Oxbow Advisors LLC Acquires New Position in Fortinet, Inc. $FTNT

Oxbow Advisors LLC acquired a new stake in Fortinet, Inc. (NASDAQ:FTNT) during the 1st quarter, HoldingsChannel reports. The firm acquired 40,178 shares of the software maker’s stock, valued at approximately $3,283,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Optimist Retirement Group LLC boosted its stake in shares of Fortinet by 2.5% during the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock valued at $398,000 after buying an additional 122 shares during the period. PDS Planning Inc increased its stake in shares of Fortinet by 3.1% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock worth $326,000 after acquiring an additional 123 shares during the last quarter. GW&K Investment Management LLC increased its stake in shares of Fortinet by 31.4% in the fourth quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock worth $41,000 after acquiring an additional 123 shares during the last quarter. Delta Investment Management LLC raised its holdings in shares of Fortinet by 2.4% during the fourth quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock worth $417,000 after acquiring an additional 125 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its holdings in shares of Fortinet by 2.0% during the fourth quarter. Catalyst Capital Advisors LLC now owns 6,459 shares of the software maker’s stock worth $513,000 after acquiring an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insiders Place Their Bets

In other news, COO John Whittle sold 146,015 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the transaction, the chief operating officer owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the transaction, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. The trade was a 0.04% 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 sold 318,387 shares of company stock valued at $43,403,063 over the last quarter. Insiders own 17.60% of the company’s stock.

Fortinet Price Performance

FTNT stock opened at $156.25 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $159.80. The company has a fifty day simple moving average of $130.25 and a 200 day simple moving average of $98.18. The firm has a market cap of $114.48 billion, a PE ratio of 60.33, a PEG ratio of 4.28 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The firm had revenue of $1.85 billion during 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%. Fortinet’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the company 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. Sell-side analysts anticipate that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FTNT shares. Susquehanna lifted their price objective on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Zacks Research lowered Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. JPMorgan Chase & Co. raised their price target on Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, May 7th. Barclays set a $155.00 price target on Fortinet and gave the company an “equal weight” rating in a report on Friday, June 12th. Finally, BTIG Research boosted their price target on Fortinet from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, Fortinet currently has an average rating of “Hold” and an average target price of $107.58.

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.