Landscape Capital Management L.L.C. Buys Shares of 23,557 Fortinet, Inc. $FTNT

Landscape Capital Management L.L.C. bought a new position in Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, HoldingsChannel reports. The institutional investor bought 23,557 shares of the software maker’s stock, valued at approximately $3,619,000.

Other hedge funds have also recently modified their holdings of the company. Elevation Wealth Partners LLC lifted its holdings in shares of Fortinet by 53.6% during the second quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock valued at $33,000 after purchasing an additional 75 shares in the last quarter. Florida Financial Advisors LLC increased its holdings in Fortinet by 3.0% in the 1st quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock worth $309,000 after buying an additional 109 shares in the last quarter. Optimist Retirement Group LLC increased its holdings in Fortinet by 2.5% in the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock worth $398,000 after buying an additional 122 shares in the last quarter. GW&K Investment Management LLC raised its position in Fortinet by 31.4% in the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock worth $41,000 after buying an additional 123 shares during the last quarter. Finally, Delta Investment Management LLC lifted its stake in Fortinet by 2.4% during the 4th quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock valued at $417,000 after acquiring an additional 125 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Activity at Fortinet

In related news, VP Michael Xie sold 3,121 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the sale, the vice president directly owned 9,918,360 shares in the company, valued at approximately $1,613,022,886.80. The trade was a 0.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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, CEO Ken Xie sold 161,482 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $8,616,486,029.52. This represents a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 329,142 shares of company stock valued at $50,731,178 over the last 90 days. 17.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FTNT has been the topic of a number of recent analyst reports. Royal Bank Of Canada set a $185.00 price target on shares of Fortinet and gave the company a “sector perform” rating in a report on Thursday, July 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $185.00 price objective (up from $165.00) on shares of Fortinet in a report on Thursday, July 30th. Susquehanna increased their price objective on shares of Fortinet from $115.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Arete Research set a $104.00 target price on shares of Fortinet and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, Weiss Ratings downgraded shares of Fortinet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $150.91.

Fortinet Stock Up 1.8%

FTNT stock opened at $153.51 on Friday. Fortinet, Inc. has a fifty-two week low of $73.55 and a fifty-two week high of $172.09. The business’s 50-day moving average is $156.24 and its two-hundred day moving average is $117.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. The company has a market cap of $112.63 billion, a price-to-earnings ratio of 54.05, a P/E/G ratio of 2.86 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating 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 firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, analysts forecast that Fortinet, Inc. will post 3.05 earnings per share for the current year.

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.