Fortinet, Inc. $FTNT Shares Sold by Birchbrook Inc.

Birchbrook Inc. cut its stake in Fortinet, Inc. (NASDAQ:FTNT) by 48.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,161 shares of the software maker’s stock after selling 7,709 shares during the period. Birchbrook Inc.’s holdings in Fortinet were worth $1,254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Expressive Wealth LLC purchased a new stake in Fortinet during the fourth quarter worth approximately $646,000. Leonteq Securities AG purchased a new position in Fortinet in the fourth quarter valued at approximately $10,422,000. Eurizon Capital SGR S.p.A. purchased a new position in Fortinet in the fourth quarter valued at approximately $14,638,000. Thrivent Financial for Lutherans raised its holdings in Fortinet by 156.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock worth $31,009,000 after purchasing an additional 238,299 shares in the last quarter. Finally, Westerkirk Capital Inc. lifted its position in shares of Fortinet by 41.9% during the 4th quarter. Westerkirk Capital Inc. now owns 52,500 shares of the software maker’s stock worth $4,169,000 after buying an additional 15,500 shares during the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 161,482 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO John Whittle sold 146,015 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer owned 94,724 shares in the company, valued at $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. Over the last quarter, insiders sold 475,157 shares of company stock worth $69,480,964. Company insiders own 17.60% of the company’s stock.

Fortinet Stock Performance

Shares of Fortinet stock opened at $159.64 on Friday. The firm’s fifty day simple moving average is $153.54 and its 200-day simple moving average is $112.10. Fortinet, Inc. has a 12 month low of $72.83 and a 12 month high of $172.09. The stock has a market capitalization of $117.13 billion, a price-to-earnings ratio of 56.21, a PEG ratio of 3.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the business earned $0.64 EPS. Fortinet’s quarterly revenue 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. As a group, equities analysts forecast that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FTNT has been the subject of several research analyst reports. Susquehanna upped their target price on shares of Fortinet from $115.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, July 31st. TD Cowen reiterated a “buy” rating and set a $215.00 price target (up from $160.00) on shares of Fortinet in a research note on Monday, July 13th. Rosenblatt Securities boosted their price target on shares of Fortinet from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Fortinet from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. raised their price objective on Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, Fortinet presently has an average rating of “Hold” and a consensus price target of $150.91.

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.