Glenview Trust Co Buys New Holdings in Fortinet, Inc. $FTNT

Glenview Trust Co purchased a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,022 shares of the software maker’s stock, valued at approximately $1,540,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Expressive Wealth LLC bought a new stake in shares of Fortinet during the 4th quarter valued at $646,000. Transamerica Financial Advisors LLC acquired a new stake in Fortinet during the second quarter worth about $492,000. Leonteq Securities AG bought a new position in Fortinet in the 4th quarter valued at about $10,422,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Fortinet in the 4th quarter valued at approximately $14,638,000. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Fortinet by 156.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock worth $31,009,000 after acquiring an additional 238,299 shares during the period. Institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FTNT shares. UBS Group reissued a “neutral” rating and issued a $180.00 price objective on shares of Fortinet in a research note on Thursday, July 30th. BTIG Research boosted their price target on Fortinet from $186.00 to $203.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. 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. Truist Financial set a $183.00 target price on Fortinet and gave the company a “buy” rating in a research report on Tuesday, July 21st. Finally, Stifel Nicolaus set a $175.00 target price on Fortinet and gave the stock a “hold” rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $150.91.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet Federal, a wholly owned subsidiary, earned CMMC Level 2 certification after validating 110 NIST SP 800-171 controls. The certification could improve Fortinet’s credibility with U.S. government agencies and defense contractors seeking compliant cybersecurity providers. Fortinet Federal’s New CMMC Level 2 Certification
• Positive Sentiment: Analysts continue to point to platform adoption, artificial-intelligence security products, product expansion and CMMC-related demand as potential growth drivers across enterprise and government markets. Fortinet Stock Surges on Security Platform Momentum
• Positive Sentiment: A new multi-year sponsorship agreement with Stanford Athletics supports Fortinet’s brand visibility, although the financial impact is likely modest compared with its core business. Stanford Athletics and Fortinet Sponsorship
• Neutral Sentiment: Fortinet recently moved above its 20-day moving average, signaling short-term technical momentum. However, technical support can also encourage profit-taking after a large advance. Fortinet Crosses Above Its 20-Day Moving Average
• Negative Sentiment: Valuation is a key overhang. With the stock near its annual high and trading at roughly 58 times earnings, investors may be demanding continued strong execution, leaving limited room for disappointment. Fortinet Valuation Leaves Limited Margin of Safety
• Negative Sentiment: Insider-trading data shows executives made no open-market purchases and reported multiple sales over the past six months. In addition, the reported median analyst price target of $115 is below recent trading levels, reinforcing concerns that expectations may have become excessive.

Fortinet Stock Performance

Shares of FTNT stock opened at $166.00 on Friday. The firm has a market capitalization of $121.80 billion, a price-to-earnings ratio of 58.45, a PEG ratio of 3.28 and a beta of 1.07. 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 business’s 50-day moving average price is $157.68 and its 200-day moving average price is $120.40. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $173.89.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.15. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The firm’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the firm 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. Equities research analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current year.

Insider Activity at Fortinet

In other news, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the transaction, the vice president owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the transaction, the chief executive officer 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 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. Over the last 90 days, insiders sold 329,142 shares of company stock valued at $50,731,178. Corporate insiders own 17.60% of the company’s stock.

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.