HBK Sorce Advisory LLC Purchases New Shares in Fortinet, Inc. $FTNT

HBK Sorce Advisory LLC acquired a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 9,649 shares of the software maker’s stock, valued at approximately $1,584,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of FTNT. Expressive Wealth LLC acquired a new stake in shares of Fortinet in the fourth quarter valued at approximately $646,000. Leonteq Securities AG acquired a new position in Fortinet during the 4th quarter worth $10,422,000. Eurizon Capital SGR S.p.A. acquired a new position in Fortinet during the 4th quarter worth $14,638,000. Thrivent Financial for Lutherans boosted its position in Fortinet by 156.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock valued at $31,009,000 after buying an additional 238,299 shares during the last quarter. Finally, Westerkirk Capital Inc. boosted its position in Fortinet by 41.9% in the 4th quarter. Westerkirk Capital Inc. now owns 52,500 shares of the software maker’s stock valued at $4,169,000 after buying an additional 15,500 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FTNT. Zacks Research upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Evercore set a $165.00 price target on Fortinet in a report on Thursday, July 30th. Weiss Ratings upgraded Fortinet from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 31st. HC Wainwright reiterated a “buy” rating on shares of Fortinet in a research report on Thursday, July 30th. Finally, Robert W. Baird set a $165.00 price objective on Fortinet in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $150.91.

Fortinet Stock Performance

FTNT stock opened at $160.01 on Monday. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $172.09. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The company has a market cap of $117.40 billion, a P/E ratio of 56.34, a price-to-earnings-growth ratio of 3.03 and a beta of 1.07. The business’s fifty day moving average is $155.05 and its 200-day moving average is $115.31.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping 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 return on equity of 191.54% and a net margin of 28.17%.The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the firm 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. Equities research analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Ken Xie sold 161,482 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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, COO John Whittle sold 146,015 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the sale, the chief operating officer owned 94,724 shares in the company, valued at $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 475,157 shares of company stock worth $69,480,964. Insiders own 17.60% of the company’s stock.

Fortinet 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.