Segall Bryant & Hamill LLC Acquires Shares of 11,206 Fortinet, Inc. $FTNT

Segall Bryant & Hamill LLC bought a new position in Fortinet, Inc. (NASDAQ:FTNT) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,206 shares of the software maker’s stock, valued at approximately $935,000.

Several other institutional investors have also added to or reduced their stakes in FTNT. Brighton Jones LLC increased its position in shares of Fortinet by 2.2% in the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after acquiring an additional 221 shares during the period. Bison Wealth LLC purchased a new position in shares of Fortinet during the fourth quarter valued at approximately $585,000. HUB Investment Partners LLC boosted its holdings in Fortinet by 29.1% in the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after acquiring an additional 1,193 shares in the last quarter. Diversify Advisory Services LLC purchased a new position in shares of Fortinet during the second quarter valued at about $1,136,000. Finally, Quantinno Capital Management LP raised its stake in Fortinet by 27.4% in the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock worth $15,328,000 after buying an additional 31,202 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Strong earnings and raised guidance support the growth story. Fortinet reported second-quarter revenue of approximately $2.05 billion, up 25.6% year over year, and adjusted earnings of $0.90 per share versus the $0.75 analyst consensus. Management raised full-year 2026 revenue guidance to $8.02 billion-$8.18 billion and forecast third-quarter revenue of $2.01 billion-$2.10 billion. Fortinet guidance and AI firewall article
• Positive Sentiment: AI-focused security products and rising cyber threats provide potential catalysts. Fortinet launched the FortiGate 1200G series with FortiSASE Outpost for high-performance, AI-focused and sovereignty-sensitive hybrid environments. Separately, reported AI-powered “vishing” attacks targeting major financial firms underscore the growing need for cybersecurity services. AI-powered vishing cyberattacks article
• Positive Sentiment: Quantitative screens remain favorable. Zacks added FTNT to its Rank #1 “Strong Buy” and momentum lists, while other coverage identified Fortinet as a growth-at-a-reasonable-price candidate because of its above-average financial growth. Zacks momentum stocks article
• Neutral Sentiment: Insider sales were limited and appear administrative. CEO Ken Xie sold 161,482 shares and VP Michael Xie sold 3,121 shares under pre-arranged Rule 10b5-1 plans to cover tax withholding on vested equity awards. The transactions reduced their holdings by only 0.30% and 0.03%, respectively.
• Negative Sentiment: Valuation and analyst caution may be encouraging investors to lock in gains. FTNT trades at a high earnings multiple after a substantial run, while its average analyst rating remains “Hold” with a consensus price target below recent trading levels. Deutsche Bank and Baird maintained Hold ratings, and Baird cited margin and balance-sheet risks with a $165 target.

Analyst Ratings Changes

A number of research analysts have recently commented on FTNT shares. Arete Research set a $104.00 target price on Fortinet and gave the company a “buy” rating in a research note on Monday, April 27th. Weiss Ratings raised Fortinet from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 31st. Wells Fargo & Company set a $135.00 target price on shares of Fortinet and gave the company an “underweight” rating in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $160.00 price target on shares of Fortinet in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada set a $185.00 price objective on shares of Fortinet and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $150.91.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction that occurred on 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible 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, VP Michael Xie sold 3,121 shares of the stock in a transaction 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 transaction, the vice president directly owned 9,918,360 shares in the company, valued at $1,613,022,886.80. The trade was a 0.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last quarter, insiders have sold 475,157 shares of company stock worth $69,480,964. 17.60% of the stock is owned by insiders.

Fortinet Price Performance

NASDAQ FTNT opened at $164.26 on Thursday. Fortinet, Inc. has a one year low of $70.12 and a one year high of $172.09. The stock has a 50-day moving average of $152.50 and a 200 day moving average of $111.17. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. The company has a market capitalization of $120.52 billion, a price-to-earnings ratio of 57.84, a PEG ratio of 3.19 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the business earned $0.64 EPS. The business’s revenue for the quarter 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. On average, sell-side analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current 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.