Caprock Group LLC Raises Stake in Fortinet, Inc. $FTNT

Caprock Group LLC increased its stake in Fortinet, Inc. (NASDAQ:FTNT) by 29.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 41,574 shares of the software maker’s stock after buying an additional 9,453 shares during the quarter. Caprock Group LLC’s holdings in Fortinet were worth $3,301,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle Holdings LLC purchased a new position in shares of Fortinet in the 3rd quarter worth about $25,000. Financial Consulate Inc. purchased a new position in shares of Fortinet in the 3rd quarter worth about $25,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Fortinet in the 3rd quarter worth about $25,000. Ameriflex Group Inc. purchased a new position in shares of Fortinet in the 3rd quarter worth about $25,000. Finally, Wexford Capital LP purchased a new position in shares of Fortinet in the 3rd quarter worth about $25,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Michael Xie sold 343,106 shares of the company’s stock in a transaction dated 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 directly 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ken Xie sold 175,737 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. This represents a 0.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 17.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FTNT. UBS Group reissued a “neutral” rating and issued a $90.00 price target on shares of Fortinet in a report on Friday, February 6th. Mizuho cut their price target on shares of Fortinet from $74.00 to $70.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. Piper Sandler restated a “neutral” rating and issued a $90.00 price objective (up from $85.00) on shares of Fortinet in a research note on Monday, January 5th. Barclays set a $88.00 price objective on Fortinet in a research note on Tuesday, February 3rd. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $83.00 price objective on shares of Fortinet in a research note on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $87.04.

Fortinet Trading Down 5.0%

Shares of Fortinet stock opened at $82.76 on Friday. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $109.33. The stock’s 50-day simple moving average is $81.61 and its 200 day simple moving average is $81.75. The stock has a market capitalization of $61.24 billion, a P/E ratio of 34.06, a P/E/G ratio of 2.99 and a beta of 1.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the business posted $0.74 EPS. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. 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, research analysts anticipate that Fortinet, Inc. will post 2.63 EPS for the current year.

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.