Fortinet, Inc. $FTNT Shares Acquired by Maia Wealth LLC

Maia Wealth LLC lifted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 23.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,118 shares of the software maker’s stock after purchasing an additional 4,427 shares during the period. Maia Wealth LLC’s holdings in Fortinet were worth $1,948,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pinnacle Holdings LLC acquired a new position in Fortinet in the third quarter valued at approximately $25,000. Ameriflex Group Inc. acquired a new position in Fortinet in the third quarter valued at approximately $25,000. Wexford Capital LP acquired a new position in Fortinet in the third quarter valued at approximately $25,000. Elyxium Wealth LLC acquired a new position in Fortinet in the fourth quarter valued at approximately $27,000. Finally, Palisade Asset Management LLC acquired a new position in Fortinet in the third quarter valued at approximately $28,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Ken Xie sold 160,632 shares of the 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 sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the sale, the vice president owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. This trade represents a 0.04% 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. Over the last 90 days, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on FTNT shares. Stephens set a $115.00 price objective on Fortinet and gave the company an “equal weight” rating in a report on Thursday, May 7th. Truist Financial set a $120.00 price objective on Fortinet and gave the company a “buy” rating in a report on Thursday, May 7th. Robert W. Baird set a $115.00 price objective on Fortinet in a report on Thursday, May 7th. Piper Sandler upped their price objective on Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Bank of America boosted their target price on Fortinet from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-five have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $107.77.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Negative Sentiment: Researchers said a sweeping hack campaign compromised Fortinet devices at prominent organizations, adding fresh scrutiny to the company’s security posture. Researcher report on hack campaign
• Negative Sentiment: Cybercriminals allegedly compromised tens of thousands of Fortinet firewalls and VPNs used by major companies, reinforcing fears of active exploitation and creating near-term overhang on the stock. TechCrunch hack report
• Negative Sentiment: Market commentary said FTNT is sliding as investors react to renewed vulnerability headlines and profit-taking after a recent run-up, suggesting some traders are locking in gains. Quiver Quant analysis

Fortinet Stock Down 2.0%

Fortinet stock opened at $144.14 on Thursday. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $150.07. The stock’s fifty day simple moving average is $113.67 and its 200-day simple moving average is $92.56. 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 firm has a market capitalization of $105.60 billion, a P/E ratio of 55.65, a P/E/G ratio of 4.02 and a beta of 1.11.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the company earned $0.58 earnings per share. The company’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, equities analysts expect that Fortinet, Inc. will post 2.78 earnings per share 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.