5,905 Shares of Fortinet, Inc. $FTNT Bought by MinichMacGregor Wealth Management LLC

MinichMacGregor Wealth Management LLC bought a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,905 shares of the software maker’s stock, valued at approximately $1,056,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Transamerica Financial Advisors LLC acquired a new stake in shares of Fortinet in the second quarter valued at about $492,000. QRG Capital Management Inc. boosted its holdings in shares of Fortinet by 21.4% during the 1st quarter. QRG Capital Management Inc. now owns 75,491 shares of the software maker’s stock worth $6,169,000 after purchasing an additional 13,294 shares during the last quarter. Wealth Enhancement Trust Services Inc. grew its position in shares of Fortinet by 83.8% in the third quarter. Wealth Enhancement Trust Services Inc. now owns 22,326 shares of the software maker’s stock valued at $3,991,000 after purchasing an additional 10,180 shares in the last quarter. Vista Investment Partners LLC lifted its position in Fortinet by 53.1% during the second quarter. Vista Investment Partners LLC now owns 49,058 shares of the software maker’s stock worth $7,537,000 after buying an additional 17,018 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Fortinet by 35.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 32,402 shares of the software maker’s stock valued at $5,792,000 after buying an additional 8,488 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Expanded Atos partnership supports enterprise growth. Atos is expanding its longstanding relationship with Fortinet into a global engagement covering hybrid- and multi-cloud cybersecurity. The broader deployment opportunity could improve Fortinet’s reach among large international customers. Atos expands partnership with Fortinet
• Positive Sentiment: Analysts continue to highlight Fortinet’s growth and profitability. Coverage points to strong SASE growth, rising services revenue, record margins, AI-security initiatives and a comparatively lower valuation than Cloudflare. Barclays also raised its price target from $190 to $210, supporting the bullish narrative. NET vs. FTNT comparison Barclays raises Fortinet target
• Positive Sentiment: Upcoming results are a near-term catalyst. Fortinet has scheduled its next earnings report for October 28. Investors will look for confirmation of recent execution, including the latest quarter’s revenue growth, earnings beat and full-year 2026 EPS guidance of $3.41-$3.47. Fortinet schedules October 28 results
• Neutral Sentiment: Fortinet’s AI-security positioning and exposure at GovWare 2026 are increasing investor attention, although the event itself does not provide a new financial forecast or contract announcement. Fortinet AI security and GovWare coverage
• Negative Sentiment: Sector sentiment weakened after reports that OpenAI plans to acquire a cybersecurity startup. The news raised concerns about increasing competition and contributed to declines across major cybersecurity stocks, including Fortinet. OpenAI cybersecurity deal affects sector
• Negative Sentiment: Valuation and profit-taking remain concerns. Commentators argue that FTNT’s sharp rally has moved the stock ahead of its underlying value; one analysis estimates substantial overvaluation and another downgraded the shares. Rising chip costs and product-mix pressure could also challenge margins. Fortinet valuation downgrade

Analysts Set New Price Targets

FTNT has been the subject of a number of recent analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $190.00 price target (up from $116.00) on shares of Fortinet in a report on Thursday, July 30th. Jefferies Financial Group boosted their price target on shares of Fortinet from $165.00 to $190.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. William Blair reissued a “market perform” rating on shares of Fortinet in a research report on Tuesday, July 21st. Barclays set a $210.00 price objective on Fortinet and gave the company an “equal weight” rating in a research note on Monday. Finally, JPMorgan Chase & Co. raised their target price on Fortinet from $100.00 to $118.00 and gave the company an “underweight” rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-one have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $156.80.

Fortinet Stock Down 2.8%

Shares of NASDAQ:FTNT traded down $5.32 on Wednesday, hitting $185.44. 1,316,062 shares of the company’s stock were exchanged, compared to its average volume of 5,833,107. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. Fortinet, Inc. has a 1-year low of $73.55 and a 1-year high of $197.13. The company has a market capitalization of $136.06 billion, a PE ratio of 65.33, a P/E/G ratio of 3.60 and a beta of 1.03. The firm’s 50-day moving average is $168.31 and its 200 day moving average is $141.21.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results 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 return on equity of 191.54% and a net margin of 28.17%. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the company posted $0.64 earnings per share. The firm’s quarterly 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. Sell-side analysts predict that Fortinet, Inc. will post 3.10 EPS for the current year.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 3,121 shares of Fortinet stock in a transaction that occurred 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 approximately $1,613,022,886.80. This trade represents a 0.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $8,616,486,029.52. This represents a 0.30% 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 have sold a total of 221,303 shares of company stock valued at $36,164,034 over the last quarter. Company insiders own 17.60% of the company’s stock.

Fortinet Company Profile

Fortinet, Inc develops and provides cybersecurity products and services for businesses, governments, and service providers. The company’s portfolio is designed to protect networks, endpoints, applications, cloud environments, and operational technology from cyber threats.

Its offerings include FortiGate next-generation firewalls, FortiSwitch secure networking switches, FortiAP wireless access points, FortiClient endpoint security, and FortiSASE secure access service edge solutions. Fortinet also provides centralized management and analytics through products such as FortiManager and FortiAnalyzer, along with security operations, threat intelligence, and other subscription-based services through its FortiGuard portfolio.

Founded in 2000, Fortinet serves customers globally through direct sales, channel partners, and managed security service providers.