Fortinet, Inc. $FTNT Shares Acquired by State of Wyoming

State of Wyoming lifted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 250.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,391 shares of the software maker’s stock after buying an additional 5,284 shares during the quarter. State of Wyoming’s holdings in Fortinet were worth $587,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Pinnacle Holdings LLC acquired a new stake in shares of Fortinet during the third quarter worth approximately $25,000. Ameriflex Group Inc. acquired a new stake in shares of Fortinet during the third quarter worth approximately $25,000. Wexford Capital LP acquired a new stake in shares of Fortinet during the third quarter worth approximately $25,000. Elyxium Wealth LLC acquired a new stake in shares of Fortinet during the fourth quarter worth approximately $27,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Fortinet during the third quarter worth approximately $28,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insiders Place Their Bets

In other Fortinet news, 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 value of $572,141.08. Following the completion of the transaction, the vice president 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 document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the business’s stock in a transaction 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 transaction, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 318,387 shares of company stock valued at $43,403,063 over the last 90 days. 17.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FTNT shares. Zacks Research raised shares of Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 price target on shares of Fortinet in a research report on Thursday, May 7th. Sanford C. Bernstein reissued a “market perform” rating and set a $83.00 price target on shares of Fortinet in a research report on Friday, February 6th. Stephens set a $115.00 price target on shares of Fortinet and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $125.00 price objective (up from $100.00) on shares of Fortinet in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-four have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $102.69.

Fortinet Stock Performance

Fortinet stock opened at $144.68 on Friday. The company has a market cap of $106.00 billion, a PE ratio of 55.86, a P/E/G ratio of 4.10 and a beta of 1.11. The company has a fifty day moving average price of $103.59 and a two-hundred day moving average price of $88.89. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $150.07.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Research analysts expect that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet’s latest quarterly results beat expectations, with EPS and revenue both coming in ahead of analyst forecasts, while management also raised full-year 2026 guidance.
• Positive Sentiment: Investors are rewarding Fortinet’s AI security push, including new AI-focused products and its positioning as a converged security and networking platform.
• Positive Sentiment: Momentum remains strong after the earnings report, with commentary noting the stock has surged substantially over the past month and is continuing to attract attention from traders and growth investors.
• Neutral Sentiment: Recent articles focused on whether the rally can continue, highlighting valuation questions and the need for future earnings estimates to keep improving.
• Negative Sentiment: There was a small insider sale by VP Michael Xie, though it was pre-arranged under a 10b5-1 plan and therefore appears more routine than concerning.

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.