one8zero8 LLC Makes New $28.88 Million Investment in Fortinet, Inc. $FTNT

one8zero8 LLC bought a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the 2nd quarter, HoldingsChannel reports. The firm bought 187,993 shares of the software maker’s stock, valued at approximately $28,879,000. Fortinet makes up approximately 5.7% of one8zero8 LLC’s holdings, making the stock its 2nd largest position.

A number of other hedge funds and other institutional investors have also modified their holdings of FTNT. Brighton Jones LLC raised its holdings in shares of Fortinet by 2.2% during the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after acquiring an additional 221 shares during the period. Bison Wealth LLC purchased a new stake in shares of Fortinet in the fourth quarter valued at about $585,000. HUB Investment Partners LLC increased its position in Fortinet by 29.1% during the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock worth $560,000 after purchasing an additional 1,193 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in Fortinet during the second quarter worth about $1,136,000. Finally, Quantinno Capital Management LP raised its stake in Fortinet by 27.4% during the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock worth $15,328,000 after purchasing an additional 31,202 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Ken Xie sold 161,482 shares of the firm’s 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 transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at approximately $8,616,486,029.52. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 3,907 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the sale, the vice president directly owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 329,142 shares of company stock valued at $50,731,178. 17.60% of the stock is currently owned by corporate insiders.

Fortinet Stock Down 3.3%

NASDAQ:FTNT opened at $152.85 on Thursday. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $172.09. The stock’s fifty day moving average is $155.98 and its two-hundred day moving average is $116.87. The stock has a market capitalization of $112.15 billion, a price-to-earnings ratio of 53.82, a price-to-earnings-growth ratio of 3.00 and a beta of 1.07. 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 (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The company’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Research analysts anticipate that Fortinet, Inc. will post 3.05 EPS for the current year.

Analysts Set New Price Targets

FTNT has been the subject of several analyst reports. Wells Fargo & Company set a $135.00 price target on shares of Fortinet and gave the company an “underweight” rating in a research note on Thursday, July 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $185.00 price target (up from $165.00) on shares of Fortinet in a research report on Thursday, July 30th. UBS Group reiterated a “neutral” rating and issued a $180.00 price objective on shares of Fortinet in a report on Thursday, July 30th. JPMorgan Chase & Co. increased their price objective on Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, May 7th. Finally, Truist Financial set a $183.00 target price on Fortinet and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $150.91.

Fortinet Company 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.