ Bank cut Fortinet from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a report on Tuesday, May 19th. Citigroup upped their target price on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 8th. TD Cowen restated a “buy” rating and issued a $160.00 price target (up from $125.00) on shares of Fortinet in a research report on Monday, June 8th. Truist Financial set a $120.00 price target on Fortinet and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $100.00 price objective on shares of Fortinet in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Fortinet has an average rating of “Hold” and a consensus price target of $107.77.

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.