Quantbot Technologies LP Buys Shares of 34,068 Fortinet, Inc. $FTNT

Quantbot Technologies LP bought a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 34,068 shares of the software maker’s stock, valued at approximately $5,234,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FTNT. Brighton Jones LLC increased its holdings in shares of Fortinet by 2.2% in the 4th 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 in the last quarter. Bison Wealth LLC purchased a new stake in Fortinet during the fourth quarter worth about $585,000. HUB Investment Partners LLC grew 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 buying an additional 1,193 shares during the period. Diversify Advisory Services LLC acquired a new position in Fortinet during the second quarter worth about $1,136,000. Finally, Quantinno Capital Management LP increased its holdings in Fortinet by 27.4% in the second 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 in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FTNT. Evercore set a $165.00 price target on shares of Fortinet in a research report on Thursday, July 30th. Arete Research set a $104.00 price objective on Fortinet and gave the company a “buy” rating in a research note on Monday, April 27th. Susquehanna lifted their price objective on Fortinet from $115.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $160.00 target price on shares of Fortinet in a research report on Thursday, July 30th. Finally, Barclays set a $190.00 target price on Fortinet and gave the company an “equal weight” rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $150.91.

Fortinet Stock Up 1.8%

FTNT stock opened at $153.51 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. The company’s 50 day simple moving average is $156.24 and its 200-day simple moving average is $117.61. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $172.09. The firm has a market capitalization of $112.63 billion, a PE ratio of 54.05, a P/E/G ratio of 2.91 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 (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm posted $0.64 EPS. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Equities analysts expect that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortinet

In other news, VP Michael Xie sold 3,907 shares of the business’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 directly owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 the company’s stock in a transaction 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 $8,616,486,029.52. This 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. Insiders have sold 329,142 shares of company stock valued at $50,731,178 in the last three months. 17.60% of the stock is currently owned by company insiders.

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.