Fortinet, Inc. $FTNT Shares Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. increased its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 35.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,206 shares of the software maker’s stock after buying an additional 4,725 shares during the period. Meeder Advisory Services Inc.’s holdings in Fortinet were worth $1,488,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Optimist Retirement Group LLC raised its position in shares of Fortinet by 2.5% in the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock worth $398,000 after acquiring an additional 122 shares during the period. PDS Planning Inc grew its position in shares of Fortinet by 3.1% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock valued at $326,000 after acquiring an additional 123 shares during the period. GW&K Investment Management LLC increased its stake in shares of Fortinet by 31.4% in the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock valued at $41,000 after purchasing an additional 123 shares in the last quarter. Delta Investment Management LLC increased its stake in shares of Fortinet by 2.4% in the 4th quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock valued at $417,000 after purchasing an additional 125 shares in the last quarter. Finally, Personal CFO Solutions LLC raised its holdings in Fortinet by 5.0% in the 1st quarter. Personal CFO Solutions LLC now owns 2,670 shares of the software maker’s stock worth $218,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Robert W. Baird set a $115.00 price target on Fortinet in a research report on Thursday, May 7th. Morgan Stanley upgraded Fortinet from an “underweight” rating to an “outperform” rating in a research report on Tuesday. Wells Fargo & Company reaffirmed an “underweight” rating and set a $120.00 target price (up from $70.00) on shares of Fortinet in a research note on Monday. Stephens set a $115.00 target price on Fortinet and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Finally, Bank of America boosted their price target on shares of Fortinet from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-three have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $115.58.

Insider Activity

In related news, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the company’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 sale, the chief operating officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 318,387 shares of company stock worth $43,403,063 over the last three months. Insiders own 17.60% of the company’s stock.

Fortinet Stock Performance

NASDAQ FTNT opened at $160.36 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. The stock’s 50 day simple moving average is $145.20 and its 200-day simple moving average is $104.52. The company has a market cap of $117.49 billion, a PE ratio of 61.92, a price-to-earnings-growth ratio of 4.39 and a beta of 1.09. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $170.35.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the business earned $0.58 earnings per share. The firm’s revenue for the quarter 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. As a group, equities research analysts anticipate that Fortinet, Inc. will post 2.8 EPS for the current fiscal year.

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.