Pallas Capital Advisors LLC Has $1.57 Million Holdings in Fortinet, Inc. $FTNT

Pallas Capital Advisors LLC raised its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 57.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 19,752 shares of the software maker’s stock after purchasing an additional 7,246 shares during the period. Pallas Capital Advisors LLC’s holdings in Fortinet were worth $1,569,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allstate Corp bought a new stake in Fortinet during the third quarter worth $2,034,000. Asset Management One Co. Ltd. lifted its stake in Fortinet by 4.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 402,278 shares of the software maker’s stock valued at $33,824,000 after acquiring an additional 17,892 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Fortinet by 465.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 756,651 shares of the software maker’s stock worth $64,255,000 after acquiring an additional 622,809 shares during the last quarter. Machina Capital S.A.S. bought a new stake in shares of Fortinet in the 3rd quarter worth $1,177,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Fortinet by 5.8% in the third quarter. Victory Capital Management Inc. now owns 1,651,683 shares of the software maker’s stock valued at $138,874,000 after purchasing an additional 90,284 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fortinet

In other Fortinet news, VP Michael Xie sold 343,106 shares of the stock in a transaction on Monday, February 2nd. The stock was 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 in the company, valued at $831,321,160.44. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ken Xie sold 175,737 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $14,308,506.54. Following the completion of 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 18.00% of the company’s stock.

Fortinet Price Performance

FTNT opened at $78.20 on Monday. The firm has a 50-day moving average price of $81.41 and a 200-day moving average price of $81.93. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $109.33. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $57.86 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 2.69 and a beta of 1.05.

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

Wall Street Analysts Forecast Growth

FTNT has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $90.00 price objective (up from $85.00) on shares of Fortinet in a research report on Monday, January 5th. Oppenheimer reaffirmed a “market perform” rating on shares of Fortinet in a report on Friday, January 23rd. Evercore set a $80.00 price target on Fortinet in a research report on Friday, February 6th. JPMorgan Chase & Co. boosted their price objective on Fortinet from $72.00 to $73.00 and gave the stock an “underweight” rating in a research report on Friday, February 6th. Finally, BMO Capital Markets raised their target price on Fortinet from $90.00 to $95.00 and gave the company a “market perform” rating in a research report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Fortinet currently has an average rating of “Hold” and a consensus price target of $88.62.

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.