RFG Advisory LLC Reduces Stock Holdings in Fortinet, Inc. $FTNT

RFG Advisory LLC lowered its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 28.3% during the third quarter, Holdings Channel reports. The fund owned 19,048 shares of the software maker’s stock after selling 7,525 shares during the quarter. RFG Advisory LLC’s holdings in Fortinet were worth $1,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FTNT. LSV Asset Management acquired a new position in Fortinet during the second quarter valued at $25,000. Financial Consulate Inc. purchased a new position in shares of Fortinet during the 3rd quarter valued at about $25,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Fortinet during the 3rd quarter valued at about $25,000. Quaker Wealth Management LLC lifted its holdings in shares of Fortinet by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock valued at $38,000 after buying an additional 726 shares during the period. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Fortinet in the second quarter worth about $40,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Trading Up 2.7%

Shares of FTNT stock opened at $87.82 on Thursday. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $114.82. The company has a market cap of $65.31 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 2.95 and a beta of 1.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09. The stock has a 50 day simple moving average of $80.60 and a 200-day simple moving average of $82.34.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.74 by $0.07. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 EPS. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. On average, equities research analysts expect that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on FTNT. Oppenheimer reaffirmed a “market perform” rating on shares of Fortinet in a report on Friday, January 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $87.00 price objective on shares of Fortinet in a research report on Monday, November 24th. Evercore ISI set a $80.00 price objective on shares of Fortinet in a research note on Friday, February 6th. UBS Group reaffirmed a “neutral” rating and set a $90.00 target price on shares of Fortinet in a report on Friday, February 6th. Finally, TD Cowen raised shares of Fortinet from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $89.07.

Insider Transactions at Fortinet

In related news, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $27,935,690.52. Following the sale, the vice president directly owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. The trade was a 3.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ken Xie sold 175,737 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $14,308,506.54. Following the sale, the chief executive officer owned 51,396,385 shares of the company’s stock, valued at approximately $4,184,693,666.70. This trade represents a 0.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 17.20% of the stock is owned by insiders.

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.