Davidson Capital Management Inc. Sells 12,303 Shares of Fortinet, Inc. $FTNT

Davidson Capital Management Inc. cut its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 20.9% in the third quarter, Holdings Channel.com reports. The firm owned 46,518 shares of the software maker’s stock after selling 12,303 shares during the quarter. Fortinet comprises approximately 1.4% of Davidson Capital Management Inc.’s investment portfolio, making the stock its 11th biggest position. Davidson Capital Management Inc.’s holdings in Fortinet were worth $8,316,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in FTNT. Burk Holdings LLC purchased a new stake in Fortinet in the 2nd quarter worth about $25,000. Dunhill Financial LLC purchased a new position in shares of Fortinet during the second quarter valued at approximately $25,000. Cornerstone Financial Management LLC boosted its position in shares of Fortinet by 102.5% during 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 during the period. Timbuktu Capital Management LLC purchased a new position in shares of Fortinet during the second quarter valued at approximately $31,000. Finally, Elevation Wealth Partners LLC grew 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 buying an additional 75 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

More Fortinet News

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

FTNT opened at $181.91 on Friday. Fortinet, Inc. has a 12-month low of $73.55 and a 12-month high of $197.13. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The business’s fifty day simple moving average is $169.14 and its 200-day simple moving average is $142.66. The company has a market capitalization 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 (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating the consensus estimate 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 for the quarter was up 25.6% on a year-over-year basis. During the same quarter last year, the firm posted $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, equities research analysts anticipate that Fortinet, Inc. will post 3.10 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FTNT. Wells Fargo & Company increased their price target on Fortinet from $135.00 to $160.00 and gave the stock an “underweight” rating in a report on Thursday. BTIG Research raised their price target on Fortinet from $186.00 to $203.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Cantor Fitzgerald restated a “neutral” rating on shares of Fortinet in a report on Monday, August 24th. DZ Bank downgraded Fortinet from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Finally, Robert W. Baird set a $165.00 price objective on Fortinet and gave the company a “neutral” rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-one have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $159.09.

Insiders Place Their Bets

In other Fortinet news, COO John Whittle sold 53,865 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $165.44, for a total transaction of $8,911,425.60. Following the transaction, the chief operating officer owned 96,987 shares of the company’s stock, valued at approximately $16,045,529.28. This trade represents a 35.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly 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 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 have sold a total of 221,303 shares of company stock worth $36,164,034 in the last three months. Corporate insiders own 17.60% of the company’s stock.

Fortinet 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.