Capital World Investors Takes $100.26 Million Position in Fortinet, Inc. $FTNT

Capital World Investors acquired a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 1,262,511 shares of the software maker’s stock, valued at approximately $100,256,000.

Other institutional investors have also recently modified their holdings of the company. Pinnacle Holdings LLC bought a new position in shares of Fortinet during the 3rd quarter valued at about $25,000. Ameriflex Group Inc. bought a new position in shares of Fortinet during the 3rd quarter valued at about $25,000. Wexford Capital LP bought a new position in shares of Fortinet during the 3rd quarter valued at about $25,000. Elyxium Wealth LLC purchased a new stake in Fortinet during the 4th quarter valued at about $27,000. Finally, Palisade Asset Management LLC purchased a new stake in Fortinet during the 3rd quarter valued at about $28,000. 83.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 3,907 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of 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. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value 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 approximately $7,711,717,915.76. This trade represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is currently owned by company insiders.

Fortinet Trading Down 3.3%

Shares of FTNT stock opened at $138.39 on Wednesday. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $150.07. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. The business has a 50-day moving average of $106.04 and a 200 day moving average of $89.80. The stock has a market capitalization of $101.39 billion, a PE ratio of 53.43, a P/E/G ratio of 3.92 and a beta of 1.11.

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, 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 analysts’ expectations of $1.73 billion. During the same quarter last year, the business 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. As a group, sell-side analysts anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Susquehanna increased their target price on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Bank of America increased their target price on Fortinet from $130.00 to $180.00 and gave the company a “buy” rating in a report on Monday. Freedom Capital cut Fortinet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. BMO Capital Markets increased their target price on Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Finally, Scotiabank increased their target price on Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Fortinet currently has an average rating of “Hold” and a consensus price target of $106.43.

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.