Fortinet, Inc. $FTNT Shares Purchased by First Horizon Corp

First Horizon Corp boosted its position in Fortinet, Inc. (NASDAQ:FTNT) by 4.5% in the 1st quarter, HoldingsChannel reports. The firm owned 159,424 shares of the software maker’s stock after purchasing an additional 6,834 shares during the period. First Horizon Corp’s holdings in Fortinet were worth $13,028,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FTNT. Ameriflex Group Inc. acquired a new position in shares of Fortinet in the third quarter valued at approximately $25,000. Wexford Capital LP acquired a new stake in Fortinet in the 3rd quarter worth about $25,000. Physician Wealth Advisors Inc. increased its stake in shares of Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after acquiring an additional 245 shares during the last quarter. Elyxium Wealth LLC purchased a new position in shares of Fortinet during the 4th quarter worth about $27,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Fortinet in the third quarter worth approximately $28,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Fortinet Stock Performance

Fortinet stock opened at $163.73 on Friday. The firm has a market capitalization of $119.96 billion, a PE ratio of 63.22, a price-to-earnings-growth ratio of 4.26 and a beta of 1.09. Fortinet, Inc. has a one year low of $70.12 and a one year high of $164.01. The stock’s 50 day moving average price is $136.31 and its 200 day moving average price is $100.55. 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 announced its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm earned $0.58 earnings per share. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. 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, sell-side analysts expect that Fortinet, Inc. will post 2.8 EPS for the current fiscal year.

Insider Activity at Fortinet

In other Fortinet news, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction 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 directly owned 94,724 shares of the company’s stock, valued at $12,163,508.84. This trade represents a 60.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction dated Tuesday, June 2nd. The stock was 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 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 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. Corporate insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FTNT shares. Weiss Ratings raised shares of Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. JPMorgan Chase & Co. upped their price objective on Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. TD Cowen reaffirmed a “buy” rating and issued a $160.00 target price (up from $125.00) on shares of Fortinet in a research report on Monday, June 8th. Compass Point set a $100.00 target price on Fortinet in a report on Monday, May 4th. Finally, Robert W. Baird set a $115.00 price target on Fortinet in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have issued a Hold rating and five 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 price target of $107.58.

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.