Entropy Technologies LP Buys New Shares in Fortinet, Inc. $FTNT

Entropy Technologies LP purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 5,933 shares of the software maker’s stock, valued at approximately $485,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Florida Financial Advisors LLC grew its holdings in shares of Fortinet by 3.0% in the 1st quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock valued at $309,000 after acquiring an additional 109 shares in the last quarter. Optimist Retirement Group LLC increased its position in shares of Fortinet by 2.5% in the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock valued at $398,000 after acquiring an additional 122 shares during the last quarter. PDS Planning Inc raised its holdings in Fortinet by 3.1% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock worth $326,000 after acquiring an additional 123 shares in the last quarter. GW&K Investment Management LLC raised its holdings in Fortinet by 31.4% during the fourth quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock worth $41,000 after acquiring an additional 123 shares in the last quarter. Finally, Delta Investment Management LLC boosted its position in Fortinet by 2.4% during the fourth quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock valued at $417,000 after purchasing an additional 125 shares during the last quarter. 83.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FTNT has been the subject of a number of analyst reports. Zacks Research upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Arete Research set a $104.00 price objective on Fortinet and gave the stock a “buy” rating in a research note on Monday, April 27th. Piper Sandler increased their price objective on Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. raised their target price on shares of Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, May 7th. Finally, DZ Bank downgraded shares of Fortinet from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a report on Tuesday, May 19th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $123.61.

Fortinet Trading Up 2.2%

Fortinet stock opened at $153.22 on Thursday. The stock has a 50-day simple moving average of $149.45 and a 200 day simple moving average of $108.19. The stock has a market capitalization of $112.26 billion, a P/E ratio of 59.16, a PEG ratio of 4.08 and a beta of 1.09. 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 52 week low of $70.12 and a 52 week high of $170.35.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.15. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Analysts expect that Fortinet, Inc. will post 2.8 earnings per share for the current year.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q2 results surpassed estimates. Fortinet reported $2.05 billion in revenue, up 26% year over year and above the $1.89 billion consensus estimate. Adjusted EPS was $0.90 versus expectations of $0.75, while GAAP diluted EPS rose to $0.82 from $0.57 a year earlier. Fortinet Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Product momentum accelerated. Product revenue jumped 52% to $773 million, billings increased 33% to $2.37 billion, and the company generated $1.04 billion in operating cash flow and $966 million in free cash flow. Management cited strong enterprise demand amid rising cybersecurity threats. Fortinet lifts annual revenue forecast on strong cybersecurity demand
• Positive Sentiment: Fortinet raised its 2026 outlook. Full-year revenue guidance increased to $8.02 billion-$8.18 billion, compared with the prior outlook of approximately $8.0 billion-$8.2 billion as reported in the company’s updated guidance, and the company projected adjusted EPS of $3.41-$3.47 versus the $3.08 analyst consensus. Third-quarter revenue guidance of $2.01 billion-$2.10 billion and EPS guidance of $0.83-$0.87 also exceeded consensus estimates. Fortinet Reports Strong Second Quarter 2026 Financial Results
• Neutral Sentiment: Fortinet also expanded its FortiGate G Series with the 1200G and FortiSASE Outpost, supporting its strategy of combining networking, firewall and cloud-delivered security services. Fortinet Expands FortiGate G Series
• Negative Sentiment: Valuation remains a risk after the strong rally: Fortinet trades at a high earnings multiple, and Wells Fargo maintained a Sell rating. In addition, reported insider activity showed executives selling shares without recorded purchases in the past six months, which may temper bullish sentiment.

Insider Buying and Selling

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 value 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ken Xie sold 160,632 shares of the firm’s stock in a transaction 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 sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. This represents a 0.30% decrease in their position. 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 insiders.

Fortinet 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.