Meeder Advisory Services Inc. Invests $2.86 Million in Fortinet, Inc. $FTNT

Meeder Advisory Services Inc. purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the 2nd quarter, Holdings Channel reports. The firm purchased 18,589 shares of the software maker’s stock, valued at approximately $2,856,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FTNT. Expressive Wealth LLC bought a new stake in Fortinet in the 4th quarter valued at $646,000. Leonteq Securities AG bought a new position in Fortinet during the 4th quarter worth about $10,422,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Fortinet in the 4th quarter valued at about $14,638,000. Thrivent Financial for Lutherans lifted its holdings in shares of Fortinet by 156.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock valued at $31,009,000 after purchasing an additional 238,299 shares in the last quarter. Finally, Westerkirk Capital Inc. boosted its position in shares of Fortinet by 41.9% during the fourth quarter. Westerkirk Capital Inc. now owns 52,500 shares of the software maker’s stock worth $4,169,000 after buying an additional 15,500 shares during the period. 83.71% of the stock is currently owned by institutional investors.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Virtue AI acquisition strengthens AI security offering: Fortinet acquired Virtue AI to add continuous validation, monitoring and runtime protection for AI agents across their lifecycle. The technology is intended to expand Fortinet’s AI-Native Security Fabric as companies move enterprise AI applications into production. Fortinet Advances Continuous AI Protection with the Acquisition of Virtue AI
• Positive Sentiment: AI acquisitions support cloud-platform ambitions: Coverage highlights Fortinet’s broader push to build a cloud-based security platform through AI-related acquisitions. Investors may view the strategy as a way to accelerate growth in AI infrastructure, agent security and cloud security. Fortinet, IBD Stock of the Day, Steps Up AI Acquisitions to Build Cloud Platform
• Positive Sentiment: Analyst comparisons remain favorable: A Zacks analysis gives Fortinet an edge over CrowdStrike, citing SASE momentum, steadier execution and a relatively lower valuation. Other commentary points to projected revenue growth of roughly 19% this year and continued earnings growth, while Fortinet was also identified as a potential earnings-beat candidate. CRWD vs. FTNT: Which Cybersecurity Stock Should You Buy Right Now?
• Neutral Sentiment: Valuation and expectations are elevated: Fortinet has gained nearly 100% in 2026 and trades at a high earnings multiple, leaving the stock sensitive to any slowdown in growth or disappointment from future AI investments. Recent quarterly results exceeded estimates, providing support, but investors will need evidence that the acquisition strategy converts into sustainable revenue growth.

Fortinet Stock Performance

NASDAQ FTNT opened at $158.01 on Wednesday. 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’s fifty day moving average price is $155.70 and its two-hundred day moving average price is $116.37. Fortinet, Inc. has a 1 year low of $73.55 and a 1 year high of $172.09. The firm has a market capitalization of $115.93 billion, a P/E ratio of 55.64, a price-to-earnings-growth ratio of 3.03 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The company’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. 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, research analysts anticipate that Fortinet, Inc. will post 3.05 EPS for the current year.

Wall Street Analysts Forecast Growth

FTNT has been the topic of a number of recent research reports. Zacks Research raised Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $190.00 target price on shares of Fortinet in a research report on Thursday, July 30th. Royal Bank Of Canada set a $185.00 price target on shares of Fortinet and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Wolfe Research set a $175.00 price objective on shares of Fortinet in a research note on Thursday, July 30th. Finally, Compass Point set a $100.00 price objective on Fortinet in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eighteen have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $150.91.

Insider Buying and Selling at Fortinet

In other Fortinet news, VP Michael Xie sold 3,121 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total value of $507,568.23. Following the sale, the vice president owned 9,918,360 shares in the company, valued at $1,613,022,886.80. This represents a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the transaction, the chief operating officer owned 94,724 shares of the company’s stock, valued at $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 475,157 shares of company stock worth $69,480,964 over the last 90 days. Company 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.