Fairtree Asset Management Pty Ltd Takes Position in Fortinet, Inc. $FTNT

Fairtree Asset Management Pty Ltd purchased a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 28,895 shares of the software maker’s stock, valued at approximately $4,439,000. Fortinet comprises approximately 1.7% of Fairtree Asset Management Pty Ltd’s portfolio, making the stock its 16th biggest holding.

Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after purchasing an additional 221 shares during the last quarter. Bison Wealth LLC bought a new position in shares of Fortinet in the 4th quarter worth about $585,000. HUB Investment Partners LLC lifted its position in shares of Fortinet by 29.1% in the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock worth $560,000 after buying an additional 1,193 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in shares of Fortinet in the 2nd quarter valued at about $1,136,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of Fortinet by 27.4% in the 2nd quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock valued at $15,328,000 after buying an additional 31,202 shares during the period. 83.71% of the stock is currently owned by institutional investors.

Insider Activity at Fortinet

In related news, VP Michael Xie sold 3,121 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total value of $507,568.23. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available 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, CEO Ken Xie sold 161,482 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This trade represents a 0.30% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 329,142 shares of company stock worth $50,731,178 in the last 90 days. 17.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FTNT shares. JPMorgan Chase & Co. increased their price objective on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, May 7th. HSBC downgraded Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 target price for the company. in a research note on Monday, June 29th. Weiss Ratings raised Fortinet from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 31st. Truist Financial set a $183.00 price target on Fortinet and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, TD Cowen reissued a “buy” rating and issued a $215.00 price target (up from $160.00) on shares of Fortinet in a report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $150.91.

Fortinet Stock Down 1.3%

FTNT stock opened at $150.79 on Friday. 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 fifty-two week low of $73.55 and a fifty-two week high of $172.09. The firm’s 50-day simple moving average is $156.10 and its 200 day simple moving average is $117.36. The stock has a market cap of $110.64 billion, a PE ratio of 53.10, a price-to-earnings-growth ratio of 2.90 and a beta of 1.07.

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 the consensus estimate of $0.75 by $0.15. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. Fortinet’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period last year, the firm posted $0.64 EPS. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, sell-side analysts predict that Fortinet, Inc. will post 3.05 EPS 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.