Sequoia Financial Advisors LLC Has $1.89 Million Stock Holdings in Fortinet, Inc. $FTNT

Sequoia Financial Advisors LLC raised its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 50.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,836 shares of the software maker’s stock after purchasing an additional 7,973 shares during the period. Sequoia Financial Advisors LLC’s holdings in Fortinet were worth $1,893,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Fortinet in the third quarter valued at about $25,000. Pinnacle Holdings LLC acquired a new stake in shares of Fortinet in the third quarter valued at about $25,000. Ameriflex Group Inc. acquired a new stake in shares of Fortinet in the third quarter valued at about $25,000. Wexford Capital LP acquired a new stake in shares of Fortinet in the third quarter valued at about $25,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Fortinet in the third quarter valued at about $28,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Buying and Selling

In other Fortinet news, VP Michael Xie sold 2,478 shares of Fortinet stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $88.89, for a total transaction of $220,269.42. Following the sale, the vice president directly owned 9,927,517 shares of the company’s stock, valued at approximately $882,456,986.13. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 5,355 shares of Fortinet stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.90, for a total value of $476,059.50. Following the sale, the chief executive officer directly owned 52,978,004 shares in the company, valued at $4,709,744,555.60. The trade was a 0.01% 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. 17.60% of the stock is currently owned by insiders.

Fortinet Stock Up 1.2%

FTNT opened at $115.44 on Tuesday. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $115.49. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. The firm’s fifty day moving average price is $84.43 and its two-hundred day moving average price is $82.40. The company has a market capitalization of $84.51 billion, a P/E ratio of 44.57, a P/E/G ratio of 3.29 and a beta of 0.92.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company earned $0.58 earnings per share. The business’s revenue was up 20.1% compared to the same quarter last year. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. On average, analysts anticipate that Fortinet, Inc. will post 2.64 EPS for the current year.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: BTIG highlighted Fortinet as a potential winner from rising post-quantum cryptography spending, which could open a new growth opportunity for cybersecurity vendors. BTIG Names Fortinet and Cloudflare as Potential Winners from Rising Post-Quantum Spending
• Positive Sentiment: Multiple articles described Fortinet as a growth stock and part of the AI/security investment theme, which may be improving sentiment around future demand. Fortinet (FTNT) is a Top-Ranked Growth Stock: Should You Buy?
• Positive Sentiment: Fortinet was also described as hitting a fresh 52-week high, signaling strong momentum and investor confidence in the stock’s fundamentals. Fortinet, Inc. (FTNT) Hits Fresh High: Is There Still Room to Run?
• Positive Sentiment: Analyst note flow was constructive, including a reported price-target increase and a bullish forecast from Citigroup, adding support to the recent move. Fortinet (NASDAQ:FTNT) Price Target Raised to $110.00
• Neutral Sentiment: One short-interest update showed no meaningful change in reported short interest, so it does not appear to be a major driver of the stock’s move.

Analyst Ratings Changes

FTNT has been the topic of several research analyst reports. TD Cowen reaffirmed a “buy” rating and issued a $125.00 price target (up from $100.00) on shares of Fortinet in a research report on Thursday. Cantor Fitzgerald restated a “neutral” rating and issued a $87.00 price objective on shares of Fortinet in a research note on Tuesday, April 21st. Stifel Nicolaus set a $85.00 price objective on shares of Fortinet in a research note on Wednesday, March 11th. Oppenheimer reissued a “market perform” rating on shares of Fortinet in a research report on Friday, January 23rd. Finally, UBS Group lifted their target price on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-three have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $100.45.

Fortinet Company Profile

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.