Fortinet, Inc. $FTNT Shares Purchased by Waddell & Associates LLC

Waddell & Associates LLC grew its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 110.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,591 shares of the software maker’s stock after purchasing an additional 4,515 shares during the period. Waddell & Associates LLC’s holdings in Fortinet were worth $682,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fox Run Management L.L.C. acquired a new stake in Fortinet during the 4th quarter valued at $631,000. Claret Asset Management Corp lifted its holdings in Fortinet by 5.0% in the 4th quarter. Claret Asset Management Corp now owns 3,045 shares of the software maker’s stock worth $242,000 after buying an additional 145 shares in the last quarter. Cerity Partners LLC lifted its holdings in Fortinet by 33.2% in the 4th quarter. Cerity Partners LLC now owns 356,949 shares of the software maker’s stock worth $28,345,000 after buying an additional 88,962 shares in the last quarter. West Family Investments Inc. boosted its position in Fortinet by 13.8% in the 4th quarter. West Family Investments Inc. now owns 2,812 shares of the software maker’s stock valued at $223,000 after buying an additional 342 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Fortinet by 3.6% in the 4th quarter. Franklin Resources Inc. now owns 539,286 shares of the software maker’s stock valued at $42,826,000 after buying an additional 18,982 shares during the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on FTNT shares. Zacks Research raised Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 14th. BTIG Research increased their price target on Fortinet from $125.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Piper Sandler raised their price objective on Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Mizuho lifted their price objective on Fortinet from $70.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, May 7th. Finally, BMO Capital Markets upped their target price on Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortinet currently has an average rating of “Hold” and an average target price of $106.43.

Insider Activity

In related news, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. This represents a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the sale, the vice president owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 318,387 shares of company stock valued at $43,403,063. Company insiders own 17.60% of the company’s stock.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $143.04 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $104.80 billion, a price-to-earnings ratio of 55.23, a price-to-earnings-growth ratio of 3.96 and a beta of 1.11. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $150.07. The business has a 50 day simple moving average of $104.83 and a 200-day simple moving average of $89.39.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm 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 earnings per share. The firm’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. As a group, equities research analysts expect that Fortinet, Inc. will post 2.78 earnings per share for the current year.

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.