Pacer Advisors Inc. Boosts Position in Fortinet, Inc. $FTNT

Pacer Advisors Inc. boosted its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 31.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 339,482 shares of the software maker’s stock after purchasing an additional 81,025 shares during the quarter. Pacer Advisors Inc.’s holdings in Fortinet were worth $26,958,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Pinnacle Holdings LLC acquired a new stake in Fortinet during the third quarter worth approximately $25,000. Ameriflex Group Inc. acquired a new position in shares of Fortinet in the 3rd quarter valued at $25,000. Wexford Capital LP acquired a new position in shares of Fortinet in the 3rd quarter valued at $25,000. Elyxium Wealth LLC purchased a new position in shares of Fortinet in the 4th quarter valued at $27,000. Finally, Palisade Asset Management LLC purchased a new position in shares of Fortinet in the 3rd quarter valued at $28,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of the stock in a transaction on Tuesday, June 2nd. The stock was 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 directly owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 on Wednesday, June 3rd. The shares were 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 owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is currently owned by insiders.

Fortinet Stock Performance

NASDAQ FTNT opened at $144.73 on Friday. The firm’s fifty day moving average is $116.11 and its two-hundred day moving average is $93.37. Fortinet, Inc. has a one year low of $70.12 and a one year high of $150.07. 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 $106.04 billion, a PE ratio of 55.88, a P/E/G ratio of 3.96 and a beta of 1.11.

Fortinet (NASDAQ:FTNT) last released 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 firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business’s revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the company posted $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. Analysts expect that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FTNT shares. Scotiabank boosted their price target on shares of Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. BTIG Research raised their price objective on Fortinet from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Weiss Ratings upgraded Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. Piper Sandler boosted their target price on Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Barclays set a $155.00 target price on Fortinet and gave the company an “equal weight” rating in a research report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-five have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $107.77.

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.