Fortinet, Inc. $FTNT Position Cut by GEM Asset Management LLC

GEM Asset Management LLC decreased its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 66.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,195 shares of the software maker’s stock after selling 4,300 shares during the quarter. GEM Asset Management LLC’s holdings in Fortinet were worth $392,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Foster Group Inc. bought a new stake in Fortinet in the 3rd quarter valued at about $212,000. B. Riley Wealth Advisors Inc. acquired a new position in Fortinet during the 3rd quarter valued at about $696,000. Krilogy Financial LLC grew its position in Fortinet by 42.9% in the 3rd quarter. Krilogy Financial LLC now owns 29,226 shares of the software maker’s stock worth $5,639,000 after purchasing an additional 8,781 shares during the last quarter. RHS Financial LLC bought a new position in Fortinet in the 3rd quarter worth about $603,000. Finally, Lineweaver Wealth Advisors LLC acquired a new stake in shares of Fortinet in the third quarter valued at approximately $210,000. Institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

FTNT has been the topic of several analyst reports. Wall Street Zen upgraded shares of Fortinet from a “hold” rating to a “buy” rating in a research note on Saturday. Piper Sandler reiterated a “neutral” rating and set a $175.00 price objective (up from $110.00) on shares of Fortinet in a research report on Thursday, July 30th. Evercore set a $165.00 price objective on Fortinet in a research report on Thursday, July 30th. Scotiabank reissued a “sector perform” rating and issued a $163.00 price objective (up from $110.00) on shares of Fortinet in a report on Thursday, July 30th. Finally, Roth Capital raised their target price on Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, Fortinet presently has an average rating of “Hold” and an average price target of $156.80.

Fortinet Stock Performance

FTNT stock opened at $190.76 on Wednesday. The company has a market capitalization of $139.96 billion, a P/E ratio of 67.17, a PEG ratio of 3.60 and a beta of 1.03. The company has a 50-day simple moving average of $168.31 and a 200 day simple moving average of $141.21. Fortinet, Inc. has a fifty-two week low of $73.55 and a fifty-two week high of $197.13. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32.

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, beating analysts’ consensus estimates of $0.75 by $0.15. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. Fortinet’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the firm 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. Sell-side analysts predict that Fortinet, Inc. will post 3.10 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO John Whittle sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $168.74, for a total value of $478,377.90. Following the completion of the sale, the chief operating officer directly owned 96,987 shares of the company’s stock, valued at approximately $16,365,586.38. This represents a 2.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,121 shares of the company’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 sale, the vice president directly owned 9,918,360 shares of the company’s stock, valued at approximately $1,613,022,886.80. This represents a 0.03% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 221,303 shares of company stock worth $36,164,034. 17.60% of the stock is owned by corporate insiders.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Barclays raised its price target for Fortinet from $190 to $210, signaling greater confidence in the company’s growth outlook and AI-related cybersecurity opportunity. Barclays raises target for Fortinet stock
• Positive Sentiment: Fortinet’s participation at GovWare 2026 in Singapore highlighted its AI-enabled security and networking products, potentially strengthening its position in Asia and the growing AI-security market. Fortinet AI security push and GovWare 2026
• Positive Sentiment: Recent coverage emphasized Fortinet’s record margins, repeated earnings beats, positive estimate revisions and raised 2026 guidance. These factors support the company’s profitability narrative despite broader cost pressures. Fortinet strong margin profile
• Neutral Sentiment: Fortinet scheduled its next results for October 28. The report could become the next major catalyst, particularly because investors will be looking for confirmation of the company’s guidance and AI-security demand. Fortinet schedules October 28 results
• Negative Sentiment: Analysts and commentary increasingly characterize FTNT as expensive after its substantial 2026 advance. One analysis estimated the shares could be about 54% overvalued, increasing the risk of consolidation or profit-taking even after better-than-expected earnings. Fortinet could be overvalued
• Negative Sentiment: Potential headwinds include rising chip costs and unfavorable product-mix changes, which could pressure Fortinet’s unusually strong margins. The stock’s high valuation makes it particularly sensitive to any earnings or guidance disappointment. Fortinet valuation downgrade

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.