Patriot Financial Group Insurance Agency LLC Purchases 20,932 Shares of Fortinet, Inc. $FTNT

Patriot Financial Group Insurance Agency LLC raised its position in Fortinet, Inc. (NASDAQ:FTNT) by 103.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,156 shares of the software maker’s stock after buying an additional 20,932 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Fortinet were worth $3,363,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Optimist Retirement Group LLC lifted its holdings in shares of Fortinet by 2.5% during the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock worth $398,000 after buying an additional 122 shares in the last quarter. PDS Planning Inc grew its stake in shares of Fortinet by 3.1% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock valued at $326,000 after acquiring an additional 123 shares in the last quarter. GW&K Investment Management LLC increased its position in Fortinet by 31.4% during the fourth quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock worth $41,000 after acquiring an additional 123 shares during the period. Delta Investment Management LLC increased its position in Fortinet by 2.4% during the fourth quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock worth $417,000 after acquiring an additional 125 shares during the period. Finally, Catalyst Capital Advisors LLC raised its stake in Fortinet by 2.0% in the 4th quarter. Catalyst Capital Advisors LLC now owns 6,459 shares of the software maker’s stock worth $513,000 after purchasing an additional 128 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Price Performance

FTNT stock opened at $151.35 on Monday. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $152.77. The business has a 50-day simple moving average of $123.02 and a 200 day simple moving average of $95.70. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The company has a market cap of $110.89 billion, a PE ratio of 58.44, a price-to-earnings-growth ratio of 4.14 and a beta of 1.11.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data 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. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the company posted $0.58 earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Sell-side analysts anticipate that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Insider Transactions at Fortinet

In related news, COO John Whittle sold 146,015 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the transaction, the vice president owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This represents 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. In the last 90 days, insiders sold 318,387 shares of company stock valued at $43,403,063. Company insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Wells Fargo & Company reissued an “underweight” rating and issued a $70.00 price objective (up from $64.00) on shares of Fortinet in a report on Thursday, May 7th. Stifel Nicolaus set a $85.00 target price on shares of Fortinet in a report on Wednesday, March 11th. Scotiabank lifted their price target on shares of Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. Truist Financial set a $120.00 price target on Fortinet and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Zacks Research downgraded Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-five have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $107.77.

About Fortinet

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.