6,655 Shares of Fortinet, Inc. $FTNT Bought by Fairvoy Private Wealth LLC

Fairvoy Private Wealth LLC acquired a new position in Fortinet, Inc. (NASDAQ:FTNT) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 6,655 shares of the software maker’s stock, valued at approximately $1,190,000.

Other hedge funds also recently made changes to their positions in the company. Burk Holdings LLC bought a new stake in Fortinet during the second quarter worth approximately $25,000. Dunhill Financial LLC acquired a new position in Fortinet in the second quarter worth approximately $25,000. Cornerstone Financial Management LLC increased its holdings in shares of 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 buying an additional 83 shares in the last quarter. NFSG Corp bought a new position in shares of Fortinet in the third quarter valued at $34,000. Finally, Timbuktu Capital Management LLC bought a new position in shares of Fortinet in the second quarter valued at $31,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Analyst Ratings Changes

FTNT has been the subject of a number of recent research reports. Stephens increased their price objective on Fortinet from $160.00 to $165.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Cantor Fitzgerald restated a “neutral” rating on shares of Fortinet in a report on Monday, August 24th. Daiwa Securities Group boosted their target price on Fortinet from $115.00 to $165.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Wall Street Zen raised Fortinet from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Finally, DZ Bank downgraded Fortinet from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Fortinet presently has an average rating of “Hold” and an average price target of $160.92.

Fortinet Trading Up 1.4%

Shares of Fortinet stock traded up $2.37 during trading on Monday, hitting $171.50. The stock had a trading volume of 5,748,829 shares, compared to its average volume of 5,835,386. The stock has a 50 day simple moving average of $169.33 and a 200 day simple moving average of $143.30. The company has a market capitalization of $125.83 billion, a PE ratio of 60.39, a P/E/G ratio of 3.16 and a beta of 1.03. 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, Inc. has a 1 year low of $73.55 and a 1 year high of $197.13.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, research analysts expect that Fortinet, Inc. will post 3.10 EPS for the current fiscal year.

Insider Buying and Selling

In other Fortinet news, VP Michael Xie sold 3,121 shares of Fortinet 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 transaction, the vice president directly owned 9,918,360 shares in the company, valued at approximately $1,613,022,886.80. The trade was a 0.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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, CEO Ken Xie sold 161,482 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This trade represents a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last 90 days, insiders sold 221,303 shares of company stock valued at $36,164,034. Company insiders own 17.60% of the company’s stock.

Fortinet Profile

Fortinet, Inc develops cybersecurity products and services designed to protect networks, endpoints, applications, cloud environments and operational technology systems. The company’s portfolio includes next-generation firewalls, secure networking products, endpoint security, web application security, email security, identity and access solutions, and security information and event management tools.

Its product offerings include FortiGate network security appliances and cloud-based firewalls, along with FortiSwitch, FortiAP and FortiExtender solutions for secure connectivity.