Redwood Investment Management LLC Takes Position in Fortinet, Inc. $FTNT

Redwood Investment Management LLC purchased 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 firm purchased 14,845 shares of the software maker’s stock, valued at approximately $2,280,000.

A number of other hedge funds have also recently modified their holdings of the company. Expressive Wealth LLC bought a new position in shares of Fortinet during the fourth quarter valued at approximately $646,000. Leonteq Securities AG purchased a new position in shares of Fortinet during the 4th quarter worth approximately $10,422,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Fortinet in the 4th quarter worth approximately $14,638,000. Thrivent Financial for Lutherans lifted its stake in shares of Fortinet by 156.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock valued at $31,009,000 after purchasing an additional 238,299 shares during the period. Finally, Westerkirk Capital Inc. lifted its stake in shares of Fortinet by 41.9% in the 4th quarter. Westerkirk Capital Inc. now owns 52,500 shares of the software maker’s stock valued at $4,169,000 after purchasing an additional 15,500 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ken Xie sold 161,482 shares of the business’s 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 transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $8,616,486,029.52. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 Fortinet stock in a transaction 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 completion of the sale, the vice president owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have 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 Up 2.5%

FTNT opened at $157.54 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average price of $156.69 and a 200-day moving average price of $119.45. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $172.09. The stock has a market capitalization of $115.59 billion, a price-to-earnings ratio of 55.47, a PEG ratio of 2.91 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results 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 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $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. Equities research analysts forecast that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Scotiabank reaffirmed a “sector perform” rating and issued a $163.00 price target on shares of Fortinet in a research note on Thursday, July 30th. The Goldman Sachs Group restated a “buy” rating and set a $190.00 target price on shares of Fortinet in a report on Thursday, July 30th. Morgan Stanley reaffirmed a “positive” rating and issued a $136.00 target price (up from $133.00) on shares of Fortinet in a research report on Thursday, July 30th. Truist Financial set a $183.00 price target on shares of Fortinet and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Finally, HC Wainwright reissued a “buy” rating on shares of Fortinet in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.