3,880 Shares in Fortinet, Inc. $FTNT Purchased by Haverford Trust Co

Haverford Trust Co purchased a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) in the 2nd quarter, Holdings Channel reports. The fund purchased 3,880 shares of the software maker’s stock, valued at approximately $596,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake 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 buying an additional 221 shares during the last quarter. Bison Wealth LLC bought a new position in shares of Fortinet in the fourth quarter valued at approximately $585,000. HUB Investment Partners LLC boosted its holdings in shares of Fortinet by 29.1% in the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock worth $560,000 after acquiring an additional 1,193 shares in the last quarter. Diversify Advisory Services LLC acquired a new position in shares of Fortinet in the 2nd quarter worth approximately $1,136,000. Finally, Quantinno Capital Management LP boosted its holdings 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 acquiring an additional 31,202 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Michael Xie sold 3,121 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.63, for a total value of $507,568.23. Following the transaction, the vice president owned 9,918,360 shares of the company’s stock, valued at approximately $1,613,022,886.80. This trade represents a 0.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at $8,616,486,029.52. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 329,142 shares of company stock valued at $50,731,178 over the last three months. Company insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

FTNT has been the subject of a number of recent analyst reports. Zacks Research raised Fortinet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Citigroup boosted their price objective on Fortinet from $165.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. TD Cowen reiterated a “buy” rating and set a $215.00 price target (up from $160.00) on shares of Fortinet in a research report on Monday, July 13th. Royal Bank Of Canada set a $185.00 price target on shares of Fortinet and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Finally, Compass Point set a $100.00 price objective on shares of Fortinet in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Fortinet has a consensus rating of “Hold” and a consensus price target of $150.91.

Fortinet Stock Up 1.8%

NASDAQ FTNT opened at $153.51 on Friday. The stock has a fifty day moving average of $156.24 and a 200-day moving average of $117.61. The stock has a market capitalization of $112.63 billion, a P/E ratio of 54.05, a price-to-earnings-growth ratio of 2.91 and a beta of 1.07. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $172.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The firm’s quarterly revenue 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. On average, equities research analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current year.

Fortinet Company 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.