Fortinet, Inc. $FTNT Stock Sold by Inspire Investing LLC

Inspire Investing LLC lessened its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 7.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,351 shares of the software maker’s stock after selling 11,585 shares during the quarter. Fortinet accounts for 1.0% of Inspire Investing LLC’s investment portfolio, making the stock its 9th largest position. Inspire Investing LLC’s holdings in Fortinet were worth $24,553,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Fortinet in the 2nd quarter worth about $9,561,650,000. First Trust Advisors LP boosted its stake in Fortinet by 45.5% in the first quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock valued at $940,284,000 after acquiring an additional 3,598,487 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Fortinet by 87.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock valued at $788,682,000 after acquiring an additional 4,500,194 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Fortinet during the 2nd quarter valued at approximately $1,432,842,000. Finally, Legal & General Group Plc bought a new position in shares of Fortinet during the 2nd quarter valued at approximately $979,062,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fortinet

In related news, VP Michael Xie sold 3,121 shares of the business’s stock in a transaction 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 sale, the vice president directly owned 9,918,360 shares in the company, valued at approximately $1,613,022,886.80. The trade was a 0.03% decrease in their position. The transaction was disclosed in a document filed 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, CEO Ken Xie sold 161,482 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the sale, 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 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. Insiders sold 221,303 shares of company stock valued at $36,164,034 over the last three months. Company insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

FTNT has been the subject of several research analyst reports. HC Wainwright restated a “buy” rating on shares of Fortinet in a research note on Thursday, July 30th. Stifel Nicolaus set a $175.00 price objective on Fortinet and gave the company a “hold” rating in a research note on Thursday, July 30th. BMO Capital Markets increased their price objective on Fortinet from $170.00 to $185.00 and gave the company a “market perform” rating in a report on Thursday, July 30th. Roth Capital raised their target price on Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Finally, HSBC increased their price target on Fortinet from $102.00 to $107.00 in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $162.36.

Fortinet Stock Performance

Shares of FTNT stock opened at $179.99 on Friday. The stock has a market capitalization of $132.06 billion, a P/E ratio of 63.38, a PEG ratio of 3.23 and a beta of 1.03. 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 firm’s 50 day moving average is $170.47 and its 200 day moving average is $146.08. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $197.13.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the firm earned $0.64 EPS. Fortinet’s revenue for the quarter 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. On average, sell-side analysts anticipate that Fortinet, Inc. will post 3.10 earnings per share for the current year.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Jefferies expects Fortinet’s third-quarter product revenue growth to reach roughly 50% year over year, well above the 31% consensus forecast. The broker cited favorable industry checks, price increases and accelerated firewall replacement activity. Fortinet growth outlook for 2027 becomes key test for investors, says Jefferies
• Positive Sentiment: Investors are looking for another strong quarterly result, with analysts expecting double-digit year-over-year EPS growth. Fortinet’s ability to sustain product growth into fiscal 2027 will be the central focus of the earnings outlook. What to Expect From Fortinet’s Next Quarterly Earnings Report
• Positive Sentiment: Recent bullish positioning, including a previously raised $200 price target, reflects expectations for continued cybersecurity spending and AI-related demand. Fortinet’s hardware-software combination was also highlighted as a potential long-term competitive advantage. Fortinet versus Cisco and Palo Alto Networks
• Neutral Sentiment: Jefferies maintained a “hold” rating, emphasizing that forward guidance for 2027 matters more than simply beating near-term estimates. Fortinet trades at a premium valuation, increasing the importance of durable growth and strong cash generation.
• Neutral Sentiment: Fortinet released coordinated security-hardening updates for multiple products, which may have improved sentiment amid broader cybersecurity concerns, although the updates are not a major direct earnings catalyst.
• Negative Sentiment: JPMorgan raised its price target from $118 to $140 but retained an “underweight” rating, implying substantial downside from recent trading levels. JPMorgan Fortinet rating
• Negative Sentiment: Arete Research reportedly downgraded Fortinet to “sell,” adding to concerns that the stock’s elevated valuation already discounts much of its expected growth.
• Negative Sentiment: Reported insider activity shows executives made no open-market purchases and sold shares during the past six months, a potentially cautionary signal, though such sales may reflect scheduled diversification.

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.