Patriot Financial Group Insurance Agency LLC Buys 20,932 Shares of Fortinet, Inc. $FTNT

Patriot Financial Group Insurance Agency LLC increased its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 103.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,156 shares of the software maker’s stock after acquiring an additional 20,932 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Fortinet were worth $3,363,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pinnacle Holdings LLC acquired a new position in shares of Fortinet during the 3rd quarter worth approximately $25,000. Ameriflex Group Inc. bought a new stake in shares of Fortinet during the 3rd quarter worth approximately $25,000. Wexford Capital LP acquired a new stake in shares of Fortinet in the 3rd quarter valued at approximately $25,000. Palisade Asset Management LLC acquired a new stake in shares of Fortinet in the 3rd quarter valued at approximately $28,000. Finally, Elyxium Wealth LLC bought a new position in shares of Fortinet in the fourth quarter valued at $27,000. Institutional investors own 83.71% of the company’s stock.

Insider Activity

In related news, CEO Ken Xie sold 160,632 shares of Fortinet 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 of the company’s stock, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction dated 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 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. Insiders have sold 318,387 shares of company stock valued at $43,403,063 over the last ninety days. 17.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FTNT. Citigroup boosted their target price on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Bank of America increased their price target on shares of Fortinet from $130.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 8th. BMO Capital Markets lifted their price objective on shares of Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. boosted their price objective on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, May 7th. Finally, Mizuho upped their target price on shares of Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-five have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and a consensus target price of $107.77.

Fortinet Price Performance

FTNT stock opened at $151.35 on Monday. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $152.77. The business’s 50 day simple moving average is $123.02 and its 200 day simple moving average is $95.70. 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 $110.89 billion, a PE ratio of 58.44, a PEG ratio of 4.14 and a beta of 1.11.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm posted $0.58 EPS. The company’s quarterly 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, research analysts anticipate that Fortinet, Inc. will post 2.78 EPS for the current year.

Fortinet Company 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.