State of Wyoming Acquires New Position in Fortinet, Inc. $FTNT

State of Wyoming bought a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,187 shares of the software maker’s stock, valued at approximately $643,000.

Other institutional investors have also recently modified their holdings of the company. Elevation Wealth Partners LLC raised its position in Fortinet by 53.6% in the second quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after acquiring an additional 75 shares in the last quarter. Florida Financial Advisors LLC lifted its holdings in Fortinet by 3.0% in the first quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock valued at $309,000 after acquiring an additional 109 shares during the period. Optimist Retirement Group LLC boosted its position in shares of Fortinet by 2.5% during the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock worth $398,000 after purchasing an additional 122 shares in the last quarter. PDS Planning Inc boosted its position in shares of Fortinet by 3.1% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock worth $326,000 after purchasing an additional 123 shares in the last quarter. Finally, GW&K Investment Management LLC grew its stake in shares of Fortinet by 31.4% during the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock worth $41,000 after purchasing an additional 123 shares during the period. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Fortinet Stock Performance

NASDAQ:FTNT opened at $160.01 on Monday. Fortinet, Inc. has a 52-week low of $73.55 and a 52-week high of $172.09. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $155.05 and a 200-day simple moving average of $115.31. The company has a market capitalization of $117.40 billion, a PE ratio of 56.34, a price-to-earnings-growth ratio of 3.03 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating 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 analysts’ expectations of $1.89 billion. During the same period in the prior year, the company earned $0.64 EPS. The firm’s revenue was up 25.6% on a year-over-year basis. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, equities research analysts expect that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Activity

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This represents a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction on 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 transaction, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at $12,163,508.84. The trade was a 60.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 475,157 shares of company stock worth $69,480,964 over the last ninety days. 17.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. William Blair reiterated a “market perform” rating on shares of Fortinet in a report on Tuesday, July 21st. DZ Bank downgraded shares of Fortinet from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Bank of America restated a “buy” rating on shares of Fortinet in a research report on Monday, July 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $160.00 target price on shares of Fortinet in a report on Thursday, July 30th. Finally, HC Wainwright reissued a “buy” rating on shares of Fortinet in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $150.91.

Fortinet 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.