Fulcrum Capital LLC Has $11.44 Million Stock Position in Fortinet, Inc. $FTNT

Fulcrum Capital LLC increased its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 4.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 144,106 shares of the software maker’s stock after acquiring an additional 6,524 shares during the period. Fortinet comprises approximately 2.3% of Fulcrum Capital LLC’s investment portfolio, making the stock its 14th largest holding. Fulcrum Capital LLC’s holdings in Fortinet were worth $11,443,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FTNT. Vanguard Group Inc. grew its stake in Fortinet by 4.0% in the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after purchasing an additional 2,894,355 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Fortinet by 62.1% during the 3rd quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker’s stock worth $467,868,000 after purchasing an additional 2,132,109 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Fortinet by 30.9% in the 3rd quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock valued at $636,962,000 after buying an additional 1,790,033 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after buying an additional 1,568,337 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Fortinet by 23.1% in the third quarter. Ameriprise Financial Inc. now owns 5,160,348 shares of the software maker’s stock valued at $430,082,000 after buying an additional 969,899 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FTNT shares. Morgan Stanley restated an “underweight” rating and set a $70.00 target price (up from $66.00) on shares of Fortinet in a report on Thursday, December 18th. Cantor Fitzgerald reissued a “neutral” rating on shares of Fortinet in a research report on Thursday, March 12th. Oppenheimer restated a “market perform” rating on shares of Fortinet in a research note on Friday, January 23rd. Wedbush reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Fortinet in a report on Friday, February 6th. Finally, BMO Capital Markets raised their target price on shares of Fortinet from $90.00 to $95.00 and gave the company a “market perform” rating in a research note on Monday, February 9th. Five analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, Fortinet currently has a consensus rating of “Hold” and a consensus target price of $87.84.

Fortinet Stock Up 3.4%

FTNT opened at $81.72 on Wednesday. The stock’s fifty day simple moving average is $81.60 and its 200 day simple moving average is $81.93. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $109.33. The stock has a market cap of $60.47 billion, a PE ratio of 33.63, a price-to-earnings-growth ratio of 2.73 and a beta of 1.05. 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 released its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the business posted $0.74 earnings per share. The company’s revenue for the quarter 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 expect that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 175,737 shares of Fortinet stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the completion of the sale, the chief executive officer owned 51,396,385 shares of the company’s stock, valued at approximately $4,184,693,666.70. The trade was a 0.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael Xie sold 343,106 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 transaction of $27,935,690.52. Following the completion of the transaction, the vice president owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. This trade represents a 3.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 18.00% of the company’s stock.

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.