Fortinet, Inc. $FTNT Shares Sold by PAX Financial Group LLC

PAX Financial Group LLC decreased its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 22.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 20,171 shares of the software maker’s stock after selling 5,836 shares during the period. PAX Financial Group LLC’s holdings in Fortinet were worth $1,602,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinnacle Holdings LLC acquired a new position in Fortinet during the third quarter valued at approximately $25,000. Ameriflex Group Inc. acquired a new position in Fortinet during the third quarter valued at approximately $25,000. Wexford Capital LP acquired a new position in Fortinet during the third quarter valued at approximately $25,000. Palisade Asset Management LLC acquired a new position in Fortinet during the third quarter valued at approximately $28,000. Finally, Ares Financial Consulting LLC acquired a new position in Fortinet during the fourth quarter valued at approximately $29,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Fortinet Stock Up 3.5%

Shares of NASDAQ:FTNT opened at $121.86 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $86.71 and a 200 day simple moving average of $83.10. The firm has a market cap of $89.28 billion, a PE ratio of 47.05, a price-to-earnings-growth ratio of 3.38 and a beta of 0.92. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $121.97.

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, topping analysts’ consensus estimates of $0.62 by $0.20. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. On average, equities research analysts anticipate that Fortinet, Inc. will post 2.65 EPS for the current fiscal year.

Insider Buying and Selling at Fortinet

In other Fortinet news, CEO Ken Xie sold 5,355 shares of the business’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 sale, the chief executive officer owned 52,978,004 shares in the company, valued at $4,709,744,555.60. The trade was a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 business’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 sale, the vice president owned 9,927,517 shares of the company’s stock, valued at approximately $882,456,986.13. The trade was a 0.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 owned by insiders.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet is getting a boost from the market’s reaction to its strong first-quarter results, with articles highlighting that the company beat expectations and is benefiting from AI-related cybersecurity demand. Fortinet Stock’s Momentum Score Skyrockets As AI-Driven Q1 Beat Ignites Rally
• Positive Sentiment: NVIDIA announced a secure enterprise AI initiative with Fortinet, including the FortiAIGate security gateway, which could strengthen Fortinet’s positioning in AI security and support the stock. NVIDIA Targets Secure Enterprise AI Scale With Fortinet And Red Hat Partnerships
• Positive Sentiment: Broader market strength in technology shares and resilient economic data also helped sentiment toward Fortinet and other software/cybersecurity names. Stocks Settle Higher on Strong Tech Earnings and Economic Resilience
• Neutral Sentiment: Fortinet’s COO John Whittle appeared in a fireside chat, but the event appears informational rather than a major new business catalyst. REPLAY: Fireside Chat with Fortinet COO John Whittle
• Neutral Sentiment: Recent commentary has also focused on Fortinet’s long-term stock performance and valuation, reinforcing investor interest but not adding a fresh fundamental trigger. $100 Invested In Fortinet 10 Years Ago Would Be Worth This Much Today

Analysts Set New Price Targets

FTNT has been the topic of a number of recent research reports. Piper Sandler lifted their price target on shares of Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Mizuho lifted their price target on shares of Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a research report on Thursday, May 7th. Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 price target on shares of Fortinet in a research report on Thursday, May 7th. TD Cowen reaffirmed a “buy” rating and set a $125.00 price target (up from $100.00) on shares of Fortinet in a research report on Thursday, May 7th. Finally, Scotiabank lifted their price objective on shares of Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-three have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $100.45.

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.