Sax Wealth Advisors LLC Makes New $534,000 Investment in Fortinet, Inc. $FTNT

Sax Wealth Advisors LLC acquired a new position in Fortinet, Inc. (NASDAQ:FTNT) during the third quarter, HoldingsChannel reports. The fund acquired 2,988 shares of the software maker’s stock, valued at approximately $534,000.

Other large investors also recently made changes to their positions in the company. Puff Wealth Management LLC increased its stake in shares of Fortinet by 3.4% in the third quarter. Puff Wealth Management LLC now owns 1,660 shares of the software maker’s stock valued at $297,000 after buying an additional 54 shares in the last quarter. Elevation Wealth Partners LLC lifted its position in Fortinet by 53.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after buying an additional 75 shares in the last quarter. Sigma Planning Corp lifted its position in Fortinet by 1.0% during the 2nd quarter. Sigma Planning Corp now owns 7,927 shares of the software maker’s stock worth $1,218,000 after buying an additional 80 shares in the last quarter. Parrish Capital LLC lifted its position in Fortinet by 1.3% during the 3rd quarter. Parrish Capital LLC now owns 6,374 shares of the software maker’s stock worth $1,139,000 after buying an additional 82 shares in the last quarter. Finally, Cornerstone Financial Management LLC lifted its position in Fortinet by 102.5% during the 2nd quarter. Cornerstone Financial Management LLC now owns 164 shares of the software maker’s stock worth $25,000 after buying an additional 83 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet and Atos expanded their longstanding relationship into a global cybersecurity framework for hybrid- and multi-cloud environments. The arrangement combines Fortinet’s security products with Atos’ managed-security services and consulting, potentially broadening Fortinet’s enterprise reach and recurring services opportunity. Fortinet Expands Global Cybersecurity Framework
• Positive Sentiment: Recent commentary highlighted Fortinet’s SASE growth, rising services revenue and comparatively lower valuation versus Cloudflare, supporting the view that the company remains a long-term cybersecurity growth candidate. NET vs. FTNT
• Neutral Sentiment: Investor attention is also focused on upcoming earnings. Fortinet’s most recent reported quarter showed revenue growth and earnings above analyst expectations, although the stock’s elevated valuation leaves the market sensitive to any guidance or results that fall short of expectations. Fortinet Shares Jump with Earnings on Horizon
• Negative Sentiment: Wells Fargo raised its Fortinet price target but maintained an “underweight” rating; the new target remains below the stock’s current level, signaling concern that expectations may be too high.
• Negative Sentiment: Reports that OpenAI could acquire a cybersecurity startup pressured major cybersecurity stocks, including Fortinet. The possibility of a well-funded new competitor is raising concerns about future pricing, innovation and market-share dynamics across the sector. OpenAI Cybersecurity Deal Impacts Sector

Fortinet Price Performance

Shares of FTNT stock opened at $181.91 on Friday. The stock has a 50-day moving average price of $169.14 and a 200 day moving average price of $142.66. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The firm has a market cap of $133.47 billion, a price-to-earnings ratio of 64.05, a PEG ratio of 3.44 and a beta of 1.03. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $197.13.

Fortinet (NASDAQ:FTNT) last released its 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 company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The company’s revenue was up 25.6% compared to the same quarter last year. During the same period in the prior 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. Research analysts expect that Fortinet, Inc. will post 3.10 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $160.00 price objective (up from $100.00) on shares of Fortinet in a research report on Thursday, July 30th. Roth Capital upped their target price on shares of Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Stifel Nicolaus set a $175.00 target price on shares of Fortinet and gave the stock a “hold” rating in a research report on Thursday, July 30th. Weiss Ratings raised shares of Fortinet from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, Stephens boosted their price objective on shares of Fortinet from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-one have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, Fortinet has an average rating of “Hold” and a consensus price target of $159.09.

Insider Buying and Selling

In other Fortinet news, VP Michael Xie sold 3,121 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.63, for a total value of $507,568.23. Following the transaction, the vice president directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. The trade was 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. Insiders sold a total of 221,303 shares of company stock valued at $36,164,034 over the last ninety days. Insiders own 17.60% of the company’s stock.

Fortinet Company Profile

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.