United Asset Strategies Inc. Sells 13,323 Shares of Fortinet, Inc. $FTNT

United Asset Strategies Inc. lowered its position in Fortinet, Inc. (NASDAQ:FTNT) by 45.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 16,165 shares of the software maker’s stock after selling 13,323 shares during the period. United Asset Strategies Inc.’s holdings in Fortinet were worth $1,321,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Optimist Retirement Group LLC grew its position in Fortinet by 2.5% in the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock worth $398,000 after purchasing an additional 122 shares in the last quarter. PDS Planning Inc increased its stake in Fortinet by 3.1% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock valued at $326,000 after buying an additional 123 shares during the last quarter. GW&K Investment Management LLC lifted its position in shares of Fortinet by 31.4% during the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock worth $41,000 after buying an additional 123 shares in the last quarter. Delta Investment Management LLC lifted its position in shares of Fortinet by 2.4% during the 4th quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock worth $417,000 after buying an additional 125 shares in the last quarter. Finally, Catalyst Capital Advisors LLC boosted its stake in shares of Fortinet by 2.0% in the 4th quarter. Catalyst Capital Advisors LLC now owns 6,459 shares of the software maker’s stock worth $513,000 after buying an additional 128 shares during the last quarter. 83.71% of the stock is owned by institutional investors.

Fortinet Stock Performance

FTNT stock traded down $1.54 during midday trading on Tuesday, reaching $160.81. 2,008,988 shares of the company’s stock traded hands, compared to its average volume of 6,554,908. The company has a 50-day moving average price of $131.84 and a two-hundred day moving average price of $98.86. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $163.57. The firm has a market capitalization of $117.81 billion, a PE ratio of 62.15, a price-to-earnings-growth ratio of 4.28 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. The firm had revenue of $1.85 billion during 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 business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period 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. As a group, equities analysts anticipate that Fortinet, Inc. will post 2.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Mizuho upped their target price on Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, May 7th. Weiss Ratings upgraded Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Stifel Nicolaus set a $85.00 price objective on Fortinet in a research report on Wednesday, March 11th. Citigroup upped their price objective on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, DZ Bank cut Fortinet from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, Fortinet currently has an average rating of “Hold” and an average price target of $107.58.

Insider Buying and Selling

In other news, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at $7,711,717,915.76. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the stock in a transaction dated 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 sale, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 318,387 shares of company stock valued at $43,403,063. Corporate insiders own 17.60% of the company’s stock.

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.