Farther Finance Advisors LLC raised its position in Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 35.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,402 shares of the software maker’s stock after acquiring an additional 8,488 shares during the quarter. Farther Finance Advisors LLC’s holdings in Fortinet were worth $5,792,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Fortinet in the 2nd quarter valued at $9,561,650,000. Bank of New York Mellon Corp purchased a new position in Fortinet in the 2nd quarter valued at $1,432,842,000. Legal & General Group Plc purchased a new position in Fortinet during the second quarter worth about $979,062,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Fortinet by 87.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock valued at $788,682,000 after buying an additional 4,500,194 shares during the period. Finally, Bank of America Corp DE acquired a new stake in Fortinet in the second quarter valued at $656,852,000. Institutional investors and hedge funds own 83.71% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on FTNT shares. William Blair reissued a “market perform” rating on shares of Fortinet in a research note on Tuesday, July 21st. Truist Financial set a $183.00 target price on shares of Fortinet and gave the company a “buy” rating in a report on Tuesday, July 21st. Robert W. Baird set a $165.00 price target on Fortinet and gave the stock a “neutral” rating in a research note on Thursday, July 30th. HC Wainwright reissued a “buy” rating on shares of Fortinet in a research note on Thursday, July 30th. Finally, Susquehanna raised their target price on Fortinet from $115.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-one have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $155.37.
Check Out Our Latest Stock Report on FTNT
Insider Activity at Fortinet
In other news, VP Michael Xie sold 3,121 shares of Fortinet stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the sale, the vice president owned 9,918,360 shares of the company’s stock, valued at approximately $1,613,022,886.80. This trade represents a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. Also, COO John Whittle sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $168.74, for a total value of $478,377.90. Following the completion of the sale, the chief operating officer owned 96,987 shares of the company’s stock, valued at approximately $16,365,586.38. This trade represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 221,303 shares of company stock worth $36,164,034 in the last ninety days. 17.60% of the stock is owned by company insiders.
More Fortinet News
Here are the key news stories impacting Fortinet this week:
- Positive Sentiment: Analysts and financial commentators continue to highlight Fortinet as a strong momentum stock. Its recent price performance, favorable earnings trends, and improving investor interest could attract additional momentum-focused buyers. Are You Looking for a Top Momentum Pick? Why Fortinet Is a Great Choice
- Positive Sentiment: Fortinet is being presented as an artificial-intelligence cybersecurity opportunity. Its products can help protect physical AI infrastructure, networks, and cloud applications as businesses increase security spending. Commentators also view its valuation as relatively reasonable compared with some cybersecurity peers. 1 Millionaire-Maker AI Cybersecurity Stock to Buy and Hold
- Positive Sentiment: Comparisons with CrowdStrike and other technology stocks emphasize Fortinet’s strong share-price performance and the potential for further gains if earnings estimates and cybersecurity demand remain favorable. CrowdStrike vs. Fortinet: Which Cybersecurity Stock Is Poised for Higher Highs?
- Neutral Sentiment: Coverage comparing Fortinet with the broader computer and technology sector focuses on relative year-to-date performance rather than a new company-specific catalyst. Are Computer and Technology Stocks Lagging Fortinet This Year?
- Neutral Sentiment: A report described a significant increase in short interest but simultaneously listed short interest at zero shares and a 0.0-day short-interest ratio. That contradictory data appears unreliable and is unlikely to offer a clear trading signal.
- Negative Sentiment: With Fortinet near all-time highs and trading at a premium earnings multiple, the stock may be vulnerable to profit-taking or disappointment if growth slows, valuation concerns increase, or it fails to meet elevated expectations. With Fortinet Stock at All-Time Highs, Here’s What Can Move It Up or Down
Fortinet Trading Up 3.0%
NASDAQ:FTNT opened at $194.75 on Friday. The stock has a market capitalization of $142.89 billion, a PE ratio of 68.57, a price-to-earnings-growth ratio of 3.64 and a beta of 1.03. Fortinet, Inc. has a fifty-two week low of $73.55 and a fifty-two week high of $194.95. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. The business’s 50-day simple moving average is $167.26 and its 200-day simple moving average is $139.22.
Fortinet (NASDAQ:FTNT – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.15. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Sell-side analysts expect that Fortinet, Inc. will post 3.10 earnings per share for the current fiscal year.
About Fortinet
Fortinet, Inc develops and provides cybersecurity products and services for businesses, governments, and service providers. The company’s portfolio is designed to protect networks, endpoints, applications, cloud environments, and operational technology from cyber threats.
Its offerings include FortiGate next-generation firewalls, FortiSwitch secure networking switches, FortiAP wireless access points, FortiClient endpoint security, and FortiSASE secure access service edge solutions. Fortinet also provides centralized management and analytics through products such as FortiManager and FortiAnalyzer, along with security operations, threat intelligence, and other subscription-based services through its FortiGuard portfolio.
Founded in 2000, Fortinet serves customers globally through direct sales, channel partners, and managed security service providers.
Read More
- Five stocks we like better than Fortinet
- 3 Unique ETFs With Strong Momentum for the End of the Year
- 3 Beaten-Down Biotech Stocks With Triple-Digit Upside and Big Catalysts Ahead
- Schneider Just Paid Up for PTC—Is the SaaSpocalypse Overdone?
- Delta Air Lines Faces a Fuel Crisis—But There’s a Silver Lining
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Fortinet Right Now?
Before you consider Fortinet, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Fortinet wasn’t on the list.
While Fortinet currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
MarketBeat just released its list of the 7 hottest IPOs expected to hit Wall Street in 2026. See which companies are preparing to go public and why investors are watching closely.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
