Fortinet, Inc. $FTNT Position Increased by Prairie Advisory LLC

by · The Markets Daily

Prairie Advisory LLC grew its position in shares of Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 100.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,012 shares of the software maker’s stock after buying an additional 5,506 shares during the period. Prairie Advisory LLC’s holdings in Fortinet were worth $1,969,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of FTNT. BlackRock Inc. acquired a new position in shares of Fortinet in the 2nd quarter worth approximately $9,561,650,000. Bank of New York Mellon Corp acquired a new stake in shares of Fortinet during the 2nd quarter valued at approximately $1,432,842,000. Legal & General Group Plc acquired a new stake in shares of Fortinet during the 2nd quarter valued at approximately $979,062,000. First Trust Advisors LP lifted its stake in Fortinet by 45.5% during the first quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock worth $940,284,000 after purchasing an additional 3,598,487 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Fortinet by 87.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock worth $788,682,000 after purchasing an additional 4,500,194 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling at Fortinet

In other news, CEO Ken Xie sold 161,482 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at approximately $8,616,486,029.52. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO John Whittle sold 2,835 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $168.74, for a total transaction of $478,377.90. Following the transaction, the chief operating officer owned 96,987 shares of the company’s stock, valued at $16,365,586.38. This represents a 2.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 221,303 shares of company stock worth $36,164,034. 17.60% of the stock is owned by insiders.

Fortinet Stock Performance

Shares of NASDAQ FTNT traded up $3.63 during mid-day trading on Monday, hitting $172.76. The company had a trading volume of 1,800,905 shares, compared to its average volume of 5,815,346. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $197.13. The stock has a market cap of $126.75 billion, a price-to-earnings ratio of 60.74, a PEG ratio of 3.16 and a beta of 1.03. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. The firm’s 50 day simple moving average is $169.33 and its two-hundred day simple moving average is $143.30.

Fortinet (NASDAQ:FTNT – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the business earned $0.64 EPS. The firm’s revenue was up 25.6% on a year-over-year basis. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, equities research analysts forecast that Fortinet, Inc. will post 3.10 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Jefferies Financial Group lifted their price objective on shares of Fortinet from $165.00 to $190.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Royal Bank Of Canada boosted their target price on shares of Fortinet from $185.00 to $205.00 and gave the company a “sector perform” rating in a research note on Monday, October 12th. Weiss Ratings raised shares of Fortinet from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Bank of America restated a “buy” rating on shares of Fortinet in a research report on Monday, July 27th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $160.00 price target (up from $100.00) on shares of Fortinet in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty-one have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $160.92.

Read Our Latest Stock Analysis on FTNT

Fortinet Profile

(Free Report)

Fortinet, Inc develops cybersecurity products and services designed to protect networks, endpoints, applications, cloud environments and operational technology systems. The company’s portfolio includes next-generation firewalls, secure networking products, endpoint security, web application security, email security, identity and access solutions, and security information and event management tools.

Its product offerings include FortiGate network security appliances and cloud-based firewalls, along with FortiSwitch, FortiAP and FortiExtender solutions for secure connectivity.

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