GSA Capital Partners LLP Acquires Shares of 10,206 Fortinet, Inc. $FTNT

GSA Capital Partners LLP bought a new position in Fortinet, Inc. (NASDAQ:FTNT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,206 shares of the software maker’s stock, valued at approximately $1,568,000.

Other institutional investors have also recently made changes to their positions in the company. Expressive Wealth LLC purchased a new stake in shares of Fortinet during the 4th quarter valued at about $646,000. Leonteq Securities AG purchased a new position in shares of Fortinet during the fourth quarter valued at approximately $10,422,000. Eurizon Capital SGR S.p.A. bought a new position in Fortinet during the fourth quarter valued at approximately $14,638,000. Thrivent Financial for Lutherans boosted its holdings in Fortinet by 156.6% in 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 during the last quarter. Finally, Westerkirk Capital Inc. boosted its holdings in Fortinet by 41.9% in the fourth quarter. Westerkirk Capital Inc. now owns 52,500 shares of the software maker’s stock worth $4,169,000 after purchasing an additional 15,500 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Price Performance

NASDAQ FTNT opened at $160.01 on Monday. The business’s fifty day moving average is $155.05 and its 200 day moving average is $115.31. Fortinet, Inc. has a fifty-two week low of $73.55 and a fifty-two week high of $172.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. The company has a market capitalization of $117.40 billion, a PE ratio of 56.34, a price-to-earnings-growth ratio of 3.03 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The business 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 posted $0.64 earnings per share. The business’s quarterly revenue was up 25.6% on a year-over-year basis. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Sell-side analysts predict that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Insider Buying and Selling

In related news, COO John Whittle sold 146,015 shares of the stock in a transaction that occurred 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 directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ken Xie sold 161,482 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. The trade was a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders sold 475,157 shares of company stock valued at $69,480,964. 17.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FTNT shares. Compass Point set a $100.00 target price on shares of Fortinet in a research note on Monday, May 4th. Evercore set a $165.00 price objective on Fortinet in a report on Thursday, July 30th. TD Cowen reiterated a “buy” rating and set a $215.00 price objective (up from $160.00) on shares of Fortinet in a research report on Monday, July 13th. Citigroup increased their target price on Fortinet from $165.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Finally, Truist Financial set a $183.00 target price on Fortinet and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eighteen have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $150.91.

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.