4,276 Shares in Fortinet, Inc. $FTNT Acquired by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC purchased a new position in Fortinet, Inc. (NASDAQ:FTNT) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,276 shares of the software maker’s stock, valued at approximately $349,000.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after acquiring an additional 221 shares in the last quarter. Bison Wealth LLC purchased a new stake in Fortinet in the 4th quarter worth $585,000. HUB Investment Partners LLC boosted its holdings in shares of Fortinet by 29.1% during the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after purchasing an additional 1,193 shares during the last quarter. Diversify Advisory Services LLC bought a new position in shares of Fortinet during the 2nd quarter valued at about $1,136,000. Finally, Quantinno Capital Management LP grew its position in shares of Fortinet by 27.4% during the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock valued at $15,328,000 after purchasing an additional 31,202 shares in the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Scotiabank lifted their target price on Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Mizuho raised their price target on Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $100.00 price objective on shares of Fortinet in a research note on Thursday, May 7th. Barclays set a $155.00 target price on Fortinet and gave the company an “equal weight” rating in a research report on Friday, June 12th. Finally, BMO Capital Markets raised their target price on shares of Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $108.74.

Insider Activity at Fortinet

In related news, COO John Whittle sold 146,015 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following 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. 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. In the last 90 days, insiders have sold 318,387 shares of company stock worth $43,403,063. Company insiders own 17.60% of the company’s stock.

Fortinet Trading Down 3.8%

FTNT opened at $157.51 on Friday. The firm has a market cap of $115.40 billion, a P/E ratio of 60.81, a P/E/G ratio of 4.45 and a beta of 1.09. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $165.28. 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 has a 50-day moving average of $137.74 and a 200 day moving average of $100.94.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data 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. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the business 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. As a group, research analysts forecast that Fortinet, Inc. will post 2.8 EPS for the current year.

About Fortinet

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.