Key Points
- Fortinet COO John Whittle sold 146,015 shares on May 21 at an average price of $128.41, generating about $18.75 million. After the sale, he still held 94,724 shares, a reduction of 60.65% in his position.
- Fortinet shares rose 3.5% and opened at $133.93, near their 52-week high of $134.19. The company now has a market capitalization of $98.12 billion.
- Fortinet reported strong quarterly results, with EPS of $0.82 versus estimates of $0.62 and revenue of $1.85 billion, up 20.1% year over year. The company also raised guidance for Q2 2026 and FY 2026.
Fortinet, Inc. (NASDAQ:FTNT - Get Free Report) COO John Whittle sold 146,015 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the transaction, the chief operating officer owned 94,724 shares in the company, valued at $12,163,508.84. The trade was a 60.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Fortinet Trading Up 3.5%
Shares of Fortinet stock opened at $133.93 on Friday. 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 12-month low of $70.12 and a 12-month high of $134.19. The firm has a market capitalization of $98.12 billion, a price-to-earnings ratio of 51.71, a PEG ratio of 3.56 and a beta of 0.92. The firm's 50 day simple moving average is $92.07 and its two-hundred day simple moving average is $84.92.
Fortinet (NASDAQ:FTNT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business posted $0.58 EPS. Fortinet's revenue for the quarter was up 20.1% compared to the same quarter last year. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Analysts predict that Fortinet, Inc. will post 2.77 EPS for the current year.
Institutional Trading of Fortinet
A number of hedge funds have recently added to or reduced their stakes in the company. Florida Financial Advisors LLC boosted its holdings in Fortinet by 3.0% during the first quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker's stock worth $309,000 after buying an additional 109 shares in the last quarter. Optimist Retirement Group LLC boosted its holdings in Fortinet by 2.5% during the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker's stock worth $398,000 after buying an additional 122 shares in the last quarter. PDS Planning Inc boosted its holdings in Fortinet by 3.1% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the software maker's stock worth $326,000 after buying an additional 123 shares in the last quarter. GW&K Investment Management LLC boosted its holdings in Fortinet by 31.4% during the fourth 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. Finally, Delta Investment Management LLC boosted its holdings in Fortinet by 2.4% during the fourth 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. 83.71% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
FTNT has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of Fortinet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 14th. Scotiabank upped their price objective on shares of Fortinet from $85.00 to $110.00 and gave the company a "sector perform" rating in a report on Thursday, May 7th. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $70.00 price objective (up from $64.00) on shares of Fortinet in a report on Thursday, May 7th. Stifel Nicolaus set a $85.00 price objective on shares of Fortinet in a report on Wednesday, March 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Fortinet from $73.00 to $75.00 and gave the company an "underweight" rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $101.83.
Read Our Latest Stock Analysis on Fortinet
Fortinet Company Profile
(
Get Free Report)
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.
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