West Family Investments Inc. Purchases Shares of 4,731 Fortinet, Inc. $FTNT

West Family Investments Inc. purchased a new position in Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,731 shares of the software maker’s stock, valued at approximately $727,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Knuff & Co LLC bought a new stake in shares of Fortinet during the 2nd quarter valued at $16,223,000. NewEdge Wealth LLC bought a new position in Fortinet in the 2nd quarter worth $64,821,000. Flossbach Von Storch SE bought a new position in Fortinet in the 2nd quarter worth $2,149,000. Empirical Asset Management LLC purchased a new stake in Fortinet in the 2nd quarter worth $296,000. Finally, Palmer Knight Co bought a new stake in Fortinet during the second quarter valued at about $12,391,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Ken Xie sold 161,482 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at $8,616,486,029.52. The trade was a 0.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were 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 $1,453,213,448.40. This represents a 0.04% 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 329,142 shares of company stock valued at $50,731,178 over the last three months. Corporate insiders own 17.60% of the company’s stock.

Fortinet Stock Performance

NASDAQ:FTNT opened at $152.85 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. Fortinet, Inc. has a 1 year low of $73.55 and a 1 year high of $172.09. The stock’s 50 day simple moving average is $155.98 and its two-hundred day simple moving average is $116.87. The company has a market cap of $112.15 billion, a price-to-earnings ratio of 53.82, a PEG ratio of 3.00 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the company earned $0.64 EPS. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, equities analysts anticipate that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on FTNT shares. DZ Bank downgraded Fortinet from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Mizuho set a $125.00 target price on Fortinet and gave the stock an “underperform” rating in a research report on Wednesday, July 15th. Wolfe Research set a $175.00 target price on Fortinet in a research note on Thursday, July 30th. Piper Sandler reissued a “neutral” rating and issued a $175.00 price target (up from $110.00) on shares of Fortinet in a report on Thursday, July 30th. Finally, Stephens set a $115.00 price target on Fortinet and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eighteen have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $150.91.

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.