Havemeyer Place LP Acquires Shares of 13,466 Fortinet, Inc. $FTNT

Havemeyer Place LP acquired a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 13,466 shares of the software maker’s stock, valued at approximately $1,069,000.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Fortinet by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after acquiring an additional 2,894,355 shares in the last quarter. State Street Corp boosted its position in Fortinet by 1.6% during the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after acquiring an additional 477,397 shares in the last quarter. Norges Bank bought a new stake in Fortinet during the 4th quarter valued at approximately $1,152,917,000. Bank of New York Mellon Corp boosted its position in Fortinet by 6.6% during the 4th quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock valued at $1,151,810,000 after acquiring an additional 893,190 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Fortinet by 17.0% during the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after acquiring an additional 1,568,337 shares in the last quarter. 83.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. DZ Bank cut Fortinet from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research report on Tuesday, May 19th. Zacks Research raised Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 14th. Truist Financial set a $120.00 price target on Fortinet and gave the stock a “buy” rating in a research report on Thursday, May 7th. UBS Group boosted their price target on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Susquehanna boosted their price target on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $102.69.

Fortinet Stock Performance

FTNT stock opened at $144.68 on Monday. The stock has a market capitalization of $106.00 billion, a PE ratio of 55.86, a price-to-earnings-growth ratio of 3.96 and a beta of 1.11. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $150.07. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The stock’s 50 day simple moving average is $103.59 and its 200 day simple moving average is $88.94.

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

More Fortinet News

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.

Insider Activity at Fortinet

In related news, COO John Whittle sold 146,015 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value 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 represents a 60.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total value of $23,384,806.56. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at $7,711,717,915.76. 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. In the last three months, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is owned by corporate insiders.

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.