Fortinet, Inc. $FTNT Position Boosted by Lido Advisors LLC

Lido Advisors LLC grew its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 13.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,050 shares of the software maker’s stock after purchasing an additional 21,528 shares during the period. Lido Advisors LLC’s holdings in Fortinet were worth $15,122,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Fortinet during the fourth quarter worth approximately $1,152,917,000. First Trust Advisors LP increased its stake in Fortinet by 45.5% in the 1st quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock valued at $940,284,000 after buying an additional 3,598,487 shares during the period. Van ECK Associates Corp lifted its position in Fortinet by 38.9% in the 4th quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock worth $613,915,000 after buying an additional 2,166,396 shares in the last quarter. AQR Capital Management LLC lifted its position in Fortinet by 76.2% in the 4th quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock worth $326,297,000 after buying an additional 1,777,115 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Fortinet by 17.0% during the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after buying an additional 1,568,337 shares during the period. 83.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FTNT. Piper Sandler upped their price target on shares of Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Scotiabank lifted their price objective on Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. Robert W. Baird set a $120.00 target price on Fortinet in a research note on Tuesday. Wall Street Zen upgraded Fortinet from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, Zacks Research raised Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-four have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $123.61.

Insider Transactions at Fortinet

In other news, COO John Whittle sold 146,015 shares of the business’s stock in a transaction on 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 sale, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is owned by insiders.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $151.54 on Friday. The business’s 50-day simple moving average is $147.43 and its 200-day simple moving average is $106.13. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $170.35. The firm has a market cap of $111.03 billion, a price-to-earnings ratio of 58.51, a P/E/G ratio of 4.22 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.20. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 EPS. 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 expect that Fortinet, Inc. will post 2.8 earnings per share 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.