Fortinet, Inc. $FTNT Shares Acquired by Maia Wealth LLC

Maia Wealth LLC lifted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 23.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 23,118 shares of the software maker’s stock after buying an additional 4,427 shares during the quarter. Maia Wealth LLC’s holdings in Fortinet were worth $1,948,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Pinnacle Holdings LLC acquired a new stake in shares of Fortinet during the third quarter worth about $25,000. Ameriflex Group Inc. acquired a new stake in Fortinet in the third quarter valued at about $25,000. Wexford Capital LP acquired a new stake in Fortinet in the third quarter valued at about $25,000. Palisade Asset Management LLC acquired a new stake in Fortinet in the third quarter valued at about $28,000. Finally, Elyxium Wealth LLC acquired a new stake in Fortinet in the fourth quarter valued at about $27,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FTNT shares. Scotiabank raised their price objective on shares of Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. DZ Bank downgraded shares of Fortinet from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research report on Tuesday, May 19th. Susquehanna raised their price objective on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Stephens set a $115.00 price objective on shares of Fortinet and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Finally, Bank of America raised their price objective on shares of Fortinet from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-five have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $107.77.

Fortinet Trading Down 2.0%

Shares of Fortinet stock opened at $144.14 on Thursday. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $150.07. 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 stock has a market cap of $105.60 billion, a PE ratio of 55.65, a price-to-earnings-growth ratio of 4.02 and a beta of 1.11. The company has a 50-day moving average of $113.67 and a two-hundred day moving average of $92.56.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping 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 business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the company posted $0.58 EPS. The company’s revenue was up 20.1% on a year-over-year basis. 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, research analysts anticipate that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Insider Transactions at Fortinet

In other news, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the transaction, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at $12,163,508.84. This trade represents a 60.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael Xie sold 3,907 shares of Fortinet 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 directly owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. The trade was a 0.04% 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. Insiders sold a total of 318,387 shares of company stock valued at $43,403,063 in the last ninety days. Corporate insiders own 17.60% of the company’s stock.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Negative Sentiment: Researchers said a sweeping hack campaign compromised Fortinet devices at prominent organizations, adding fresh scrutiny to the company’s security posture. Researcher report on hack campaign
• Negative Sentiment: Cybercriminals allegedly compromised tens of thousands of Fortinet firewalls and VPNs used by major companies, reinforcing fears of active exploitation and creating near-term overhang on the stock. TechCrunch hack report
• Negative Sentiment: Market commentary said FTNT is sliding as investors react to renewed vulnerability headlines and profit-taking after a recent run-up, suggesting some traders are locking in gains. Quiver Quant analysis

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.