State of Wyoming Takes $643,000 Position in Fortinet, Inc. $FTNT

State of Wyoming bought a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,187 shares of the software maker’s stock, valued at approximately $643,000.

Several other institutional investors have also recently added to or reduced their stakes in FTNT. Elevation Wealth Partners LLC boosted its holdings in Fortinet by 53.6% in the second quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock valued at $33,000 after purchasing an additional 75 shares in the last quarter. Florida Financial Advisors LLC raised its holdings in Fortinet by 3.0% during the first quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock worth $309,000 after purchasing an additional 109 shares in the last quarter. Optimist Retirement Group LLC lifted its position in shares of Fortinet by 2.5% during the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock worth $398,000 after buying an additional 122 shares during the last quarter. PDS Planning Inc lifted 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 worth $326,000 after buying an additional 123 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its holdings 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 buying an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Activity at Fortinet

In other news, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $8,616,486,029.52. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 475,157 shares of company stock worth $69,480,964 in the last quarter. Company insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Compass Point set a $100.00 target price on shares of Fortinet in a research report on Monday, May 4th. Piper Sandler restated a “neutral” rating and issued a $175.00 price objective (up from $110.00) on shares of Fortinet in a research note on Thursday, July 30th. Scotiabank reaffirmed a “sector perform” rating and set a $163.00 price objective on shares of Fortinet in a report on Thursday, July 30th. Evercore set a $165.00 target price on Fortinet in a research report on Thursday, July 30th. 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, eleven have issued a Buy rating, eighteen have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $150.91.

Fortinet Price Performance

FTNT stock opened at $160.01 on Monday. The company has a fifty day moving average price of $155.05 and a 200 day moving average price of $115.31. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $172.09. The company has a market cap of $117.40 billion, a price-to-earnings ratio of 56.34, a price-to-earnings-growth ratio of 3.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.15. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. Fortinet’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Sell-side analysts expect that Fortinet, Inc. will post 3.05 earnings per share for the current 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.