Maytus Capital Management LLC Acquires New Position in Fortinet, Inc. $FTNT

Maytus Capital Management LLC acquired a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) during the fourth quarter, Holdings Channel.com reports. The fund acquired 54,500 shares of the software maker’s stock, valued at approximately $4,328,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Expressive Wealth LLC acquired a new stake in Fortinet in the fourth quarter valued at approximately $646,000. Trilogy Capital Inc. lifted its stake in Fortinet by 46.8% in the fourth quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock valued at $3,506,000 after acquiring an additional 14,076 shares during the last quarter. Leonteq Securities AG acquired a new stake in Fortinet in the fourth quarter valued at approximately $10,422,000. Thrivent Financial for Lutherans lifted its stake in Fortinet by 156.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock valued at $31,009,000 after acquiring an additional 238,299 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Fortinet by 5.8% in the third quarter. Victory Capital Management Inc. now owns 1,651,683 shares of the software maker’s stock valued at $138,874,000 after acquiring an additional 90,284 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on FTNT shares. Citigroup lifted their target price on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Susquehanna lifted their target price on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. DZ Bank cut shares of Fortinet from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research note on Tuesday, May 19th. Rosenblatt Securities boosted their price objective on shares of Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Scotiabank boosted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-five have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $107.77.

Fortinet Price Performance

NASDAQ:FTNT opened at $147.02 on Wednesday. The stock has a market cap of $107.71 billion, a P/E ratio of 56.76, a PEG ratio of 4.09 and a beta of 1.11. Fortinet, Inc. has a one year low of $70.12 and a one year high of $150.07. The company has a fifty day moving average price of $112.43 and a 200 day moving average price of $92.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07.

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. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the company 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 anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet launched FortiSOC, a unified, cloud-delivered SOC platform powered by agentic AI, which could strengthen its cybersecurity product lineup and support future revenue growth. Fortinet Launches FortiSOC, a Unified SOC Platform Powered by Agentic AI
• Positive Sentiment: TD Cowen and Cantor Fitzgerald raised their price targets on Fortinet, citing strong security and AI growth prospects, which reinforces a bullish outlook for the stock. TD Cowen and Cantor Fitzgerald Increase Fortinet Price Targets
• Positive Sentiment: At its annual meeting, shareholders backed the board, auditor, and executive pay, reducing governance uncertainty and signaling continued investor support. Fortinet Shareholders Back Board, Auditor and Executive Pay
• Neutral Sentiment: Coverage on FTNT noted the stock underperformed competitors on Tuesday, but the article did not point to a new fundamental problem. Fortinet Inc. stock underperforms Tuesday when compared to competitors
• Neutral Sentiment: Trading-focused articles suggested bullish technical setups and an options strategy targeting upside, but these were largely commentary rather than fresh business news. Fortinet Stock: Aim For A 28% Return With This Strategy On The Cybersecurity Firm

Insider Activity at Fortinet

In related news, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the transaction, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This represents a 0.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the company’s 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 transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. The trade was a 0.30% 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. Insiders sold a total of 318,387 shares of company stock worth $43,403,063 in the last ninety days. 17.60% of the stock is currently owned by 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.