QRG Capital Management Inc. Purchases 7,839 Shares of Fortinet, Inc. $FTNT

QRG Capital Management Inc. boosted its position in Fortinet, Inc. (NASDAQ:FTNT) by 14.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,197 shares of the software maker’s stock after purchasing an additional 7,839 shares during the period. QRG Capital Management Inc.’s holdings in Fortinet were worth $4,939,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC grew its position in Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after buying an additional 221 shares during the period. Bison Wealth LLC purchased a new position in shares of Fortinet during the 4th quarter worth $585,000. HUB Investment Partners LLC grew its position in shares of Fortinet by 29.1% during the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after acquiring an additional 1,193 shares during the period. Diversify Advisory Services LLC bought a new stake in shares of Fortinet during the 2nd quarter valued at $1,136,000. Finally, Quantinno Capital Management LP increased its stake 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 purchasing an additional 31,202 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FTNT. Arete Research set a $104.00 target price on Fortinet and gave the company a “buy” rating in a research report on Monday, April 27th. Rosenblatt Securities raised their price objective on Fortinet from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Oppenheimer reaffirmed a “market perform” rating on shares of Fortinet in a research report on Friday, January 23rd. Weiss Ratings upgraded Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Finally, Citigroup restated a “neutral” rating and set a $90.00 target price (up from $85.00) on shares of Fortinet in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-one have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $88.38.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q1 beat and upgraded guidance — Fortinet reported $0.82 EPS vs. $0.61 expected and $1.85B revenue vs. $1.73B expected; management raised Q2 EPS and FY‑2026 EPS and revenue guidance, providing a clear catalyst for near‑term upside. Fortinet Reports Strong First Quarter 2026 Financial Results
• Positive Sentiment: Operational strength — Revenue +20% YoY, product revenue +41%, billings +31%, and record operating/free cash flow, which support margins and long‑term SaaS/recurring revenue durability. Q1 Press Release / Slide Deck
• Positive Sentiment: Analyst support — BMO lifted its price target to $100 (market‑perform), backing the stock’s upside narrative and may attract buy‑side flows. BMO Capital Markets Issues Positive Forecast for Fortinet (NASDAQ:FTNT) Stock Price
• Positive Sentiment: Product news: FortiGate G series launch — New ASIC‑accelerated appliances positioned to secure AI workloads, reinforcing Fortinet’s product leadership in a growing AI/security spending cycle. Fortinet Expands FortiGate G Series
• Neutral Sentiment: Insider sales disclosed — CEO and VP sold shares under pre‑arranged 10b5‑1 plans to cover taxes on vested awards; routine but can be perceived as liquidity. SEC Form 4 — Insider Sales
• Neutral Sentiment: Analyst mix — Several firms maintain neutral/hold ratings and divergent price targets, so further upside may depend on sustained execution vs. raised guidance. MarketBeat Analyst Notes
• Negative Sentiment: Institutional trimming and downgrade risk — Some large holders have trimmed positions and there remain sell/hold ratings that could limit momentum if upcoming quarters slow. QuiverQuant — Positioning & Institutional Moves

Fortinet Price Performance

NASDAQ:FTNT opened at $89.95 on Thursday. The business’s 50-day simple moving average is $82.32 and its two-hundred day simple moving average is $81.81. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $108.77. The stock has a market cap of $65.85 billion, a PE ratio of 37.02, a P/E/G ratio of 3.08 and a beta of 0.92. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.20. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the business posted $0.58 earnings per share. The firm’s revenue was up 20.1% on a year-over-year basis. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, analysts forecast that Fortinet, Inc. will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling at Fortinet

In related news, CEO Ken Xie sold 5,355 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $88.90, for a total transaction of $476,059.50. Following the completion of the transaction, the chief executive officer owned 52,978,004 shares in the company, valued at approximately $4,709,744,555.60. This represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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, VP Michael Xie sold 2,478 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $88.89, for a total transaction of $220,269.42. Following the transaction, the vice president directly owned 9,927,517 shares of the company’s stock, valued at $882,456,986.13. The trade was a 0.02% 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. 17.20% of the stock is currently owned by insiders.

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.