49,686 Shares in Fortinet, Inc. $FTNT Acquired by Johnson Financial Group Inc.

Johnson Financial Group Inc. acquired a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) during the second quarter, Holdings Channel.com reports. The fund acquired 49,686 shares of the software maker’s stock, valued at approximately $7,633,000.

Other large investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC acquired a new stake in shares of Fortinet during the 2nd quarter valued at $25,000. Elevation Wealth Partners LLC increased its stake in shares of 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 during the last quarter. Wexford Capital LP acquired a new position in shares of Fortinet in the third quarter worth $25,000. Physician Wealth Advisors Inc. raised its holdings 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 worth $25,000 after acquiring an additional 245 shares in the last quarter. Finally, Palisade Asset Management LLC purchased a new stake in shares of Fortinet during the third quarter worth $28,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Trading Down 3.3%

NASDAQ:FTNT opened at $152.85 on Thursday. The company’s 50 day moving average is $155.98 and its 200-day moving average is $116.87. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $172.09. The firm has a market cap of $112.15 billion, a price-to-earnings ratio of 53.82, a P/E/G ratio of 3.00 and a beta of 1.07.

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 the consensus estimate of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the firm earned $0.64 EPS. Fortinet’s quarterly revenue 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. Equities analysts anticipate that Fortinet, Inc. will post 3.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Morgan Stanley restated a “positive” rating and issued a $136.00 target price (up from $133.00) on shares of Fortinet in a research note on Thursday, July 30th. Rosenblatt Securities raised their price target on Fortinet from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. UBS Group reiterated a “neutral” rating and set a $180.00 price target on shares of Fortinet in a report on Thursday, July 30th. William Blair reissued a “market perform” rating on shares of Fortinet in a research note on Tuesday, July 21st. Finally, Wolfe Research set a $175.00 price objective on Fortinet in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $150.91.

Insider Transactions at Fortinet

In other news, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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, VP Michael Xie sold 3,121 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.63, for a total value of $507,568.23. Following the transaction, the vice president directly owned 9,918,360 shares of the company’s stock, valued at $1,613,022,886.80. This represents a 0.03% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 329,142 shares of company stock valued at $50,731,178 over the last 90 days. Corporate insiders own 17.60% of the company’s stock.

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.