Fortinet, Inc. $FTNT Holdings Raised by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its stake in Fortinet, Inc. (NASDAQ:FTNT) by 22.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 417,286 shares of the software maker’s stock after buying an additional 77,804 shares during the period. Pacer Advisors Inc. owned 0.06% of Fortinet worth $34,101,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FTNT. Brighton Jones LLC raised its holdings in Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after purchasing an additional 221 shares in the last quarter. Bison Wealth LLC bought a new position in Fortinet during the 4th quarter valued at $585,000. HUB Investment Partners LLC increased its position in shares of Fortinet by 29.1% during the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after purchasing an additional 1,193 shares during the period. Diversify Advisory Services LLC acquired a new position in shares of Fortinet during the 2nd quarter valued at $1,136,000. Finally, Quantinno Capital Management LP raised its stake in shares of 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. 83.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FTNT has been the subject of several research reports. BMO Capital Markets raised their target price on Fortinet from $170.00 to $185.00 and gave the company a “market perform” rating in a research note on Thursday, July 30th. TD Cowen reiterated a “buy” rating and issued a $215.00 price target (up from $160.00) on shares of Fortinet in a research report on Monday, July 13th. HSBC lowered shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price objective for the company. in a research report on Monday, June 29th. Stephens set a $115.00 price objective on shares of Fortinet and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Finally, Wolfe Research set a $175.00 target price on shares of Fortinet in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty-one have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, Fortinet presently has an average rating of “Hold” and a consensus price target of $150.91.

Insider Buying and Selling at Fortinet

In other news, COO John Whittle sold 146,015 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the sale, the chief operating officer owned 94,724 shares in the company, valued at $12,163,508.84. This 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 at this link. Also, CEO Ken Xie sold 160,632 shares of the firm’s stock in a transaction 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 directly 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 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. Insiders have sold a total of 310,554 shares of company stock valued at $42,706,734 in the last three months. 17.60% of the stock is currently owned by company insiders.

Fortinet Trading Up 0.8%

Shares of FTNT opened at $163.21 on Tuesday. The business’s 50-day moving average price is $151.09 and its 200 day moving average price is $109.91. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $119.75 billion, a P/E ratio of 57.47, a P/E/G ratio of 3.93 and a beta of 1.07. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $170.35.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. 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 expect that Fortinet, Inc. will post 2.82 earnings per share for the current year.

Fortinet Profile

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.