Arrowstreet Capital Limited Partnership Boosts Stake in Fortinet, Inc. $FTNT

Arrowstreet Capital Limited Partnership boosted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,150,830 shares of the software maker’s stock after buying an additional 506,847 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Fortinet were worth $409,027,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Pinnacle Holdings LLC purchased a new stake in Fortinet during the third quarter worth $25,000. Ameriflex Group Inc. purchased a new stake in Fortinet during the third quarter worth $25,000. Wexford Capital LP purchased a new stake in Fortinet during the third quarter worth $25,000. Palisade Asset Management LLC purchased a new stake in Fortinet during the third quarter worth $28,000. Finally, Elyxium Wealth LLC purchased a new stake in Fortinet during the fourth quarter worth $27,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on FTNT shares. BTIG Research upped their target price on Fortinet from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Wells Fargo & Company restated an “underweight” rating and set a $70.00 target price (up from $64.00) on shares of Fortinet in a report on Thursday, May 7th. Robert W. Baird set a $115.00 target price on Fortinet in a report on Thursday, May 7th. BMO Capital Markets upped their target price on Fortinet from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. Finally, UBS Group upped their price target on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $107.77.

Fortinet Stock Performance

Shares of FTNT stock opened at $146.30 on Friday. The business’s fifty day simple moving average is $109.80 and its 200-day simple moving average is $91.08. The company has a market cap of $107.19 billion, a PE ratio of 56.49, a PEG ratio of 4.01 and a beta of 1.11. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $150.07.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Analysts expect that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal year.

Insider Transactions at Fortinet

In related news, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 completion of the transaction, the chief operating officer owned 94,724 shares of the company’s stock, valued at $12,163,508.84. This trade represents a 60.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 318,387 shares of company stock valued at $43,403,063. 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.