Fortinet, Inc. $FTNT Shares Sold by Inspire Investing LLC

Inspire Investing LLC cut its position in Fortinet, Inc. (NASDAQ:FTNT) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 106,964 shares of the software maker’s stock after selling 4,251 shares during the quarter. Fortinet comprises 0.7% of Inspire Investing LLC’s holdings, making the stock its 18th biggest position. Inspire Investing LLC’s holdings in Fortinet were worth $8,741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FTNT. Optimist Retirement Group LLC raised its holdings in shares of Fortinet by 2.5% during the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock valued at $398,000 after buying an additional 122 shares during the last quarter. PDS Planning Inc boosted its position in shares of Fortinet by 3.1% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock worth $326,000 after buying an additional 123 shares during the period. GW&K Investment Management LLC grew its holdings 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 in the last quarter. Delta Investment Management LLC grew its holdings in Fortinet by 2.4% in the 4th quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock worth $417,000 after buying an additional 125 shares in the last quarter. Finally, Catalyst Capital Advisors LLC increased its position in Fortinet by 2.0% in the 4th quarter. Catalyst Capital Advisors LLC now owns 6,459 shares of the software maker’s stock valued at $513,000 after acquiring an additional 128 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the company. UBS Group lifted their target price on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Stifel Nicolaus set a $85.00 price target on Fortinet in a research note on Wednesday, March 11th. Barclays set a $155.00 price target on Fortinet and gave the company an “equal weight” rating in a report on Friday, June 12th. Piper Sandler lifted their price objective on shares of Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, HSBC downgraded shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price objective for the company. in a report on Monday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, Fortinet has a consensus rating of “Hold” and an average price target of $107.58.

Insider Buying and Selling

In other news, CEO Ken Xie sold 160,632 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the transaction, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This represents a 0.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 318,387 shares of company stock valued at $43,403,063 over the last three months. Company insiders own 17.60% of the company’s stock.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $155.42 on Tuesday. The stock has a fifty day moving average price of $124.48 and a two-hundred day moving average price of $96.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The firm has a market cap of $113.87 billion, a P/E ratio of 60.01, a PEG ratio of 4.14 and a beta of 1.11. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $159.07.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.20. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period last year, the firm earned $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Research analysts forecast that Fortinet, Inc. will post 2.78 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.