Fortinet, Inc. $FTNT Position Trimmed by PAX Financial Group LLC

PAX Financial Group LLC decreased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 22.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,171 shares of the software maker’s stock after selling 5,836 shares during the period. PAX Financial Group LLC’s holdings in Fortinet were worth $1,602,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in FTNT. Brighton Jones LLC boosted its holdings in shares of Fortinet by 2.2% during the fourth 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 acquired a new position in shares of Fortinet during the fourth quarter valued at $585,000. HUB Investment Partners LLC boosted its holdings in shares of Fortinet by 29.1% during the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after acquiring an additional 1,193 shares during the period. Diversify Advisory Services LLC acquired a new position in shares of Fortinet during the second quarter valued at $1,136,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of Fortinet by 27.4% during the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock valued at $15,328,000 after acquiring an additional 31,202 shares during the period. Institutional investors own 83.71% of the company’s stock.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet is getting a boost from the market’s reaction to its strong first-quarter results, with articles highlighting that the company beat expectations and is benefiting from AI-related cybersecurity demand. Fortinet Stock’s Momentum Score Skyrockets As AI-Driven Q1 Beat Ignites Rally
• Positive Sentiment: NVIDIA announced a secure enterprise AI initiative with Fortinet, including the FortiAIGate security gateway, which could strengthen Fortinet’s positioning in AI security and support the stock. NVIDIA Targets Secure Enterprise AI Scale With Fortinet And Red Hat Partnerships
• Positive Sentiment: Broader market strength in technology shares and resilient economic data also helped sentiment toward Fortinet and other software/cybersecurity names. Stocks Settle Higher on Strong Tech Earnings and Economic Resilience
• Neutral Sentiment: Fortinet’s COO John Whittle appeared in a fireside chat, but the event appears informational rather than a major new business catalyst. REPLAY: Fireside Chat with Fortinet COO John Whittle
• Neutral Sentiment: Recent commentary has also focused on Fortinet’s long-term stock performance and valuation, reinforcing investor interest but not adding a fresh fundamental trigger. $100 Invested In Fortinet 10 Years Ago Would Be Worth This Much Today

Fortinet Price Performance

Shares of Fortinet stock opened at $121.86 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $86.71 and its two-hundred day moving average price is $83.10. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $121.97. The stock has a market cap of $89.28 billion, a PE ratio of 47.05, a price-to-earnings-growth ratio of 3.38 and a beta of 0.92.

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 net margin of 27.49% and a return on equity of 160.08%. The firm had revenue of $1.85 billion for 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. Fortinet’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 anticipate that Fortinet, Inc. will post 2.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FTNT. Susquehanna boosted their price target on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Weiss Ratings raised shares of Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. JPMorgan Chase & Co. boosted their price target on shares of Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, May 7th. Oppenheimer reaffirmed a “market perform” rating on shares of Fortinet in a report on Friday, January 23rd. Finally, Stifel Nicolaus set a $85.00 price objective on shares of Fortinet in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-three have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Fortinet has a consensus rating of “Hold” and a consensus price target of $100.45.

Insider Activity

In other Fortinet news, CEO Ken Xie sold 5,355 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $88.90, for a total transaction of $476,059.50. Following the sale, the chief executive officer owned 52,978,004 shares in the company, valued at approximately $4,709,744,555.60. The trade was a 0.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 dated Monday, May 4th. The stock was sold at an average price of $88.89, for a total value of $220,269.42. Following the sale, 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. 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. 17.60% of the stock is currently owned by insiders.

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.