Meeder Asset Management Inc. Purchases New Shares in Fortinet, Inc. $FTNT

Meeder Asset Management Inc. purchased a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 39,322 shares of the software maker’s stock, valued at approximately $6,041,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. boosted its position in Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after buying an additional 245 shares during the last quarter. Dunhill Financial LLC purchased a new stake in shares of Fortinet during the second quarter worth about $25,000. Wexford Capital LP purchased a new stake in shares of Fortinet during the third quarter worth about $25,000. Elyxium Wealth LLC acquired a new position in shares of Fortinet in the fourth quarter worth about $27,000. Finally, Palisade Asset Management LLC acquired a new position in shares of Fortinet in the third quarter worth about $28,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Price Performance

Shares of FTNT opened at $155.85 on Tuesday. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $172.09. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The firm has a market cap of $114.35 billion, a price-to-earnings ratio of 54.88, a PEG ratio of 3.03 and a beta of 1.07. The stock has a 50 day moving average of $155.31 and a 200-day moving average of $115.83.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results 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 191.54% and a net margin of 28.17%.The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the company posted $0.64 EPS. The business’s 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, analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current year.

Insider Buying and Selling at Fortinet

In other Fortinet news, VP Michael Xie sold 3,121 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.63, for a total transaction of $507,568.23. Following the sale, the vice president directly owned 9,918,360 shares of the company’s stock, valued at approximately $1,613,022,886.80. This represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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, 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 completion of the transaction, 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 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 475,157 shares of company stock worth $69,480,964 over the last 90 days. Insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FTNT. Robert W. Baird set a $165.00 price target on Fortinet in a report on Thursday, July 30th. Mizuho set a $125.00 price objective on Fortinet and gave the stock an “underperform” rating in a report on Wednesday, July 15th. Morgan Stanley reaffirmed a “positive” rating and issued a $136.00 target price (up from $133.00) on shares of Fortinet in a research report on Thursday, July 30th. BTIG Research increased their target price on Fortinet from $186.00 to $203.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada set a $185.00 price target on shares of Fortinet and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.