Bell Bank Grows Holdings in Fortinet, Inc. $FTNT

Bell Bank raised its stake in Fortinet, Inc. (NASDAQ:FTNT) by 93.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,014 shares of the software maker’s stock after buying an additional 11,118 shares during the period. Bell Bank’s holdings in Fortinet were worth $1,828,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FTNT. Financial Consulate Inc. purchased a new stake in Fortinet during the third quarter valued at about $25,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Fortinet in the 3rd quarter worth about $25,000. Pinnacle Holdings LLC purchased a new position in shares of Fortinet in the 3rd quarter worth about $25,000. Ameriflex Group Inc. bought a new position in shares of Fortinet during the 3rd quarter valued at about $25,000. Finally, Wexford Capital LP purchased a new position in shares of Fortinet during the 3rd quarter valued at about $25,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Price Performance

FTNT opened at $78.20 on Friday. The stock’s 50 day simple moving average is $81.41 and its 200 day simple moving average is $81.91. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $109.33. The firm has a market cap of $57.86 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 2.70 and a beta of 1.05.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.07. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 earnings per share. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. As a group, analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FTNT. Robert W. Baird set a $90.00 target price on Fortinet in a research report on Friday, February 6th. Stifel Nicolaus set a $85.00 price target on shares of Fortinet in a research report on Wednesday, March 11th. Barclays set a $88.00 price target on shares of Fortinet in a research note on Tuesday, February 3rd. Jefferies Financial Group set a $90.00 price objective on shares of Fortinet in a research note on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fortinet in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Fortinet has a consensus rating of “Hold” and a consensus price target of $88.62.

Insider Buying and Selling at Fortinet

In related news, CEO Ken Xie sold 175,737 shares of Fortinet stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $14,308,506.54. Following the transaction, the chief executive officer directly owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael Xie sold 343,106 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the sale, the vice president owned 10,210,282 shares of the company’s stock, valued at $831,321,160.44. This represents a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% 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.