IFP Advisors Inc Raises Stake in Fortinet, Inc. $FTNT

Posted by Donald Scott on May 21st, 2026

IFP Advisors Inc boosted its stake in Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,601 shares of the software maker’s stock after acquiring an additional 3,998 shares during the quarter. IFP Advisors Inc’s holdings in Fortinet were worth $6,162,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FTNT. Vanguard Group Inc. boosted its holdings in Fortinet by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after acquiring an additional 2,894,355 shares during the period. Van ECK Associates Corp increased its position in Fortinet by 62.1% in the third quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker’s stock worth $467,868,000 after buying an additional 2,132,109 shares during the period. First Trust Advisors LP increased its position in Fortinet by 30.9% in the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock worth $636,962,000 after buying an additional 1,790,033 shares during the period. Invesco Ltd. increased its position in Fortinet by 17.0% in the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after buying an additional 1,568,337 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Fortinet by 23.1% in the third quarter. Ameriprise Financial Inc. now owns 5,160,348 shares of the software maker’s stock worth $430,082,000 after buying an additional 969,899 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Activity

In related news, VP Michael Xie sold 2,478 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $88.89, for a total transaction of $220,269.42. Following the completion of the transaction, the vice president owned 9,927,517 shares of the company’s stock, valued at $882,456,986.13. This trade represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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, CEO Ken Xie sold 5,355 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $4,709,744,555.60. This represents a 0.01% 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. Company insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on FTNT shares. Susquehanna increased their target price on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 target price on shares of Fortinet in a research report on Thursday, May 7th. UBS Group increased their price target on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. TD Cowen reissued a “buy” rating and issued a $125.00 price target (up from $100.00) on shares of Fortinet in a research note on Thursday, May 7th. Finally, Weiss Ratings cut Fortinet from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-four have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $101.83.

Get Our Latest Analysis on Fortinet

Fortinet Trading Up 1.8%

Shares of FTNT stock opened at $130.00 on Thursday. The stock has a 50-day simple moving average of $90.16 and a 200 day simple moving average of $84.27. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $130.36. The stock has a market capitalization of $95.24 billion, a P/E ratio of 50.19, a P/E/G ratio of 3.51 and a beta of 0.92. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT – Get Free Report) last announced its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the business posted $0.58 earnings per share. The company’s quarterly revenue was up 20.1% on a year-over-year basis. 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, sell-side analysts expect that Fortinet, Inc. will post 2.77 earnings per share for the current fiscal year.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

Positive Sentiment: Fortinet’s latest earnings call was described as upbeat, with AI-led demand helping lift the company’s guidance and reinforcing the view that security spending remains strong. Fortinet Rides AI-Led Surge to Lift Guidance
Positive Sentiment: Analysts and market commentary highlighted Fortinet as a strong momentum name, with AI and SASE demand supporting billings, margins, and estimate revisions. Here’s Why Fortinet (FTNT) is a Strong Momentum Stock
Positive Sentiment: Additional coverage argued Fortinet looks like the better cybersecurity buy versus peers, citing accelerating AI-driven security demand and improving fundamentals. Zscaler vs. Fortinet: Which Cybersecurity Stock Is the Better Buy?
Neutral Sentiment: Fortinet also presented at J.P. Morgan’s Technology, Media and Communications Conference, which kept investor attention on management’s outlook but did not introduce a clearly new catalyst. Fortinet, Inc. (FTNT) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript
Negative Sentiment: DZ Bank downgraded Fortinet from Buy to Hold and set a $125 price target, suggesting some upside may be limited after the recent run-up in the stock. Fortinet downgrade news

About Fortinet

(Free Report)

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.