31,785 Shares in Fortinet, Inc. $FTNT Purchased by Western Financial Corp CA

Western Financial Corp CA purchased a new position in Fortinet, Inc. (NASDAQ:FTNT) during the third quarter, Holdings Channel reports. The firm purchased 31,785 shares of the software maker’s stock, valued at approximately $5,682,000. Fortinet accounts for 1.9% of Western Financial Corp CA’s portfolio, making the stock its 9th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Burk Holdings LLC acquired a new stake in Fortinet in the second quarter valued at about $25,000. Dunhill Financial LLC acquired a new position in Fortinet in the 2nd quarter worth about $25,000. Cornerstone Financial Management LLC raised its position in Fortinet by 102.5% in the second quarter. Cornerstone Financial Management LLC now owns 164 shares of the software maker’s stock valued at $25,000 after purchasing an additional 83 shares during the last quarter. Timbuktu Capital Management LLC bought a new position in Fortinet in the second quarter valued at about $31,000. Finally, Elevation Wealth Partners LLC boosted its stake in shares of Fortinet by 53.6% during the second quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock valued at $33,000 after purchasing an additional 75 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Atos expanded its partnership with Fortinet from a country-level arrangement to a global engagement, supporting Fortinet’s strategy of securing hybrid- and multicloud environments and potentially broadening enterprise demand. Atos expands partnership with Fortinet
• Positive Sentiment: Analyst commentary remains favorable on Fortinet’s growth prospects, citing strong SASE expansion, rising service revenue and a valuation viewed as more attractive than Cloudflare’s. Barclays also raised its price target from $190 to $210. NET versus FTNT analysis
• Positive Sentiment: Fortinet’s AI-enabled security products and its visibility at GovWare 2026 are reinforcing the long-term growth narrative. Recent earnings also exceeded expectations, with revenue up 25.6% year over year according to the supplied company background.
• Neutral Sentiment: Fortinet is scheduled to report its next results on October 28. Investors may remain cautious ahead of the release, particularly because the stock has recently traded near a 52-week high and expectations are elevated. Fortinet schedules October 28 results
• Negative Sentiment: A report that OpenAI may acquire a cybersecurity startup has pressured major cybersecurity stocks, including Fortinet. The possibility of a well-funded AI company entering the market raises concerns about future competition and sector valuations. Why Fortinet stock slumped
• Negative Sentiment: Some analysts argue that Fortinet’s stock has risen faster than its underlying value and could be substantially overvalued after its strong earnings performance. That concern is particularly relevant given its elevated earnings multiple, increasing the risk of profit-taking. Fortinet valuation downgrade

Insider Activity at Fortinet

In other Fortinet news, VP Michael Xie sold 3,121 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were 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 represents a 0.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $168.74, for a total transaction of $478,377.90. Following the sale, the chief operating officer directly owned 96,987 shares of the company’s stock, valued at $16,365,586.38. This represents a 2.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 221,303 shares of company stock worth $36,164,034 over the last ninety days. Insiders own 17.60% of the company’s stock.

Fortinet Trading Down 3.5%

FTNT traded down $6.71 during midday trading on Wednesday, hitting $184.05. 3,950,249 shares of the company were exchanged, compared to its average volume of 5,846,908. The firm has a market capitalization of $135.04 billion, a P/E ratio of 64.81, a P/E/G ratio of 3.60 and a beta of 1.03. Fortinet, Inc. has a 1-year low of $73.55 and a 1-year high of $197.13. The firm’s 50 day moving average price is $168.31 and its 200-day moving average price is $141.21. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%. The business’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $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. As a group, equities analysts forecast that Fortinet, Inc. will post 3.10 EPS for the current fiscal year.

Analyst Ratings Changes

FTNT has been the topic of several research reports. Capital One Financial boosted their price target on Fortinet from $150.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Stephens raised their price objective on shares of Fortinet from $160.00 to $165.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Bank of America reiterated a “buy” rating on shares of Fortinet in a report on Monday, July 27th. Mizuho set a $125.00 target price on shares of Fortinet and gave the stock an “underperform” rating in a research report on Wednesday, July 15th. Finally, Barclays set a $210.00 target price on shares of Fortinet and gave the stock an “equal weight” rating in a report on Monday. Two 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $156.80.

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.