Tandem Investment Advisors Inc. Sells 5,875 Shares of Fortinet, Inc. $FTNT

Tandem Investment Advisors Inc. reduced its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 13.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,368 shares of the software maker’s stock after selling 5,875 shares during the period. Tandem Investment Advisors Inc.’s holdings in Fortinet were worth $3,217,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Expressive Wealth LLC acquired a new stake in Fortinet in the 4th quarter worth about $646,000. Trilogy Capital Inc. grew its position in shares of Fortinet by 46.8% during the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock worth $3,506,000 after purchasing an additional 14,076 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of Fortinet during the 4th quarter worth approximately $10,422,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Fortinet during the fourth quarter worth approximately $14,638,000. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Fortinet by 156.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock worth $31,009,000 after purchasing an additional 238,299 shares during the period. 83.71% of the stock is currently owned by institutional investors.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: TD SYNNEX was named an approved global distributor for Fortinet, expanding Fortinet’s channel reach and potentially helping sales growth. Fortinet also unveiled planned FortiEndpoint upgrades featuring AI governance, native data loss prevention, and FortiAI-assisted operations, which could strengthen its competitive position in enterprise security. Should Fortinet’s New TD SYNNEX Partnership and AI Endpoint Upgrades Require Action From Fortinet (FTNT) Investors?
• Positive Sentiment: Analysts and market commentary continue to frame Fortinet as a beneficiary of rising agentic AI adoption, which is boosting demand for AI security, identity protection, and threat detection across the cybersecurity sector. 3 Cybersecurity Stocks to Buy Amid Rising Adoption of Agentic AI
• Positive Sentiment: Coverage ahead of earnings points to expectations for double-digit bottom-line growth, suggesting investors are looking for another solid quarter from Fortinet. What to Expect From Fortinet’s Q2 2026 Earnings Report
• Neutral Sentiment: Fortinet remains a closely watched cybersecurity name as investors position for its Q2 2026 results, but the immediate news flow is mostly about expectations rather than a confirmed earnings surprise. What to Expect From Fortinet’s Q2 2026 Earnings Report
• Neutral Sentiment: Brokerage sentiment is mixed, with one update showing a consensus “Hold” rating even as Wall Street Zen upgraded the stock to “Buy,” indicating analysts are not fully aligned on near-term upside. Fortinet, Inc. (NASDAQ:FTNT) Receives Consensus Recommendation of “Hold” from Brokerages Fortinet (NASDAQ:FTNT) Upgraded by Wall Street Zen to “Buy” Rating
• Negative Sentiment: MarketWatch noted that Fortinet underperformed peers on Thursday, which may reflect some profit-taking or caution ahead of earnings despite the broader positive theme. Fortinet Inc. stock underperforms Thursday when compared to competitors

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Mizuho set a $125.00 price target on Fortinet and gave the company an “underperform” rating in a research note on Wednesday. Wells Fargo & Company restated an “underweight” rating and set a $70.00 price objective (up from $64.00) on shares of Fortinet in a research note on Thursday, May 7th. BMO Capital Markets lifted their price objective on Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Morgan Stanley reiterated an “underweight” rating and set a $80.00 target price on shares of Fortinet in a research report on Thursday, May 7th. Finally, Zacks Research raised Fortinet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-three have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $113.97.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the transaction, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 318,387 shares of company stock valued at $43,403,063. Corporate insiders own 17.60% of the company’s stock.

Fortinet Stock Performance

Shares of NASDAQ:FTNT opened at $161.61 on Friday. The company’s 50 day simple moving average is $144.30 and its 200 day simple moving average is $103.80. The stock has a market capitalization of $118.40 billion, a price-to-earnings ratio of 62.40, a price-to-earnings-growth ratio of 4.39 and a beta of 1.09. 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 $170.35.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.62 by $0.20. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company’s revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the business earned $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. As a group, research analysts predict that Fortinet, Inc. will post 2.8 EPS 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.