3,873 Fortinet, Inc. $FTNT Shares Bought by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC increased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 17.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,719 shares of the software maker’s stock after acquiring an additional 3,873 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Fortinet were worth $4,598,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of FTNT. Physician Wealth Advisors Inc. increased its position in shares of Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after purchasing an additional 245 shares during the last quarter. Dunhill Financial LLC bought a new stake in shares of Fortinet during the 2nd quarter worth $25,000. Burk Holdings LLC bought a new stake in shares of Fortinet during the 2nd quarter worth $25,000. Cornerstone Financial Management LLC boosted its holdings in shares of Fortinet by 102.5% in 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 during the last quarter. Finally, Maseco LLP purchased a new position in shares of Fortinet in the 1st quarter worth about $29,000. 83.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on FTNT. Susquehanna increased their price target on shares of Fortinet from $115.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Zacks Research raised shares of Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Fortinet in a research note on Monday, August 24th. Piper Sandler reissued a “neutral” rating and set a $175.00 target price (up from $110.00) on shares of Fortinet in a research report on Thursday, July 30th. Finally, Truist Financial set a $200.00 target price on shares of Fortinet and gave the company a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $161.39.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 161,482 shares of the company’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 sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This represents a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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, VP Michael Xie sold 3,121 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of 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. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 221,303 shares of company stock worth $36,164,034. 17.60% of the stock is owned by corporate insiders.

Fortinet Trading Down 0.3%

Shares of FTNT opened at $170.93 on Wednesday. The business has a 50-day moving average of $169.65 and a 200 day moving average of $144.56. Fortinet, Inc. has a fifty-two week low of $73.55 and a fifty-two week high of $197.13. The firm has a market cap of $125.41 billion, a P/E ratio of 60.19, a price-to-earnings-growth ratio of 3.20 and a beta of 1.03. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data 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 business 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 firm 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. As a group, research analysts forecast that Fortinet, Inc. will post 3.10 EPS for the current year.

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.