USS Investment Management Ltd Increases Stock Position in Fortinet, Inc. $FTNT

USS Investment Management Ltd grew its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 106,109 shares of the software maker’s stock after acquiring an additional 4,776 shares during the quarter. USS Investment Management Ltd’s holdings in Fortinet were worth $8,425,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnacle Holdings LLC purchased a new position in shares of Fortinet in the third quarter worth approximately $25,000. Ameriflex Group Inc. purchased a new position in shares of Fortinet in the third quarter worth approximately $25,000. Wexford Capital LP purchased a new position in shares of Fortinet in the third quarter worth approximately $25,000. Elyxium Wealth LLC purchased a new position in shares of Fortinet in the fourth quarter worth approximately $27,000. Finally, Palisade Asset Management LLC purchased a new position in shares of Fortinet in the third quarter worth approximately $28,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Activity

In other news, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the sale, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction that occurred on 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 sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. The trade was a 0.30% 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 a total of 318,387 shares of company stock worth $43,403,063 over the last quarter. Insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Compass Point set a $100.00 price objective on shares of Fortinet in a report on Monday, May 4th. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 price objective on shares of Fortinet in a report on Tuesday, April 21st. Arete Research set a $104.00 price objective on shares of Fortinet and gave the stock a “buy” rating in a report on Monday, April 27th. BTIG Research raised their price objective on shares of Fortinet from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Finally, Robert W. Baird set a $115.00 price objective on shares of Fortinet in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $107.77.

Fortinet Trading Up 2.2%

Fortinet stock opened at $149.49 on Tuesday. The stock has a market cap of $109.52 billion, a P/E ratio of 57.72, a PEG ratio of 4.01 and a beta of 1.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $150.07. The firm’s 50 day moving average price is $111.14 and its 200-day moving average price is $91.64.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data 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 firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter last year, the business posted $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. On average, equities analysts predict that Fortinet, Inc. will post 2.78 earnings per share 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.