CTC Alternative Strategies Ltd. Acquires Shares of 3,100 Fortinet, Inc. $FTNT

CTC Alternative Strategies Ltd. acquired a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,100 shares of the software maker’s stock, valued at approximately $253,000.

Other institutional investors also recently modified their holdings of the company. Wexford Capital LP bought a new position in shares of Fortinet in the 3rd quarter worth $25,000. Physician Wealth Advisors Inc. grew its position in Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after purchasing an additional 245 shares during the period. Palisade Asset Management LLC bought a new stake in Fortinet during the 3rd quarter valued at $28,000. Elyxium Wealth LLC bought a new stake in Fortinet during the 4th quarter valued at $27,000. Finally, Maseco LLP acquired a new position in Fortinet during the first quarter worth $29,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Susquehanna raised their price objective on shares of Fortinet from $115.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday. Mizuho set a $125.00 target price on shares of Fortinet and gave the stock an “underperform” rating in a research report on Wednesday, July 15th. Wells Fargo & Company set a $135.00 target price on shares of Fortinet and gave the stock an “underweight” rating in a report on Thursday. HSBC cut shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price target on the stock. in a research report on Monday, June 29th. Finally, William Blair reiterated a “market perform” rating on shares of Fortinet in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-three have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $150.91.

Fortinet Price Performance

Shares of NASDAQ:FTNT opened at $161.95 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.07 and a debt-to-equity ratio of 0.32. The stock’s fifty day simple moving average is $150.50 and its two-hundred day simple moving average is $109.09. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $170.35. The stock has a market cap of $118.65 billion, a PE ratio of 57.02, a price-to-earnings-growth ratio of 4.17 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm earned $0.64 EPS. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, analysts forecast that Fortinet, Inc. will post 2.82 EPS for the current fiscal year.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Strong Q2 results: Fortinet reported earnings of $0.90 per share versus the $0.75 consensus estimate, while revenue rose 25.6% year over year to $2.05 billion, above the $1.89 billion forecast. Product revenue reportedly increased 52%, and billings climbed 33% to $2.37 billion. Fortinet lifts annual revenue forecast on strong cybersecurity demand
• Positive Sentiment: Guidance raised: Management lifted its full-year 2026 revenue outlook, signaling confidence that enterprise spending on security will remain strong amid rising data-security incidents. Analysts also highlighted pricing strength and solid execution. Fortinet raises revenue outlook after strong Q2 and new AI product push
• Positive Sentiment: AI and platform momentum: Demand for Fortinet’s AI-security offerings, SASE Firewall, security platforms and operational-technology products is providing additional growth catalysts as companies expand AI infrastructure. FTNT Q2 earnings call highlights SASE Firewall growth
• Positive Sentiment: Analyst target increases: Rosenblatt raised its target to $195 and BTIG raised its target to $203, both with Buy ratings. Citigroup also increased its target to $185, reinforcing the favorable near-term reaction to the earnings report. Analysts boost forecasts following upbeat Q2 earnings
• Neutral Sentiment: Susquehanna raised its target to $160 but retained a Neutral rating, while William Blair maintained a Hold rating, citing questions about how durable Fortinet’s pricing and growth advantages will be.
• Negative Sentiment: Valuation remains a risk after the stock’s substantial multiyear gain. At roughly 57 times earnings, shares may already reflect considerable optimism, leaving less room for disappointment. Fortinet stock seems stretched following its five-year run

Insider Activity at Fortinet

In related news, COO John Whittle sold 146,015 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction dated 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 have sold 318,387 shares of company stock valued at $43,403,063 over the last ninety days. Corporate insiders own 17.60% of the company’s stock.

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.