Crossmark Global Holdings Inc. Has $13.79 Million Stock Position in Fortinet, Inc. $FTNT

Crossmark Global Holdings Inc. raised its stake in Fortinet, Inc. (NASDAQ:FTNT) by 27.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,688 shares of the software maker’s stock after buying an additional 37,507 shares during the period. Crossmark Global Holdings Inc.’s holdings in Fortinet were worth $13,793,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FTNT. Steigerwald Gordon & Koch Inc. acquired a new stake in Fortinet in the third quarter valued at approximately $25,000. Pinnacle Holdings LLC acquired a new position in shares of Fortinet during the third quarter worth $25,000. Ameriflex Group Inc. acquired a new position in shares of Fortinet during the third quarter worth $25,000. Wexford Capital LP acquired a new position in shares of Fortinet during the third quarter worth $25,000. Finally, Palisade Asset Management LLC acquired a new position in shares of Fortinet during the third quarter worth $28,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Buying and Selling at Fortinet

In related news, CEO Ken Xie sold 5,355 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $88.90, for a total value of $476,059.50. Following the transaction, the chief executive officer owned 52,978,004 shares in the company, valued at $4,709,744,555.60. The trade was a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. Also, VP Michael Xie sold 2,478 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $88.89, for a total transaction of $220,269.42. Following the completion of the transaction, the vice president owned 9,927,517 shares in the company, valued at approximately $882,456,986.13. The trade was a 0.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. 17.20% of the stock is owned by insiders.

Fortinet Price Performance

FTNT stock opened at $114.07 on Friday. The firm has a market cap of $83.51 billion, a price-to-earnings ratio of 44.04, a PEG ratio of 3.69 and a beta of 0.92. The company has a quick ratio of 1.09, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $114.66. The company’s fifty day simple moving average is $82.97 and its 200 day simple moving average is $81.98.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.20. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. Fortinet’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter 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. On average, analysts expect that Fortinet, Inc. will post 2.64 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FTNT shares. Oppenheimer reiterated a “market perform” rating on shares of Fortinet in a report on Friday, January 23rd. Wells Fargo & Company reiterated an “underweight” rating and set a $70.00 price target (up from $64.00) on shares of Fortinet in a report on Thursday. Jefferies Financial Group set a $90.00 price target on shares of Fortinet in a report on Friday, February 6th. Freedom Capital lowered shares of Fortinet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $87.00 price target on shares of Fortinet in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Fortinet has a consensus rating of “Hold” and a consensus target price of $100.45.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet delivered a strong Q1 beat, with revenue up 20% year over year, EPS ahead of estimates, billings up sharply, and full-year guidance raised, signaling stronger demand across cybersecurity and AI-related security products.
• Positive Sentiment: Several analysts turned more constructive, including BTIG’s upgrade to Buy, Rosenblatt’s Buy rating with a higher target, and Citi/Susquehanna/UBS/Piper all raising price targets to around the current share price or above, supporting bullish sentiment.
• Positive Sentiment: Commentary around Fortinet’s gains suggests the results helped dispel “AI disruption” fears and highlighted growing demand tied to a more complex threat environment, which is improving investor confidence in the company’s growth runway.
• Neutral Sentiment: Citigroup and Susquehanna raised their price target to $115 while maintaining Neutral ratings, implying limited upside from current levels even after the rally.
• Neutral Sentiment: RBC Capital and Needham kept Hold-type views, indicating that not all analysts see the valuation as compelling despite the improved fundamentals.
• Negative Sentiment: There were also insider sales by the CEO and a VP, which may temper enthusiasm somewhat, though these trades appear small relative to the stock’s recent move.

Fortinet 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.