Commerce Bank Makes New $4.30 Million Investment in Fortinet, Inc. $FTNT

Commerce Bank acquired a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, HoldingsChannel reports. The institutional investor acquired 27,978 shares of the software maker’s stock, valued at approximately $4,298,000.

Several other large investors also recently modified their holdings of the business. Physician Wealth Advisors Inc. boosted its holdings in Fortinet by 408.3% in the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after purchasing an additional 245 shares during the last quarter. Dunhill Financial LLC purchased a new stake in Fortinet during the 2nd quarter worth approximately $25,000. Wexford Capital LP acquired a new position in shares of Fortinet in the 3rd quarter valued at approximately $25,000. Elyxium Wealth LLC purchased a new position in shares of Fortinet during the 4th quarter valued at approximately $27,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Fortinet during the third quarter worth approximately $28,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FTNT. Stephens set a $115.00 price target on shares of Fortinet and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Fortinet in a research note on Monday. Barclays set a $190.00 price objective on shares of Fortinet and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $160.00 target price on shares of Fortinet in a research report on Thursday, July 30th. Finally, DZ Bank cut shares of Fortinet from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $150.91.

Insiders Place Their Bets

In other news, CEO Ken Xie sold 161,482 shares of the firm’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 transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This trade represents a 0.30% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Xie sold 3,121 shares of Fortinet stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the transaction, the vice president directly owned 9,918,360 shares of the company’s stock, valued at $1,613,022,886.80. This trade represents a 0.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold 329,142 shares of company stock worth $50,731,178 over the last three months. 17.60% of the stock is owned by corporate insiders.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $151.99 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $111.52 billion, a price-to-earnings ratio of 53.52, a price-to-earnings-growth ratio of 2.91 and a beta of 1.07. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $172.09. The business has a 50 day simple moving average of $156.29 and a 200-day simple moving average of $118.38.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.15. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period last year, the business posted $0.64 earnings per share. 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 research analysts expect that Fortinet, Inc. will post 3.05 earnings per share for the current year.

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.