Fortinet, Inc. $FTNT Shares Bought by Praxis Investment Management Inc.

Praxis Investment Management Inc. lifted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 37.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 23,153 shares of the software maker’s stock after buying an additional 6,319 shares during the quarter. Praxis Investment Management Inc.’s holdings in Fortinet were worth $1,892,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. grew its stake in shares of Fortinet by 21.4% in the 1st quarter. QRG Capital Management Inc. now owns 75,491 shares of the software maker’s stock valued at $6,169,000 after purchasing an additional 13,294 shares during the last quarter. Lafayette Investments Inc. raised its stake in shares of Fortinet by 6.9% during the first quarter. Lafayette Investments Inc. now owns 3,637 shares of the software maker’s stock worth $297,000 after purchasing an additional 236 shares during the last quarter. Oxbow Advisors LLC acquired a new stake in shares of Fortinet during the first quarter worth $3,283,000. HB Wealth Management LLC increased its stake in Fortinet by 38.9% in the 1st quarter. HB Wealth Management LLC now owns 27,906 shares of the software maker’s stock valued at $2,281,000 after buying an additional 7,815 shares during the period. Finally, Moran Wealth Management LLC lifted its stake in shares of Fortinet by 16.4% in the 1st quarter. Moran Wealth Management LLC now owns 130,886 shares of the software maker’s stock worth $10,696,000 after acquiring an additional 18,447 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Price Performance

Fortinet stock opened at $156.25 on Friday. The firm has a market capitalization of $114.48 billion, a PE ratio of 60.33, a P/E/G ratio of 4.28 and a beta of 1.09. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $159.80. The firm’s 50-day simple moving average is $130.25 and its 200 day simple moving average is $98.18. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the company posted $0.58 EPS. The company’s revenue was up 20.1% on a year-over-year basis. 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 research analysts predict that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FTNT has been the subject of a number of recent analyst reports. Mizuho raised their price objective on shares of Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a research report on Thursday, May 7th. UBS Group raised their price target on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Morgan Stanley restated an “underweight” rating and issued a $80.00 price target on shares of Fortinet in a research note on Thursday, May 7th. Truist Financial set a $120.00 price objective on Fortinet and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, DZ Bank downgraded Fortinet from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Fortinet presently has an average rating of “Hold” and a consensus price target of $107.58.

Insider Buying and Selling at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction dated 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 completion of the sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at $12,163,508.84. The trade was a 60.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is owned by insiders.

Fortinet Company 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.