Mach 1 Financial Group LLC Makes New $534,000 Investment in Fortinet, Inc. $FTNT

Mach 1 Financial Group LLC acquired a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,727 shares of the software maker’s stock, valued at approximately $534,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Leonteq Securities AG bought a new position in Fortinet in the 4th quarter valued at about $10,422,000. ABN Amro Investment Solutions increased its holdings in Fortinet by 378.1% in the 4th quarter. ABN Amro Investment Solutions now owns 32,624 shares of the software maker’s stock valued at $2,591,000 after buying an additional 25,800 shares during the period. Rathbones Group PLC increased its holdings in Fortinet by 79.9% in the 4th quarter. Rathbones Group PLC now owns 4,589 shares of the software maker’s stock valued at $364,000 after buying an additional 2,038 shares during the period. IFP Advisors Inc increased its holdings in Fortinet by 5.4% in the 4th quarter. IFP Advisors Inc now owns 77,601 shares of the software maker’s stock valued at $6,162,000 after buying an additional 3,998 shares during the period. Finally, Banque Cantonale Vaudoise increased its holdings in Fortinet by 86.7% in the 4th quarter. Banque Cantonale Vaudoise now owns 94,615 shares of the software maker’s stock valued at $7,513,000 after buying an additional 43,944 shares during the period. Institutional investors own 83.71% of the company’s stock.

Insiders Place Their Bets

In related news, VP Michael Xie sold 2,478 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $88.89, for a total transaction of $220,269.42. Following the sale, the vice president owned 9,927,517 shares in the company, valued at $882,456,986.13. The trade was a 0.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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, CEO Ken Xie sold 5,355 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $88.90, for a total transaction of $476,059.50. Following the sale, the chief executive officer directly owned 52,978,004 shares in the company, valued at $4,709,744,555.60. The trade was a 0.01% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 17.60% of the company’s stock.

Fortinet Trading Down 0.4%

Shares of Fortinet stock opened at $129.46 on Friday. The firm has a market capitalization of $94.85 billion, a PE ratio of 49.98, a price-to-earnings-growth ratio of 3.58 and a beta of 0.92. 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’s 50 day moving average is $91.06 and its 200 day moving average is $84.58. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $130.36.

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. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm’s revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Equities research analysts forecast that Fortinet, Inc. will post 2.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FTNT shares. Evercore set a $80.00 target price on shares of Fortinet in a report on Friday, February 6th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price target on shares of Fortinet in a research note on Tuesday, April 21st. Arete Research set a $104.00 price target on Fortinet and gave the company a “buy” rating in a research note on Monday, April 27th. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price target on shares of Fortinet in a research note on Thursday, May 7th. Finally, Piper Sandler lifted their price target on Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $101.83.

Fortinet 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.