Frank Rimerman Advisors LLC Acquires 3,825 Shares of Fortinet, Inc. $FTNT

Frank Rimerman Advisors LLC lifted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 29.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 16,768 shares of the software maker’s stock after acquiring an additional 3,825 shares during the period. Frank Rimerman Advisors LLC’s holdings in Fortinet were worth $1,370,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Ameriflex Group Inc. bought a new position in Fortinet in the third quarter valued at approximately $25,000. Wexford Capital LP acquired a new stake in Fortinet during the 3rd quarter worth $25,000. Physician Wealth Advisors Inc. raised its position in shares of Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after acquiring an additional 245 shares during the last quarter. Palisade Asset Management LLC acquired a new position in shares of Fortinet in the 3rd quarter valued at $28,000. Finally, Elyxium Wealth LLC bought a new position in shares of Fortinet in the 4th quarter worth $27,000. 83.71% of the stock is owned by institutional investors.

Insider Activity at Fortinet

In related news, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president directly owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the transaction, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on FTNT shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 price objective on shares of Fortinet in a research note on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $100.00 target price on shares of Fortinet in a research note on Thursday, May 7th. Mizuho raised their target price on Fortinet from $70.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, May 7th. Bank of America boosted their target price on Fortinet from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Finally, UBS Group upped their price target on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, Fortinet currently has a consensus rating of “Hold” and a consensus price target of $107.58.

Fortinet Price Performance

Shares of FTNT opened at $163.73 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The stock has a 50 day simple moving average of $136.31 and a 200 day simple moving average of $100.55. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $164.01. The firm has a market capitalization of $119.96 billion, a PE ratio of 63.22, a P/E/G ratio of 4.26 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the company posted $0.58 EPS. The business’s quarterly 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. Sell-side analysts predict that Fortinet, Inc. will post 2.8 EPS for the current fiscal year.

Fortinet Company 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.