6,727 Shares in Fortinet, Inc. $FTNT Purchased by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC purchased a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,727 shares of the software maker’s stock, valued at approximately $534,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FTNT. Vanguard Group Inc. raised its position in Fortinet by 4.0% during the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after acquiring an additional 2,894,355 shares in the last quarter. Van ECK Associates Corp raised its position in Fortinet by 62.1% during the third quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker’s stock worth $467,868,000 after acquiring an additional 2,132,109 shares in the last quarter. First Trust Advisors LP raised its position in Fortinet by 30.9% during the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock worth $636,962,000 after acquiring an additional 1,790,033 shares in the last quarter. Invesco Ltd. raised its position in Fortinet by 17.0% during the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after acquiring an additional 1,568,337 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Fortinet by 23.1% in the third quarter. Ameriprise Financial Inc. now owns 5,160,348 shares of the software maker’s stock valued at $430,082,000 after buying an additional 969,899 shares during the period. 83.71% of the stock is owned by institutional investors.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 5,355 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $88.90, for a total transaction of $476,059.50. Following the transaction, the chief executive officer directly owned 52,978,004 shares of the company’s stock, valued at approximately $4,709,744,555.60. This trade represents a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 2,478 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $88.89, for a total transaction of $220,269.42. Following the transaction, the vice president directly owned 9,927,517 shares in the company, valued at approximately $882,456,986.13. This represents a 0.02% 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. 17.60% of the stock is currently owned by company insiders.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $129.46 on Friday. The firm has a market cap of $94.85 billion, a P/E ratio of 49.98, a price-to-earnings-growth ratio of 3.58 and a beta of 0.92. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $130.36. The business’s 50 day moving average is $91.06 and its 200-day moving average is $84.58.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Equities research analysts predict that Fortinet, Inc. will post 2.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. BTIG Research upgraded Fortinet from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Thursday, May 7th. Wells Fargo & Company restated an “underweight” rating and issued a $70.00 price objective (up from $64.00) on shares of Fortinet in a research note on Thursday, May 7th. Stephens set a $115.00 price objective on Fortinet and gave the company an “equal weight” rating in a research note on Thursday, May 7th. DZ Bank lowered Fortinet from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research note on Tuesday. Finally, Zacks Research raised shares of Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $101.83.

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.