Sunbelt Securities Inc. Buys 7,310 Shares of Fortinet, Inc. $FTNT

by · The Markets Daily

Sunbelt Securities Inc. grew its stake in shares of Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 52.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 21,202 shares of the software maker’s stock after acquiring an additional 7,310 shares during the period. Sunbelt Securities Inc.’s holdings in Fortinet were worth $1,783,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. LSV Asset Management acquired a new stake in shares of Fortinet during the 2nd quarter valued at $25,000. Pinnacle Holdings LLC bought a new position in Fortinet in the third quarter valued at about $25,000. Financial Consulate Inc. bought a new position in Fortinet in the third quarter valued at about $25,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Fortinet during the third quarter valued at about $25,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Fortinet during the third quarter valued at about $25,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Stock Up 0.3%

Shares of NASDAQ FTNT opened at $83.39 on Thursday. The company’s 50 day moving average price is $80.96 and its 200-day moving average price is $81.79. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $109.33. The company has a market capitalization of $61.70 billion, a P/E ratio of 34.32, a price-to-earnings-growth ratio of 2.87 and a beta of 1.05.

Fortinet (NASDAQ:FTNT – Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.07. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. Fortinet’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted $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. Equities analysts forecast that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FTNT shares. Robert W. Baird set a $90.00 price objective on Fortinet in a research note on Friday, February 6th. Citigroup reissued a “neutral” rating and set a $90.00 target price (up from $85.00) on shares of Fortinet in a report on Monday, February 9th. Truist Financial set a $88.00 price target on shares of Fortinet in a research note on Tuesday, January 20th. Cantor Fitzgerald reissued a “neutral” rating on shares of Fortinet in a research note on Thursday, March 12th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $83.00 target price on shares of Fortinet in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Fortinet presently has a consensus rating of “Hold” and a consensus price target of $88.62.

Get Our Latest Research Report on FTNT

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 175,737 shares of the company’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 $14,308,506.54. Following the sale, the chief executive officer owned 51,396,385 shares in the company, valued at $4,184,693,666.70. This represents a 0.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $27,935,690.52. Following the completion of the sale, the vice president owned 10,210,282 shares of the company’s stock, valued at approximately $831,321,160.44. The trade was a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is owned by insiders.

Fortinet Company Profile

(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.

See Also

Want to see what other hedge funds are holding FTNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortinet, Inc. (NASDAQ:FTNT – Free Report).