West Family Investments Inc. Invests $727,000 in Fortinet, Inc. $FTNT

West Family Investments Inc. acquired a new position in Fortinet, Inc. (NASDAQ:FTNT) in the 2nd quarter, Holdings Channel reports. The firm acquired 4,731 shares of the software maker’s stock, valued at approximately $727,000.

Other hedge funds also recently made changes to their positions in the company. Expressive Wealth LLC purchased a new stake in shares of Fortinet during the fourth quarter worth about $646,000. Transamerica Financial Advisors LLC acquired a new stake in Fortinet during the second quarter valued at approximately $492,000. Leonteq Securities AG bought a new position in Fortinet during the 4th quarter worth approximately $10,422,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Fortinet in the 4th quarter worth approximately $14,638,000. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Fortinet by 156.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock valued at $31,009,000 after acquiring an additional 238,299 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Activity

In other news, VP Michael Xie sold 3,121 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the transaction, 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 is accessible 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 stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. 17.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FTNT shares. Rosenblatt Securities raised their price objective on Fortinet from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $160.00 price target on shares of Fortinet in a research report on Thursday, July 30th. Piper Sandler reaffirmed a “neutral” rating and set a $175.00 price objective (up from $110.00) on shares of Fortinet in a research report on Thursday, July 30th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Fortinet in a research note on Monday, August 24th. Finally, Morgan Stanley reissued a “positive” rating and issued a $136.00 target price (up from $133.00) on shares of Fortinet in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $150.91.

Fortinet Stock Performance

Shares of FTNT traded up $1.18 during midday trading on Tuesday, hitting $157.47. 3,575,179 shares of the stock traded hands, compared to its average volume of 6,152,005. Fortinet, Inc. has a 1-year low of $73.55 and a 1-year high of $173.89. The firm has a market capitalization of $115.54 billion, a PE ratio of 55.45, a price-to-earnings-growth ratio of 2.96 and a beta of 1.06. 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 business’s 50 day moving average price is $158.90 and its two-hundred day moving average price is $123.78.

Fortinet (NASDAQ:FTNT) last released its quarterly 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 business 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 earnings per share. The company’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. Equities research analysts predict that Fortinet, Inc. will post 3.05 EPS for the current fiscal 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.