NewEdge Wealth LLC Has $32.92 Million Stock Holdings in Fortinet, Inc. $FTNT

NewEdge Wealth LLC trimmed its position in Fortinet, Inc. (NASDAQ:FTNT) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 402,789 shares of the software maker’s stock after selling 7,907 shares during the quarter. NewEdge Wealth LLC owned approximately 0.05% of Fortinet worth $32,916,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Expressive Wealth LLC acquired a new stake in shares of Fortinet during the fourth quarter worth $646,000. Trilogy Capital Inc. boosted its holdings in Fortinet by 46.8% during the fourth quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock worth $3,506,000 after buying an additional 14,076 shares during the last quarter. Leonteq Securities AG acquired a new position in shares of Fortinet during the 4th quarter worth about $10,422,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Fortinet in the 4th quarter valued at about $14,638,000. Finally, Thrivent Financial for Lutherans raised its position in shares of Fortinet by 156.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock valued at $31,009,000 after acquiring an additional 238,299 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet was highlighted as one of the better-positioned cybersecurity names to benefit from rising enterprise AI adoption, with demand expected to grow for AI security, identity protection, and Zero Trust solutions. Article Title
• Positive Sentiment: Another note described Fortinet as a GARP candidate, suggesting investors can still find upside in the stock because of its solid growth prospects relative to valuation. Article Title
• Positive Sentiment: Analyst sentiment improved, with Robert W. Baird raising its price target and another report saying a Fortinet analyst is “no longer bearish,” reinforcing confidence in the company’s fundamentals. Article Title
• Positive Sentiment: Fortinet also announced a collaboration with Intel to develop its next-generation Security Processor 6, a sign of continued product innovation and supply-chain diversification. Article Title
• Neutral Sentiment: Broker commentary also warned that cybersecurity valuations remain elevated ahead of earnings, which could limit near-term upside for FTNT despite the company’s strong positioning. Article Title
• Negative Sentiment: Recent market action showed Fortinet trading lower as broader markets moved higher, suggesting some profit-taking or valuation pressure remains in the stock. Article Title

Analysts Set New Price Targets

Several research firms have weighed in on FTNT. BMO Capital Markets increased their target price on shares of Fortinet from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. TD Cowen reaffirmed a “buy” rating and set a $215.00 price objective (up from $160.00) on shares of Fortinet in a research note on Monday, July 13th. Compass Point set a $100.00 target price on Fortinet in a report on Monday, May 4th. JPMorgan Chase & Co. increased their price target on Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Finally, Rosenblatt Securities lifted their price objective on Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $121.10.

Fortinet Price Performance

NASDAQ:FTNT opened at $155.05 on Thursday. The stock has a market capitalization of $113.60 billion, a PE ratio of 59.87, a P/E/G ratio of 4.30 and a beta of 1.09. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $170.35. The firm has a fifty day simple moving average of $146.83 and a 200 day simple moving average of $105.61. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.58 earnings per share. 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, research analysts expect that Fortinet, Inc. will post 2.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fortinet news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction on 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 transaction, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael Xie sold 3,907 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the transaction, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. The trade was a 0.04% 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 have sold a total of 318,387 shares of company stock valued at $43,403,063 over the last 90 days. 17.60% of the stock is currently owned by insiders.

Fortinet Company Profile

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.