Peapack Gladstone Financial Corp Buys 4,406 Shares of Fortinet, Inc. $FTNT

Peapack Gladstone Financial Corp grew its stake in Fortinet, Inc. (NASDAQ:FTNT) by 1.9% in the 4th quarter, Holdings Channel reports. The firm owned 236,489 shares of the software maker’s stock after purchasing an additional 4,406 shares during the period. Peapack Gladstone Financial Corp’s holdings in Fortinet were worth $18,780,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FTNT. Norges Bank bought a new position in Fortinet in the 4th quarter worth $1,152,917,000. Vanguard Group Inc. increased its stake in shares of Fortinet by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after acquiring an additional 2,894,355 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Fortinet by 62.1% in the 3rd quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker’s stock worth $467,868,000 after acquiring an additional 2,132,109 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Fortinet by 30.9% in the 3rd quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock worth $636,962,000 after acquiring an additional 1,790,033 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after acquiring an additional 1,568,337 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FTNT has been the subject of several research reports. Scotiabank increased their price target on shares of Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. Wells Fargo & Company reiterated an “underweight” rating and issued a $70.00 price target (up from $64.00) on shares of Fortinet in a research note on Thursday, May 7th. BMO Capital Markets increased their price target on shares of Fortinet from $95.00 to $100.00 and gave the stock a “market perform” rating in a research note on Monday, May 4th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $83.00 price target on shares of Fortinet in a research note on Friday, February 6th. Finally, Arete Research set a $104.00 price target on shares of Fortinet and gave the stock a “buy” rating in a research note on Monday, April 27th. Two investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and an average price target of $102.69.

Fortinet Price Performance

NASDAQ:FTNT opened at $137.97 on Monday. The firm has a market cap of $101.08 billion, a P/E ratio of 53.27, a P/E/G ratio of 3.80 and a beta of 1.11. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $138.11. The firm has a 50-day simple moving average of $96.96 and a two-hundred day simple moving average of $86.65.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. Fortinet’s revenue was up 20.1% compared to the same quarter last year. During the same period last year, the business earned $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Analysts predict that Fortinet, Inc. will post 2.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortinet

In other Fortinet news, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the sale, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ken Xie sold 5,355 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $88.90, for a total transaction of $476,059.50. Following the sale, the chief executive officer owned 52,978,004 shares of the company’s stock, valued at approximately $4,709,744,555.60. This represents a 0.01% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 153,848 shares of company stock worth $19,446,115. 17.60% of the stock is 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.