Impact Partnership Wealth LLC Acquires New Position in Fortinet, Inc. $FTNT

Impact Partnership Wealth LLC bought a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 3,869 shares of the software maker’s stock, valued at approximately $307,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Forsta AP Fonden lifted its holdings in Fortinet by 34.3% in the fourth quarter. Forsta AP Fonden now owns 313,900 shares of the software maker’s stock valued at $24,927,000 after acquiring an additional 80,200 shares during the period. Norges Bank acquired a new stake in Fortinet in the fourth quarter valued at $1,152,917,000. Eurizon SLJ Capital Ltd acquired a new stake in Fortinet in the fourth quarter valued at $1,744,000. Eurizon Capital SGR S.p.A. acquired a new stake in Fortinet in the fourth quarter valued at $14,638,000. Finally, Fideuram Asset Management Ireland dac acquired a new stake in Fortinet in the fourth quarter valued at $4,879,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Buying and Selling

In related news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the transaction, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. The trade was a 60.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ken Xie sold 5,355 shares of Fortinet stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $88.90, for a total value of $476,059.50. Following the transaction, the chief executive officer owned 52,978,004 shares of the company’s stock, valued at $4,709,744,555.60. This represents a 0.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold 153,848 shares of company stock worth $19,446,115 in the last ninety days. Insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Morgan Stanley reissued an “underweight” rating and issued a $80.00 target price on shares of Fortinet in a report on Thursday, May 7th. Jefferies Financial Group set a $90.00 price target on shares of Fortinet in a research report on Friday, February 6th. Evercore set a $80.00 price target on shares of Fortinet in a research report on Friday, February 6th. Piper Sandler lifted their price target on shares of Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Susquehanna lifted their price target on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Fortinet currently has an average rating of “Hold” and a consensus price target of $102.69.

Fortinet Stock Performance

NASDAQ:FTNT opened at $137.97 on Monday. The company has a market capitalization of $101.08 billion, a PE ratio of 53.27, a price-to-earnings-growth ratio of 3.80 and a beta of 1.11. 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, Inc. has a 52-week low of $70.12 and a 52-week high of $138.11. The stock has a fifty day simple moving average of $96.96 and a 200-day simple moving average of $86.65.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results 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 business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company posted $0.58 EPS. The business’s revenue was up 20.1% on a year-over-year basis. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. On average, equities research analysts expect that Fortinet, Inc. will post 2.77 earnings per share for the current fiscal year.

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.