Sei Investments Co. Acquires 164,517 Shares of Fortinet, Inc. $FTNT

Sei Investments Co. boosted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 61.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 433,321 shares of the software maker’s stock after buying an additional 164,517 shares during the quarter. Sei Investments Co.’s holdings in Fortinet were worth $35,412,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC raised its stake in Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after acquiring an additional 221 shares during the period. Bison Wealth LLC bought a new position in Fortinet during the fourth quarter worth $585,000. HUB Investment Partners LLC boosted its position in Fortinet by 29.1% during the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock worth $560,000 after purchasing an additional 1,193 shares during the period. Diversify Advisory Services LLC acquired a new position in shares of Fortinet in the second quarter valued at $1,136,000. Finally, Quantinno Capital Management LP raised its position in shares of Fortinet by 27.4% in the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock valued at $15,328,000 after purchasing an additional 31,202 shares during the period. Institutional investors own 83.71% of the company’s stock.

Fortinet Price Performance

NASDAQ:FTNT opened at $152.37 on Monday. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $170.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The firm’s 50-day simple moving average is $148.02 and its 200 day simple moving average is $106.65. The firm has a market cap of $111.63 billion, a price-to-earnings ratio of 58.83, a P/E/G ratio of 4.14 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the firm posted $0.58 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. 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, sell-side analysts predict that Fortinet, Inc. will post 2.8 earnings per share for the current year.

Insider Activity

In other Fortinet news, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the transaction, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total value of $23,384,806.56. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. This represents a 0.30% 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. Over the last ninety days, insiders sold 318,387 shares of company stock worth $43,403,063. Corporate insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

FTNT has been the subject of a number of research reports. Compass Point set a $100.00 target price on shares of Fortinet in a research note on Monday, May 4th. Wall Street Zen downgraded shares of Fortinet from a “buy” rating to a “hold” rating in a research report on Sunday. Scotiabank boosted their price objective on Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Rosenblatt Securities upped their target price on Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Stephens set a $115.00 target price on Fortinet and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-four have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $123.61.

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.