Caprock Group LLC Buys Shares of 32,121 Fortinet, Inc. $FTNT

Caprock Group LLC bought a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 32,121 shares of the software maker’s stock, valued at approximately $2,530,000.

Several other hedge funds also recently made changes to their positions in the stock. LSV Asset Management purchased a new stake in Fortinet during the 2nd quarter worth about $25,000. Financial Consulate Inc. bought a new stake in shares of Fortinet during the third quarter valued at about $25,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Fortinet in the third quarter worth about $25,000. SJS Investment Consulting Inc. lifted its holdings in shares of Fortinet by 1,556.5% in the third quarter. SJS Investment Consulting Inc. now owns 381 shares of the software maker’s stock worth $32,000 after buying an additional 358 shares in the last quarter. Finally, Quaker Wealth Management LLC boosted its position in shares of Fortinet by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock valued at $38,000 after acquiring an additional 726 shares during the period. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on FTNT. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 target price on shares of Fortinet in a research note on Monday, November 24th. Piper Sandler reaffirmed a “neutral” rating and issued a $90.00 price target (up previously from $85.00) on shares of Fortinet in a report on Monday, January 5th. Oppenheimer reiterated a “market perform” rating on shares of Fortinet in a research report on Friday, January 23rd. Truist Financial set a $88.00 target price on Fortinet in a research report on Tuesday, January 20th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $83.00 target price on shares of Fortinet in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Fortinet has an average rating of “Hold” and an average target price of $89.07.

Insider Buying and Selling at Fortinet

In other news, VP Michael Xie sold 343,106 shares of the firm’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 transaction, the vice president directly owned 10,210,282 shares of the company’s stock, valued at approximately $831,321,160.44. This trade represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ken Xie sold 175,737 shares of Fortinet stock in a transaction dated 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 owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. This represents a 0.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is currently owned by company insiders.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $84.26 on Friday. The stock’s 50-day moving average is $80.59 and its 200 day moving average is $82.35. The stock has a market cap of $62.66 billion, a price-to-earnings ratio of 34.68, a P/E/G ratio of 3.03 and a beta of 1.06. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $114.82. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.07. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.Fortinet’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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. On average, sell-side analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

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.