Two Sigma Securities LLC Buys Shares of 9,052 Fortinet, Inc. $FTNT

Two Sigma Securities LLC acquired a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,052 shares of the software maker’s stock, valued at approximately $1,391,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Fortinet during the second quarter worth $9,561,650,000. State Street Corp grew its stake in shares of Fortinet by 1.6% in the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after buying an additional 477,397 shares in the last quarter. Norges Bank acquired a new stake in shares of Fortinet in the fourth quarter valued at $1,152,917,000. Bank of New York Mellon Corp increased its stake in Fortinet by 6.6% during the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock worth $1,151,810,000 after purchasing an additional 893,190 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Fortinet by 45.5% during the 1st quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock worth $940,284,000 after buying an additional 3,598,487 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction that occurred 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 owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This trade represents a 0.30% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 168,510 shares of company stock worth $27,346,371. 17.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FTNT. Wells Fargo & Company set a $135.00 price target on shares of Fortinet and gave the stock an “underweight” rating in a research note on Thursday, July 30th. Scotiabank restated a “sector perform” rating and issued a $163.00 price objective on shares of Fortinet in a report on Thursday, July 30th. Wall Street Zen raised shares of Fortinet from a “hold” rating to a “buy” rating in a research report on Monday, August 3rd. Mizuho set a $125.00 target price on shares of Fortinet and gave the stock an “underperform” rating in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada set a $185.00 target price on Fortinet and gave the company a “sector perform” rating in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Fortinet has an average rating of “Hold” and an average price target of $150.91.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $170.93 on Tuesday. The stock has a 50 day moving average of $158.19 and a two-hundred day moving average of $121.25. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $173.89. The stock has a market cap of $125.41 billion, a P/E ratio of 60.19, a P/E/G ratio of 3.15 and a beta of 1.07. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32.

Fortinet (NASDAQ:FTNT) last issued 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 company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the firm posted $0.64 EPS. Fortinet’s revenue for the quarter 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, research analysts forecast that Fortinet, Inc. will post 3.05 earnings per share for the current year.

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.