Virtu Financial LLC Invests $848,000 in Fortinet, Inc. $FTNT

Virtu Financial LLC bought a new stake in Fortinet, Inc. (NASDAQ:FTNT) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 10,679 shares of the software maker’s stock, valued at approximately $848,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Fortinet during the 4th quarter worth approximately $1,152,917,000. Van ECK Associates Corp lifted its stake in Fortinet by 38.9% in the fourth quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock valued at $613,915,000 after purchasing an additional 2,166,396 shares during the last quarter. First Trust Advisors LP grew its holdings in Fortinet by 30.9% during the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock valued at $636,962,000 after purchasing an additional 1,790,033 shares during the period. AQR Capital Management LLC grew its holdings in Fortinet by 76.2% during the fourth quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock valued at $326,297,000 after purchasing an additional 1,777,115 shares during the period. Finally, Invesco Ltd. increased its position in Fortinet by 17.0% in the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after buying an additional 1,568,337 shares during the last quarter. 83.71% of the stock is owned by institutional investors.

Fortinet Stock Performance

Fortinet stock opened at $144.73 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $150.07. The stock has a market cap of $106.04 billion, a P/E ratio of 55.88, a PEG ratio of 3.96 and a beta of 1.11. The firm’s fifty day moving average price is $116.11 and its 200-day moving average price is $93.45.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FTNT. Rosenblatt Securities boosted their target price on Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Barclays set a $155.00 price target on Fortinet and gave the stock an “equal weight” rating in a research note on Friday, June 12th. Wells Fargo & Company reissued an “underweight” rating and issued a $70.00 price objective (up from $64.00) on shares of Fortinet in a report on Thursday, May 7th. Citigroup boosted their price objective on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, Susquehanna increased their target price on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-five have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $107.77.

Insiders Place Their Bets

In other news, COO John Whittle sold 146,015 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the sale, the chief operating officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. The trade was a 0.30% 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. Insiders sold a total of 318,387 shares of company stock valued at $43,403,063 over the last quarter. 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.