Sunbelt Securities Inc. Has $1.20 Million Stock Position in Fortinet, Inc. $FTNT

Sunbelt Securities Inc. reduced its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 28.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 15,088 shares of the software maker’s stock after selling 6,114 shares during the period. Sunbelt Securities Inc.’s holdings in Fortinet were worth $1,198,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FTNT. Pinnacle Holdings LLC bought a new stake in Fortinet during the third quarter worth $25,000. Ameriflex Group Inc. bought a new position in Fortinet during the 3rd quarter valued at $25,000. Wexford Capital LP bought a new position in Fortinet during the 3rd quarter valued at $25,000. Elyxium Wealth LLC purchased a new position in Fortinet during the 4th quarter worth $27,000. Finally, Palisade Asset Management LLC bought a new stake in shares of Fortinet in the 3rd quarter worth $28,000. Institutional investors own 83.71% of the company’s stock.

Fortinet Stock Performance

Shares of Fortinet stock opened at $144.73 on Friday. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $150.07. The stock’s 50-day simple moving average is $116.11 and its 200 day simple moving average is $93.37. The stock has a market capitalization of $106.04 billion, a P/E ratio of 55.88, a P/E/G ratio of 3.96 and a beta of 1.11. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.62 by $0.20. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same period in the prior 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. As a group, research analysts anticipate that Fortinet, Inc. will post 2.78 EPS for the current year.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total value of $23,384,806.56. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the transaction, the chief operating officer owned 94,724 shares of the company’s stock, valued at $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price objective on shares of Fortinet in a research note on Tuesday, April 21st. Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 target price on shares of Fortinet in a report on Thursday, May 7th. Mizuho increased their price target on Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a research report on Thursday, May 7th. Rosenblatt Securities lifted their price target on Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company restated an “underweight” rating and issued a $70.00 price objective (up from $64.00) on shares of Fortinet in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Fortinet currently 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.