Fortinet, Inc. $FTNT Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lowered its stake in Fortinet, Inc. (NASDAQ:FTNT) by 2.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 315,086 shares of the software maker’s stock after selling 6,892 shares during the quarter. HighTower Advisors LLC’s holdings in Fortinet were worth $48,404,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. raised its position in Fortinet by 408.3% during the first 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 period. Dunhill Financial LLC acquired a new stake in shares of Fortinet in the second quarter valued at about $25,000. Burk Holdings LLC purchased a new stake in shares of Fortinet during the second quarter worth about $25,000. Wexford Capital LP acquired a new position in shares of Fortinet during the 3rd quarter worth about $25,000. Finally, Elyxium Wealth LLC acquired a new position in shares of Fortinet during the 4th quarter worth about $27,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at approximately $8,616,486,029.52. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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, 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 value of $507,568.23. Following the transaction, the vice president directly owned 9,918,360 shares in the company, valued at $1,613,022,886.80. This trade represents a 0.03% 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. Company insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on FTNT. Wolfe Research set a $175.00 price objective on Fortinet in a report on Thursday, July 30th. William Blair restated a “market perform” rating on shares of Fortinet in a research report on Tuesday, July 21st. Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 price target (up from $110.00) on shares of Fortinet in a research note on Thursday, July 30th. The Goldman Sachs Group reiterated a “buy” rating and set a $190.00 price target on shares of Fortinet in a research report on Thursday, July 30th. Finally, Evercore set a $165.00 price objective on Fortinet in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, Fortinet presently has a consensus rating of “Hold” and a consensus target price of $150.91.

Fortinet Price Performance

FTNT stock opened at $156.29 on Tuesday. The company has a market cap of $114.67 billion, a price-to-earnings ratio of 55.03, a PEG ratio of 2.96 and a beta of 1.06. 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 12 month low of $73.55 and a 12 month high of $173.89. The firm has a 50-day moving average of $158.90 and a two-hundred day moving average of $123.78.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.15. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. 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.

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.