Insider Selling: Fortinet (NASDAQ:FTNT) COO Sells 146,015 Shares of Stock

by · The Cerbat Gem

Fortinet, Inc. (NASDAQ:FTNT – Get Free Report) COO John Whittle sold 146,015 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief operating officer owned 94,724 shares of the company’s stock, valued at $12,163,508.84. This trade represents a 60.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Fortinet Price Performance

Fortinet stock traded up $4.47 during mid-day trading on Friday, reaching $133.93. The company had a trading volume of 5,817,473 shares, compared to its average volume of 6,529,245. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $134.19. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. The company has a market capitalization of $98.12 billion, a P/E ratio of 51.71, a P/E/G ratio of 3.58 and a beta of 0.92. The stock’s 50-day simple moving average is $91.06 and its 200-day simple moving average is $84.58.

Fortinet (NASDAQ:FTNT – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.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 previous year, the company earned $0.58 EPS. The company’s quarterly revenue was up 20.1% on a year-over-year basis. 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, equities 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 bought and sold shares of FTNT. Florida Financial Advisors LLC lifted its stake in shares of Fortinet by 3.0% during the 1st quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock worth $309,000 after purchasing an additional 109 shares during the period. Optimist Retirement Group LLC lifted its position 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 during the period. PDS Planning Inc boosted 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 worth $326,000 after buying an additional 123 shares during the last quarter. GW&K Investment Management LLC grew its holdings in Fortinet by 31.4% in the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock valued at $41,000 after buying an additional 123 shares during the period. Finally, Delta Investment Management LLC grew its holdings in Fortinet by 2.4% in the 4th quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock valued at $417,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on FTNT shares. JPMorgan Chase & Co. boosted their price objective on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, May 7th. Rosenblatt Securities lifted 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. Stephens set a $115.00 target price on Fortinet and gave the company an “equal weight” rating in a report on Thursday, May 7th. DZ Bank cut Fortinet from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a report on Tuesday. Finally, Freedom Capital downgraded Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Fortinet has a consensus rating of “Hold” and a consensus price target of $101.83.

Check Out Our Latest Report on FTNT

About Fortinet

(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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