First Trust Advisors LP Raises Holdings in Fortinet, Inc. $FTNT

First Trust Advisors LP increased its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 45.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,506,173 shares of the software maker’s stock after purchasing an additional 3,598,487 shares during the period. Fortinet accounts for about 0.7% of First Trust Advisors LP’s holdings, making the stock its 11th biggest position. First Trust Advisors LP owned about 1.57% of Fortinet worth $940,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the stock. Physician Wealth Advisors Inc. lifted its stake in shares of Fortinet by 408.3% during the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after buying an additional 245 shares during the period. Wexford Capital LP purchased a new stake in Fortinet in the 3rd quarter worth approximately $25,000. Elyxium Wealth LLC acquired a new position in Fortinet in the 4th quarter valued at $27,000. Palisade Asset Management LLC purchased a new position in shares of Fortinet during the 3rd quarter worth $28,000. Finally, Ares Financial Consulting LLC purchased a new position in shares of Fortinet during the 4th quarter worth $29,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Activity at Fortinet

In other news, VP Michael Xie sold 3,907 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the sale, the vice president owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a legal 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, CEO Ken Xie sold 160,632 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. The trade was a 0.30% 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. Over the last quarter, insiders have sold 318,387 shares of company stock worth $43,403,063. Company insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

FTNT has been the subject of a number of recent analyst reports. William Blair reaffirmed a “market perform” rating on shares of Fortinet in a research report on Tuesday. Rosenblatt Securities upped their price objective on shares of Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. UBS Group increased their price objective on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Scotiabank raised their target price on shares of Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Finally, Citigroup boosted their target price on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-four have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $119.48.

Fortinet Price Performance

FTNT stock opened at $158.10 on Wednesday. The company has a market cap of $115.83 billion, a PE ratio of 61.04, a price-to-earnings-growth ratio of 4.36 and a beta of 1.09. 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 50-day moving average price of $146.08 and a two-hundred day moving average price of $105.08. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $170.35.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the business posted $0.58 EPS. The company’s quarterly revenue 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, research analysts predict that Fortinet, Inc. will post 2.8 EPS for the current year.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Intel and Fortinet announced a collaboration to develop Fortinet’s next-generation Security Processor 6, with Fortinet becoming Intel Foundry’s first publicly named cybersecurity chip customer. The deal highlights demand for Fortinet’s hardware and could strengthen its supply chain and product roadmap. Intel (INTC) Lands Fortinet As First Named Cybersecurity Customer For Its Foundry
• Positive Sentiment: Wall Street analysts turned more constructive on Fortinet, with one upgrade and another raising the price target while maintaining a Hold rating. The revisions suggest confidence in Fortinet’s fundamentals, even if valuation remains a concern. This Fortinet Analyst Is No Longer Bearish; Here Are Top 4 Upgrades For Tuesday Fortinet Price Target Raised to $140 as Strong Fundamentals Clash With Stretch Valuation, Supporting a Hold Rating
• Neutral Sentiment: Cybersecurity stocks remain in favor as investors rotate away from some AI and semiconductor names, which supports Fortinet’s sector backdrop. Cybersecurity Stocks Are Holding Up as the AI Trade Starts to Crack (FTNT)
• Negative Sentiment: Despite the positive headlines, Fortinet is still seen as expensive by some analysts, and Morgan Stanley warned that lofty cybersecurity valuations could limit upside ahead of earnings. Cybersecurity Stocks’ Hefty Valuations Demand Caution Ahead of Earnings, Morgan Stanley Says

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.