Kovitz Investment Group Partners LLC Raises Stock Position in Fortinet, Inc. $FTNT

Kovitz Investment Group Partners LLC grew its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 134.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,964 shares of the software maker’s stock after acquiring an additional 28,085 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Fortinet were worth $3,888,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of FTNT. Pinnacle Holdings LLC purchased a new position in Fortinet during the 3rd quarter worth $25,000. Ameriflex Group Inc. purchased a new stake in shares of Fortinet in the 3rd quarter worth $25,000. Wexford Capital LP purchased a new stake in shares of Fortinet in the 3rd quarter worth $25,000. Elyxium Wealth LLC bought a new position in shares of Fortinet during the 4th quarter worth $27,000. Finally, Palisade Asset Management LLC bought a new position in shares of Fortinet during the 3rd quarter worth $28,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FTNT. Truist Financial set a $120.00 price objective on Fortinet and gave the company a “buy” rating in a report on Thursday, May 7th. Bank of America raised their target price on shares of Fortinet from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Robert W. Baird set a $115.00 price target on shares of Fortinet in a report on Thursday, May 7th. Rosenblatt Securities upped their price target on shares of Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, BMO Capital Markets increased their price objective on shares of Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $107.77.

Fortinet Price Performance

Shares of FTNT stock opened at $144.73 on Friday. The stock’s fifty day moving average price is $116.11 and its 200 day moving average price is $93.37. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $150.07. The company has a market cap of $106.04 billion, a price-to-earnings ratio of 55.88, a price-to-earnings-growth ratio of 3.96 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 (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm’s revenue was up 20.1% compared to the same quarter last year. During the same period 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, research analysts expect that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal year.

Insider Activity

In other Fortinet news, COO John Whittle sold 146,015 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. 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 90 days. 17.60% of the stock is currently owned by corporate insiders.

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.