Quantinno Capital Management LP Purchases 12,394 Shares of Fortinet, Inc. $FTNT

Quantinno Capital Management LP boosted its position in Fortinet, Inc. (NASDAQ:FTNT) by 2.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 541,153 shares of the software maker’s stock after buying an additional 12,394 shares during the quarter. Quantinno Capital Management LP owned approximately 0.07% of Fortinet worth $44,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Physician Wealth Advisors Inc. increased its holdings in Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after acquiring an additional 245 shares during the last quarter. Wexford Capital LP bought a new stake in Fortinet in the 3rd quarter valued at about $25,000. Elyxium Wealth LLC purchased a new stake in Fortinet during the fourth quarter valued at about $27,000. Palisade Asset Management LLC purchased a new stake in Fortinet during the third quarter valued at about $28,000. Finally, Ares Financial Consulting LLC bought a new position in Fortinet during the fourth quarter worth about $29,000. 83.71% of the stock is currently owned by institutional investors.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q2 results surpassed estimates. Fortinet reported $2.05 billion in revenue, up 26% year over year and above the $1.89 billion consensus estimate. Adjusted EPS was $0.90 versus expectations of $0.75, while GAAP diluted EPS rose to $0.82 from $0.57 a year earlier. Fortinet Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Product momentum accelerated. Product revenue jumped 52% to $773 million, billings increased 33% to $2.37 billion, and the company generated $1.04 billion in operating cash flow and $966 million in free cash flow. Management cited strong enterprise demand amid rising cybersecurity threats. Fortinet lifts annual revenue forecast on strong cybersecurity demand
• Positive Sentiment: Fortinet raised its 2026 outlook. Full-year revenue guidance increased to $8.02 billion-$8.18 billion, compared with the prior outlook of approximately $8.0 billion-$8.2 billion as reported in the company’s updated guidance, and the company projected adjusted EPS of $3.41-$3.47 versus the $3.08 analyst consensus. Third-quarter revenue guidance of $2.01 billion-$2.10 billion and EPS guidance of $0.83-$0.87 also exceeded consensus estimates. Fortinet Reports Strong Second Quarter 2026 Financial Results
• Neutral Sentiment: Fortinet also expanded its FortiGate G Series with the 1200G and FortiSASE Outpost, supporting its strategy of combining networking, firewall and cloud-delivered security services. Fortinet Expands FortiGate G Series
• Negative Sentiment: Valuation remains a risk after the strong rally: Fortinet trades at a high earnings multiple, and Wells Fargo maintained a Sell rating. In addition, reported insider activity showed executives selling shares without recorded purchases in the past six months, which may temper bullish sentiment.

Analyst Upgrades and Downgrades

FTNT has been the subject of several recent research reports. Stephens set a $115.00 target price on shares of Fortinet and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Royal Bank Of Canada restated a “sector perform” rating and set a $160.00 price target on shares of Fortinet in a research note on Thursday, July 16th. Wells Fargo & Company reiterated an “underweight” rating and issued a $120.00 price objective (up from $70.00) on shares of Fortinet in a research note on Monday, July 20th. BTIG Research lifted their price objective on shares of Fortinet from $150.00 to $186.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Finally, Zacks Research raised shares of Fortinet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-four have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $123.61.

Fortinet Trading Up 2.2%

Shares of FTNT opened at $153.22 on Thursday. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $170.35. The stock has a market cap of $112.26 billion, a PE ratio of 59.16, a P/E/G ratio of 4.08 and a beta of 1.09. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average price is $149.45 and its 200-day moving average price is $108.19.

Fortinet (NASDAQ:FTNT) last issued 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 company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. Fortinet’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the company 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. On average, equities analysts forecast that Fortinet, Inc. will post 2.8 EPS for the current fiscal year.

Insider Activity

In other Fortinet news, COO John Whittle sold 146,015 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the transaction, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. This represents a 60.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the sale, the vice president directly owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. The trade was a 0.04% 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. Insiders sold 318,387 shares of company stock worth $43,403,063 in the last three months. Corporate insiders own 17.60% of the company’s stock.

About Fortinet

Fortinet, Inc (NASDAQ: FTNT) is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co‑founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia‑Pacific.

Fortinet’s product portfolio centers on network security appliances and software, with its FortiGate next‑generation firewalls and the FortiOS operating system forming a core platform.