Fortinet, Inc. $FTNT Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp grew its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 38.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,730,954 shares of the software maker’s stock after acquiring an additional 2,166,396 shares during the period. Van ECK Associates Corp’s holdings in Fortinet were worth $613,915,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Optimist Retirement Group LLC raised its holdings in shares of Fortinet by 2.5% in the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock worth $398,000 after purchasing an additional 122 shares in the last quarter. PDS Planning Inc raised its holdings in shares of Fortinet by 3.1% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock worth $326,000 after purchasing an additional 123 shares in the last quarter. GW&K Investment Management LLC raised its holdings in shares of Fortinet by 31.4% in the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock worth $41,000 after purchasing an additional 123 shares in the last quarter. Delta Investment Management LLC raised its holdings in shares of Fortinet by 2.4% in the 4th quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock worth $417,000 after purchasing an additional 125 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its holdings in shares of Fortinet by 2.0% in the 4th quarter. Catalyst Capital Advisors LLC now owns 6,459 shares of the software maker’s stock worth $513,000 after purchasing an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $107.00 target price (up from $90.00) on shares of Fortinet in a report on Thursday, May 7th. Susquehanna boosted their price target on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Robert W. Baird set a $115.00 price target on shares of Fortinet in a report on Thursday, May 7th. Zacks Research upgraded shares of Fortinet from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 14th. Finally, DZ Bank downgraded shares of Fortinet from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research report on Tuesday, May 19th. Two 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 stock. Based on data from MarketBeat, Fortinet currently has a consensus rating of “Hold” and an average price target of $107.77.

Fortinet Price Performance

NASDAQ FTNT opened at $146.30 on Friday. 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 fifty day simple moving average of $109.80 and a 200 day simple moving average of $91.08. The company has a market cap of $107.19 billion, a P/E ratio of 56.49, a P/E/G ratio of 3.97 and a beta of 1.11. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $150.07.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.73 billion. During the same period in the prior year, the company earned $0.58 EPS. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. 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, sell-side analysts predict that Fortinet, Inc. will post 2.78 EPS for the current year.

Insider Activity

In other news, COO John Whittle sold 146,015 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the transaction, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ken Xie sold 160,632 shares of the stock in a transaction on 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 transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. This 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 corporate insiders.

Fortinet 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.