Westerkirk Capital Inc. Boosts Stake in Fortinet, Inc. $FTNT

by · The Markets Daily

Westerkirk Capital Inc. grew its position in shares of Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 41.9% during the fourth quarter, Holdings Channel reports. The fund owned 52,500 shares of the software maker’s stock after purchasing an additional 15,500 shares during the period. Westerkirk Capital Inc.’s holdings in Fortinet were worth $4,169,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Optimist Retirement Group LLC grew its holdings in shares of Fortinet by 2.5% during the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock worth $398,000 after acquiring an additional 122 shares during the period. PDS Planning Inc grew its stake in shares of Fortinet by 3.1% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock worth $326,000 after buying an additional 123 shares during the last quarter. Delta Investment Management LLC grew its stake in shares of Fortinet by 2.4% in the 4th quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock worth $417,000 after buying an additional 125 shares during the last quarter. Catalyst Capital Advisors LLC grew its stake in shares of Fortinet by 2.0% in the 4th quarter. Catalyst Capital Advisors LLC now owns 6,459 shares of the software maker’s stock worth $513,000 after buying an additional 128 shares during the last quarter. Finally, Fiduciary Trust Co grew its stake in shares of Fortinet by 1.2% in the 3rd quarter. Fiduciary Trust Co now owns 10,823 shares of the software maker’s stock worth $910,000 after buying an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

FTNT has been the topic of several recent research reports. Mizuho upped their price target on Fortinet from $70.00 to $86.00 and gave the stock an “underperform” rating in a research note on Thursday, May 7th. Piper Sandler upped their price target on Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Compass Point set a $100.00 price target on Fortinet in a research note on Monday, May 4th. Zacks Research upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 14th. Finally, Freedom Capital downgraded Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $106.43.

Read Our Latest Stock Report on Fortinet

Fortinet Stock Performance

Shares of FTNT opened at $143.04 on Tuesday. The business’s fifty day simple moving average is $104.83 and its two-hundred day simple moving average is $89.39. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $150.07. The company has a market cap of $104.80 billion, a price-to-earnings ratio of 55.23, a P/E/G ratio of 3.96 and a beta of 1.11.

Fortinet (NASDAQ:FTNT – Get Free Report) last issued its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating 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 business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the business posted $0.58 EPS. The company’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. Research analysts anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortinet

In other Fortinet news, CEO Ken Xie sold 160,632 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. This trade represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following the sale, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 318,387 shares of company stock worth $43,403,063. Insiders own 17.60% of the company’s stock.

About Fortinet

(Free Report)

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.

Further Reading

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