one8zero8 LLC Buys New Stake in Fortinet, Inc. $FTNT

one8zero8 LLC purchased a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 187,993 shares of the software maker’s stock, valued at approximately $28,879,000. Fortinet makes up about 5.7% of one8zero8 LLC’s holdings, making the stock its 2nd largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dunhill Financial LLC acquired a new position in shares of Fortinet in the second quarter worth about $25,000. Elevation Wealth Partners LLC boosted its stake in shares of Fortinet by 53.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after acquiring an additional 75 shares in the last quarter. Wexford Capital LP acquired a new stake in shares of Fortinet during the 3rd quarter valued at about $25,000. Physician Wealth Advisors Inc. increased its stake in shares of Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after purchasing an additional 245 shares in the last quarter. Finally, Palisade Asset Management LLC purchased a new position in shares of Fortinet in the 3rd quarter valued at about $28,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FTNT shares. BMO Capital Markets increased their price target on Fortinet from $170.00 to $185.00 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Rosenblatt Securities boosted their price objective on Fortinet from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Truist Financial set a $183.00 target price on Fortinet and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Robert W. Baird set a $165.00 target price on Fortinet in a research report on Thursday, July 30th. Finally, Susquehanna increased their target price on Fortinet from $115.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $150.91.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 161,482 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Xie sold 3,121 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.63, for a total transaction of $507,568.23. Following the sale, the vice president directly owned 9,918,360 shares of the company’s stock, valued at approximately $1,613,022,886.80. This represents a 0.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 329,142 shares of company stock valued at $50,731,178 over the last quarter. Company insiders own 17.60% of the company’s stock.

Fortinet Stock Performance

NASDAQ FTNT opened at $152.85 on Thursday. The company has a market cap of $112.15 billion, a PE ratio of 53.82, a price-to-earnings-growth ratio of 3.00 and a beta of 1.07. The stock’s 50 day simple moving average is $155.98 and its 200-day simple moving average is $116.87. Fortinet, Inc. has a 1-year low of $73.55 and a 1-year high of $172.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating the consensus estimate of $0.75 by $0.15. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The firm’s revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, equities research analysts anticipate that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

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.