Key Points
- Fortinet VP Michael Xie sold 3,907 shares on June 3 at an average price of $146.44, generating about $572,141. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and Xie still owns more than 9.9 million shares.
- Fortinet recently reported stronger-than-expected quarterly results, with EPS of $0.82 versus the $0.62 estimate and revenue of $1.85 billion versus $1.73 billion expected. Revenue rose 20.1% year over year, and the company issued upbeat Q2 and full-year 2026 guidance.
- The stock has surged near its 52-week high, opening at $146.48 versus a year-low of $70.12 and a high of $149.03. Despite recent gains, Wall Street’s average rating remains “Hold,” with an average target price of $102.69.
Fortinet, Inc. (NASDAQ:FTNT - Get Free Report) VP Michael Xie sold 3,907 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Michael Xie also recently made the following trade(s):
- On Monday, May 4th, Michael Xie sold 2,478 shares of Fortinet stock. The shares were sold at an average price of $88.89, for a total value of $220,269.42.
Fortinet Price Performance
Shares of NASDAQ:FTNT opened at $146.48 on Thursday. The business's fifty day moving average price is $100.87 and its two-hundred day moving average price is $88.03. The stock has a market cap of $107.32 billion, a PE ratio of 56.56, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. 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 one year low of $70.12 and a one year high of $149.03.
Fortinet (NASDAQ:FTNT - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same period last year, the company earned $0.58 EPS. The firm'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. On average, analysts forecast that Fortinet, Inc. will post 2.77 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the company. Compass Point set a $100.00 price objective on Fortinet in a report on Monday, May 4th. Wells Fargo & Company reissued an "underweight" rating and issued a $70.00 target price (up from $64.00) on shares of Fortinet in a research report on Thursday, May 7th. Morgan Stanley reissued an "underweight" rating and issued a $80.00 target price on shares of Fortinet in a research report on Thursday, May 7th. Rosenblatt Securities raised their target price on shares of Fortinet from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $87.00 target price on shares of Fortinet in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $102.69.
Get Our Latest Research Report on Fortinet
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of FTNT. Vanguard Group Inc. lifted its stake in shares of 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 purchasing an additional 2,894,355 shares in the last quarter. State Street Corp lifted its stake in shares of Fortinet by 1.6% during the third quarter. State Street Corp now owns 29,660,558 shares of the software maker's stock worth $2,493,860,000 after purchasing an additional 477,397 shares in the last quarter. Norges Bank acquired a new position in shares of Fortinet during the fourth quarter worth about $1,152,917,000. Bank of New York Mellon Corp lifted its stake in shares of Fortinet by 6.6% during the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker's stock worth $1,151,810,000 after purchasing an additional 893,190 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Fortinet by 45.5% during the first quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker's stock worth $940,284,000 after purchasing an additional 3,598,487 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.
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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