Fortinet, Inc. $FTNT Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its stake in Fortinet, Inc. (NASDAQ:FTNT) by 87.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,651,024 shares of the software maker’s stock after buying an additional 4,500,194 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.32% of Fortinet worth $788,682,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wexford Capital LP purchased a new position in Fortinet during the third quarter valued at approximately $25,000. Physician Wealth Advisors Inc. boosted its position in Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after purchasing an additional 245 shares in the last quarter. Palisade Asset Management LLC acquired a new stake in shares of Fortinet during the 3rd quarter worth approximately $28,000. Elyxium Wealth LLC acquired a new stake in shares of Fortinet during the 4th quarter worth approximately $27,000. Finally, Maseco LLP purchased a new position in shares of Fortinet during the 1st quarter valued at approximately $29,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FTNT has been the topic of a number of recent analyst reports. BTIG Research increased their price target on shares of Fortinet from $150.00 to $186.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Susquehanna lifted their price objective on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Weiss Ratings upgraded shares of Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. Zacks Research raised shares of Fortinet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, Truist Financial set a $183.00 target price on Fortinet and gave the company a “buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Fortinet has a consensus rating of “Hold” and an average target price of $123.61.

Fortinet Stock Down 2.3%

FTNT opened at $151.54 on Friday. The company has a market cap of $111.03 billion, a PE ratio of 58.51, a price-to-earnings-growth ratio of 4.22 and a beta of 1.09. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $170.35. The company has a 50-day moving average price of $147.43 and a 200 day moving average price of $106.13. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the firm posted $0.58 EPS. Fortinet’s revenue was up 20.1% compared to the same quarter last year. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Sell-side analysts expect that Fortinet, Inc. will post 2.8 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president directly owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 318,387 shares of company stock worth $43,403,063 over the last quarter. 17.60% of the stock is currently owned by corporate insiders.

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.