Fortinet, Inc. $FTNT Stock Position Decreased by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC trimmed its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 22.9% in the 3rd quarter, Holdings Channel reports. The firm owned 44,762 shares of the software maker’s stock after selling 13,281 shares during the period. Insight Wealth Strategies LLC’s holdings in Fortinet were worth $8,002,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 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. grew its stake in Fortinet by 21.4% during the 1st quarter. QRG Capital Management Inc. now owns 75,491 shares of the software maker’s stock valued at $6,169,000 after acquiring an additional 13,294 shares in the last quarter. Vista Investment Partners LLC raised its holdings in Fortinet by 53.1% in the 2nd quarter. Vista Investment Partners LLC now owns 49,058 shares of the software maker’s stock valued at $7,537,000 after acquiring an additional 17,018 shares during the last quarter. Wealth Enhancement Trust Services Inc. raised its holdings in Fortinet by 83.8% in the 3rd quarter. Wealth Enhancement Trust Services Inc. now owns 22,326 shares of the software maker’s stock valued at $3,991,000 after acquiring an additional 10,180 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. lifted its stake in Fortinet by 2.2% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 340,939 shares of the software maker’s stock worth $27,074,000 after purchasing an additional 7,385 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Activity at Fortinet

In other Fortinet news, COO John Whittle sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $168.74, for a total value of $478,377.90. Following the sale, the chief operating officer owned 96,987 shares of the company’s stock, valued at $16,365,586.38. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of the firm’s 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 transaction, the chief executive officer 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. 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. In the last quarter, insiders sold 221,303 shares of company stock worth $36,164,034. 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 FTNT shares. Citigroup upped their price target on Fortinet from $165.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Robert W. Baird set a $165.00 price objective on Fortinet in a research report on Thursday, July 30th. BMO Capital Markets upped their target price on Fortinet from $170.00 to $185.00 and gave the company a “market perform” rating in a report on Thursday, July 30th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Fortinet in a research note on Monday, August 24th. Finally, Rosenblatt Securities lifted their price target on Fortinet from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $152.79.

Fortinet Trading Up 2.5%

FTNT traded up $4.70 on Friday, hitting $193.80. The company had a trading volume of 720,038 shares, compared to its average volume of 5,882,877. The company’s fifty day moving average price is $166.61 and its 200 day moving average price is $138.83. Fortinet, Inc. has a 1 year low of $73.55 and a 1 year high of $193.97. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The firm has a market cap of $142.20 billion, a P/E ratio of 68.25, a PEG ratio of 3.53 and a beta of 1.03.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period last year, the business earned $0.64 earnings per share. 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 expect that Fortinet, Inc. will post 3.1 earnings per share for the current year.

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.