40,044 Shares in Fortinet, Inc. $FTNT Bought by Oxbow Advisors LLC

Oxbow Advisors LLC bought a new stake in Fortinet, Inc. (NASDAQ:FTNT) during the second quarter, Holdings Channel reports. The fund bought 40,044 shares of the software maker’s stock, valued at approximately $6,152,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC acquired a new stake in Fortinet during the second quarter worth about $17,506,000. Alamar Capital Management LLC acquired a new position in shares of Fortinet in the 2nd quarter valued at about $3,975,000. Meeder Advisory Services Inc. acquired a new position in shares of Fortinet in the 2nd quarter valued at about $2,856,000. Meeder Asset Management Inc. purchased a new stake in shares of Fortinet during the 2nd quarter worth about $6,041,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of Fortinet during the 2nd quarter worth about $3,593,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Stock Up 1.4%

Shares of NASDAQ:FTNT opened at $158.01 on Wednesday. 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, Inc. has a 52-week low of $73.55 and a 52-week high of $172.09. The company has a 50 day moving average of $155.70 and a two-hundred day moving average of $116.37. The company has a market capitalization of $115.93 billion, a price-to-earnings ratio of 55.64, a price-to-earnings-growth ratio of 3.03 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data 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. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the firm posted $0.64 earnings per share. The business’s quarterly revenue 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. As a group, analysts forecast that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fortinet news, VP Michael Xie sold 3,121 shares of the company’s stock in a transaction dated 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 directly owned 9,918,360 shares of the company’s stock, valued at $1,613,022,886.80. This represents a 0.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This represents a 0.30% 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. Insiders have sold 475,157 shares of company stock valued at $69,480,964 in the last quarter. Company insiders own 17.60% of the company’s stock.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Virtue AI acquisition strengthens AI security offering: Fortinet acquired Virtue AI to add continuous validation, monitoring and runtime protection for AI agents across their lifecycle. The technology is intended to expand Fortinet’s AI-Native Security Fabric as companies move enterprise AI applications into production. Fortinet Advances Continuous AI Protection with the Acquisition of Virtue AI
• Positive Sentiment: AI acquisitions support cloud-platform ambitions: Coverage highlights Fortinet’s broader push to build a cloud-based security platform through AI-related acquisitions. Investors may view the strategy as a way to accelerate growth in AI infrastructure, agent security and cloud security. Fortinet, IBD Stock of the Day, Steps Up AI Acquisitions to Build Cloud Platform
• Positive Sentiment: Analyst comparisons remain favorable: A Zacks analysis gives Fortinet an edge over CrowdStrike, citing SASE momentum, steadier execution and a relatively lower valuation. Other commentary points to projected revenue growth of roughly 19% this year and continued earnings growth, while Fortinet was also identified as a potential earnings-beat candidate. CRWD vs. FTNT: Which Cybersecurity Stock Should You Buy Right Now?
• Neutral Sentiment: Valuation and expectations are elevated: Fortinet has gained nearly 100% in 2026 and trades at a high earnings multiple, leaving the stock sensitive to any slowdown in growth or disappointment from future AI investments. Recent quarterly results exceeded estimates, providing support, but investors will need evidence that the acquisition strategy converts into sustainable revenue growth.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FTNT shares. Wolfe Research set a $175.00 price target on shares of Fortinet in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $160.00 target price on shares of Fortinet in a research note on Thursday, July 30th. Wall Street Zen upgraded shares of Fortinet from a “hold” rating to a “buy” rating in a report on Monday, August 3rd. Rosenblatt Securities increased their price target on Fortinet from $185.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Evercore set a $165.00 price objective on Fortinet in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $150.91.

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.