Corient Private Wealth LP Buys Shares of 211,837 Fortinet, Inc. $FTNT

Corient Private Wealth LP bought a new stake in Fortinet, Inc. (NASDAQ:FTNT) during the second quarter, Holdings Channel reports. The institutional investor bought 211,837 shares of the software maker’s stock, valued at approximately $32,542,000.

Other institutional investors have also made changes to their positions in the company. Expressive Wealth LLC purchased a new stake in shares of Fortinet during the fourth quarter worth $646,000. Leonteq Securities AG purchased a new position in Fortinet in the fourth quarter valued at about $10,422,000. Eurizon Capital SGR S.p.A. acquired a new position in Fortinet in the 4th quarter worth about $14,638,000. Thrivent Financial for Lutherans increased its position in Fortinet by 156.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock worth $31,009,000 after purchasing an additional 238,299 shares during the last quarter. Finally, Westerkirk Capital Inc. raised its stake in shares of Fortinet by 41.9% during the 4th quarter. Westerkirk Capital Inc. now owns 52,500 shares of the software maker’s stock worth $4,169,000 after purchasing an additional 15,500 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Stock Up 9.7%

Shares of FTNT stock opened at $172.78 on Friday. The stock’s 50 day simple moving average is $157.25 and its 200 day simple moving average is $120.08. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $173.89. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. The company has a market capitalization of $126.77 billion, a price-to-earnings ratio of 60.84, a PEG ratio of 2.99 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. The company’s revenue was up 25.6% on a year-over-year basis. 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, research analysts predict that Fortinet, Inc. will post 3.05 EPS for the current year.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Cybersecurity-sector rally lifted sentiment. Fortinet appears to be benefiting from strong quarterly results and upbeat outlooks from major cybersecurity peers, creating a positive read-through for comparable companies. The company’s own recent results showed 25.6% year-over-year revenue growth to $2.05 billion and earnings above analyst expectations. Why Fortinet Stock Is Up Today
• Positive Sentiment: CMMC Level 2 certification strengthens Fortinet’s federal positioning. Fortinet Federal, a wholly owned subsidiary, received certification after an independent assessment validated 110 NIST SP 800-171 security requirements for protecting Controlled Unclassified Information. The milestone may improve Fortinet’s ability to compete for U.S. government and defense-related contracts. Fortinet Federal Achieves CMMC Level 2 Certification
• Positive Sentiment: Operational momentum remains strong. Fortinet reported better-than-expected quarterly earnings and revenue, with product revenue growth and higher full-year guidance reinforcing the company’s growth narrative. This provides a fundamental backdrop for the recent share-price strength.
• Neutral Sentiment: Valuation is becoming a concern. An investment analysis highlighted Fortinet’s strong platform and cash generation but argued that the elevated valuation leaves limited margin of safety. With the shares near their 52-week high, additional gains may require continued execution and upward revisions to expectations. Fortinet Strong Platform and Cash Generation, but Valuation Leaves Limited Margin of Safety
• Negative Sentiment: Insider selling and mixed analyst views could limit upside. Reported insider activity showed executives selling shares without recorded open-market purchases during the past six months. Several analysts also maintain cautious ratings, and the reported median price target is below the current trading range, signaling potential valuation pressure.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FTNT. William Blair reissued a “market perform” rating on shares of Fortinet in a research note on Tuesday, July 21st. JPMorgan Chase & Co. lifted their target price on shares of Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, May 7th. Weiss Ratings downgraded shares of Fortinet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, August 20th. Zacks Research upgraded shares of Fortinet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, Barclays set a $190.00 price target on shares of Fortinet and gave the company an “equal weight” rating in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, Fortinet presently has an average rating of “Hold” and a consensus price target of $150.91.

Insiders Place Their Bets

In related news, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the transaction, the vice president directly owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 329,142 shares of company stock worth $50,731,178 over the last quarter. 17.60% of the stock is currently owned by company insiders.

About Fortinet

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.