Goodman Advisory Group LLC Has $2.70 Million Stock Holdings in Fortinet, Inc. $FTNT

Goodman Advisory Group LLC boosted its position in Fortinet, Inc. (NASDAQ:FTNT) by 58.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,000 shares of the software maker’s stock after buying an additional 12,220 shares during the period. Goodman Advisory Group LLC’s holdings in Fortinet were worth $2,697,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in FTNT. Brighton Jones LLC grew its stake in Fortinet by 2.2% in 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 worth approximately $585,000. HUB Investment Partners LLC raised its position 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 worth $560,000 after purchasing an additional 1,193 shares during the period. Diversify Advisory Services LLC bought a new position in shares of Fortinet in the 2nd quarter worth $1,136,000. Finally, Quantinno Capital Management LP lifted its holdings in shares of Fortinet by 27.4% in the 2nd quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock worth $15,328,000 after purchasing an additional 31,202 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Stephens set a $115.00 price target on shares of Fortinet and gave the company an “equal weight” rating in a research report on Thursday, May 7th. 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 note on Thursday, May 7th. BMO Capital Markets lifted their price objective on shares of Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Arete Research set a $104.00 target price on shares of Fortinet and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Wells Fargo & Company restated an “underweight” rating and issued a $70.00 target price (up from $64.00) on shares of Fortinet in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-five have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $107.77.

Fortinet Trading Up 0.9%

Shares of Fortinet stock opened at $151.35 on Friday. The company has a market capitalization of $110.89 billion, a P/E ratio of 58.44, a price-to-earnings-growth ratio of 4.14 and a beta of 1.11. The stock has a fifty day simple moving average of $123.02 and a 200 day simple moving average of $95.61. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $152.77. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50.

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, beating the consensus estimate of $0.62 by $0.20. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business’s revenue was up 20.1% on a year-over-year basis. During the same period last year, the business earned $0.58 EPS. 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, sell-side analysts anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal year.

Insider Activity

In other news, COO John Whittle sold 146,015 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the sale, the chief operating officer owned 94,724 shares in the company, valued at $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ken Xie sold 160,632 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at $7,711,717,915.76. The trade was 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. Insiders sold a total of 318,387 shares of company stock worth $43,403,063 over the last quarter. Insiders own 17.60% of the company’s stock.

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.