RPG Investment Advisory LLC Has $17.64 Million Stock Position in Fortinet, Inc. $FTNT

RPG Investment Advisory LLC boosted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 222,171 shares of the software maker’s stock after acquiring an additional 6,539 shares during the quarter. Fortinet makes up approximately 2.0% of RPG Investment Advisory LLC’s holdings, making the stock its 18th biggest holding. RPG Investment Advisory LLC’s holdings in Fortinet were worth $17,643,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Fortinet by 4.0% during the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after purchasing an additional 2,894,355 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Fortinet by 62.1% in the third quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker’s stock valued at $467,868,000 after purchasing an additional 2,132,109 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Fortinet by 30.9% in the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock valued at $636,962,000 after purchasing an additional 1,790,033 shares in the last quarter. Invesco Ltd. raised its position in Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after purchasing an additional 1,568,337 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Fortinet by 23.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,160,348 shares of the software maker’s stock worth $430,082,000 after purchasing an additional 969,899 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $82.53 on Friday. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $109.33. The firm has a market capitalization of $61.07 billion, a P/E ratio of 33.96, a P/E/G ratio of 2.85 and a beta of 1.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09. The company’s 50 day simple moving average is $81.83 and its 200 day simple moving average is $81.95.

Fortinet (NASDAQ:FTNT) last released its earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 EPS. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. On average, analysts predict that Fortinet, Inc. will post 2.09 EPS for the current year.

Wall Street Analysts Forecast Growth

FTNT has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated a “neutral” rating on shares of Fortinet in a research report on Thursday, March 12th. Freedom Capital downgraded Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Jefferies Financial Group set a $90.00 price target on Fortinet in a research note on Friday, February 6th. Stifel Nicolaus set a $85.00 price target on Fortinet in a report on Wednesday, March 11th. Finally, UBS Group reiterated a “neutral” rating and issued a $90.00 price objective on shares of Fortinet in a research report on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Fortinet has an average rating of “Hold” and an average price target of $87.84.

Insiders Place Their Bets

In related news, CEO Ken Xie sold 175,737 shares of Fortinet stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the completion of the sale, the chief executive officer directly owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael Xie sold 343,106 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $27,935,690.52. Following the completion of the sale, the vice president owned 10,210,282 shares of the company’s stock, valued at $831,321,160.44. This represents a 3.25% decrease in their position. The SEC filing for this sale provides additional information. 17.20% of the stock is 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.