Meeder Advisory Services Inc. Grows Stock Position in Fortinet, Inc. $FTNT

Meeder Advisory Services Inc. boosted its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 35.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,206 shares of the software maker’s stock after acquiring an additional 4,725 shares during the period. Meeder Advisory Services Inc.’s holdings in Fortinet were worth $1,488,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Expressive Wealth LLC acquired a new stake in shares of Fortinet during the fourth quarter worth about $646,000. Trilogy Capital Inc. boosted its stake in shares of Fortinet by 46.8% in the fourth quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock valued at $3,506,000 after purchasing an additional 14,076 shares during the period. Leonteq Securities AG acquired a new position in shares of Fortinet in the fourth quarter valued at approximately $10,422,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Fortinet in the fourth quarter valued at approximately $14,638,000. Finally, Thrivent Financial for Lutherans increased its stake in Fortinet by 156.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock worth $31,009,000 after buying an additional 238,299 shares during the period. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Fortinet Trading Down 0.8%

NASDAQ FTNT opened at $160.36 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $170.35. The stock has a market capitalization of $117.49 billion, a PE ratio of 61.92, a price-to-earnings-growth ratio of 4.39 and a beta of 1.09. The firm has a 50 day moving average of $145.20 and a two-hundred day moving average of $104.52.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The company’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. As a group, research analysts expect that Fortinet, Inc. will post 2.8 EPS for the current fiscal year.

Insider Activity at Fortinet

In other Fortinet news, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% 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. Also, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 318,387 shares of company stock valued at $43,403,063 over the last quarter. 17.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on FTNT shares. Morgan Stanley raised shares of Fortinet from an “underweight” rating to an “outperform” rating in a research report on Tuesday. Weiss Ratings raised Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. JPMorgan Chase & Co. increased their price objective on Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, May 7th. DZ Bank lowered Fortinet from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a report on Tuesday, May 19th. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $120.00 target price (up from $70.00) on shares of Fortinet in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-three have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $115.58.

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.