Gallacher Capital Management LLC Has $364,000 Stake in Fortinet, Inc. $FTNT

Gallacher Capital Management LLC trimmed its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 52.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 4,449 shares of the software maker’s stock after selling 4,891 shares during the quarter. Gallacher Capital Management LLC’s holdings in Fortinet were worth $364,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of FTNT. Optimist Retirement Group LLC grew its holdings in Fortinet by 2.5% during the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock worth $398,000 after acquiring an additional 122 shares during the period. PDS Planning Inc boosted its position in shares of Fortinet by 3.1% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock worth $326,000 after purchasing an additional 123 shares during the last quarter. GW&K Investment Management LLC grew its stake in shares of 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 purchasing an additional 123 shares during the period. Delta Investment Management LLC increased its holdings in Fortinet by 2.4% in 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. Finally, Personal CFO Solutions LLC lifted its stake in Fortinet by 5.0% in the first quarter. Personal CFO Solutions LLC now owns 2,670 shares of the software maker’s stock valued at $218,000 after buying an additional 127 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet received an upgrade from Zacks Research to strong-buy, reinforcing a more constructive analyst view ahead of earnings. Zacks Research upgrade
• Positive Sentiment: Wall Street Zen upgraded Fortinet (FTNT) to buy, which could support investor confidence. Wall Street Zen upgrade
• Positive Sentiment: Several cybersecurity-focused articles highlighted FTNT as a beneficiary of rising agentic AI adoption, suggesting stronger long-term demand for security products. Agentic AI article
• Neutral Sentiment: Multiple previews ahead of Fortinet’s Q2 2026 earnings say analysts expect double-digit bottom-line growth, but the market is still waiting for the actual report, so this is more of a setup than a catalyst. Q2 2026 earnings preview
• Neutral Sentiment: Fortinet’s consensus broker recommendation remains Hold, indicating analysts are still mixed overall despite the recent upgrades. Consensus hold rating
• Negative Sentiment: One market report said Fortinet underperformed competitors on Thursday, which may have capped upside and suggests some relative weakness in the group. Underperforms competitors

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $161.61 on Friday. The firm has a market cap of $118.40 billion, a PE ratio of 62.40, a PEG ratio of 4.37 and a beta of 1.09. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $170.35. The company has a fifty day moving average price of $144.30 and a 200 day moving average price of $103.80.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the company earned $0.58 EPS. The company’s revenue 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. Research analysts predict that Fortinet, Inc. will post 2.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FTNT shares. Wells Fargo & Company restated an “underweight” rating and set a $70.00 target price (up from $64.00) on shares of Fortinet in a research report on Thursday, May 7th. UBS Group increased their target price on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Barclays boosted their price target on shares of Fortinet from $155.00 to $170.00 and gave the company an “equal weight” rating in a report on Monday, July 13th. Stephens set a $115.00 price objective on Fortinet and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings raised Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-three have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, Fortinet currently has an average rating of “Hold” and a consensus target price of $113.97.

Insider Buying and Selling

In related news, COO John Whittle sold 146,015 shares of Fortinet 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 sale, the chief operating officer owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ken Xie sold 160,632 shares of Fortinet 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 sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their position. 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. Over the last three months, insiders sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is owned by corporate 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.