Fortinet, Inc. $FTNT Shares Sold by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC reduced its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 69.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,423 shares of the software maker’s stock after selling 5,591 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Fortinet were worth $372,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in FTNT. Brighton Jones LLC increased its position in shares of Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after purchasing an additional 221 shares in the last quarter. Bison Wealth LLC purchased a new position in Fortinet in the 4th quarter valued at $585,000. HUB Investment Partners LLC lifted its holdings in Fortinet by 29.1% in the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after purchasing an additional 1,193 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in Fortinet during the 2nd quarter worth $1,136,000. Finally, Quantinno Capital Management LP boosted its stake in Fortinet by 27.4% during the 2nd quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock worth $15,328,000 after purchasing an additional 31,202 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Transactions at Fortinet

In other news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael Xie sold 3,121 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.63, for a total value of $507,568.23. Following the completion of the transaction, the vice president owned 9,918,360 shares in the company, valued at $1,613,022,886.80. This 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. Insiders sold 475,157 shares of company stock worth $69,480,964 in the last 90 days. Insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company set a $135.00 target price on shares of Fortinet and gave the stock an “underweight” rating in a report on Thursday, July 30th. Wolfe Research set a $175.00 price target on shares of Fortinet in a research note on Thursday, July 30th. HSBC lowered shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price target on the stock. in a research report on Monday, June 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $160.00 price objective on shares of Fortinet in a report on Thursday, July 30th. Finally, UBS Group reissued a “neutral” rating and issued a $180.00 target price on shares of Fortinet in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and an average price target of $150.91.

Fortinet Stock Performance

Shares of FTNT stock opened at $160.01 on Monday. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $172.09. The company’s 50-day moving average price is $155.05 and its 200-day moving average price is $115.31. The stock has a market cap of $117.40 billion, a price-to-earnings ratio of 56.34, a PEG ratio of 3.03 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (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 firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the business earned $0.64 earnings per share. Fortinet’s revenue was up 25.6% compared to the same quarter last year. 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, equities analysts predict that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Fortinet Company Profile

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.