Fortinet (NASDAQ:FTNT) COO Sells $478,377.90 in Stock

Fortinet, Inc. (NASDAQ:FTNT) COO John Whittle sold 2,835 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $168.74, for a total value of $478,377.90. Following the completion of the sale, the chief operating officer owned 96,987 shares in the company, valued at approximately $16,365,586.38. The trade was a 2.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Whittle also recently made the following trade(s):

• On Monday, September 14th, John Whittle sold 53,865 shares of Fortinet stock. The stock was sold at an average price of $165.44, for a total value of $8,911,425.60.

Fortinet Stock Down 1.6%

Shares of FTNT opened at $169.84 on Friday. The firm has a fifty day moving average price of $160.14 and a 200-day moving average price of $128.92. 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 firm has a market capitalization of $124.61 billion, a P/E ratio of 59.80, a P/E/G ratio of 3.25 and a beta of 1.06. Fortinet, Inc. has a 12-month low of $73.55 and a 12-month high of $176.10.

Fortinet (NASDAQ:FTNT) last posted 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. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm’s revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. 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 expect that Fortinet, Inc. will post 3.07 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on FTNT. The Goldman Sachs Group reissued a “buy” rating and issued a $190.00 price objective on shares of Fortinet in a research note on Thursday, July 30th. Weiss Ratings raised Fortinet from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Evercore set a $165.00 target price on Fortinet in a report on Thursday, July 30th. Wall Street Zen raised Fortinet from a “hold” rating to a “buy” rating in a research report on Monday, August 3rd. Finally, Scotiabank restated a “sector perform” rating and set a $163.00 price target on shares of Fortinet in a research note on Thursday, July 30th. Two 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 stock. According to MarketBeat, Fortinet has a consensus rating of “Hold” and a consensus target price of $152.79.

Institutional Trading of Fortinet

A number of hedge funds have recently bought and sold shares of FTNT. BlackRock Inc. purchased a new stake in shares of Fortinet during the 2nd quarter worth $9,561,650,000. Norges Bank bought a new stake in Fortinet during the fourth quarter valued at about $1,152,917,000. Bank of New York Mellon Corp purchased a new position in Fortinet in the second quarter valued at about $1,432,842,000. Legal & General Group Plc purchased a new position in Fortinet in the second quarter valued at about $979,062,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Fortinet by 87.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock worth $788,682,000 after purchasing an additional 4,500,194 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Company Profile

Fortinet, Inc develops cybersecurity products and services designed to protect enterprise, small and midsize business, service provider, and government networks. Its portfolio covers network security, endpoint protection, cloud security, secure access service edge (SASE), security operations, and zero-trust access.

The company’s offerings include FortiGate next-generation firewalls, FortiSwitch secure networking switches, FortiAP wireless access points, FortiClient endpoint security, and FortiManager and FortiAnalyzer management and analytics tools.