Fortinet, Inc. $FTNT Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC reduced its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 91.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,376 shares of the software maker’s stock after selling 47,217 shares during the period. NewEdge Advisors LLC’s holdings in Fortinet were worth $358,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of FTNT. Physician Wealth Advisors Inc. grew its stake in shares of Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after purchasing an additional 245 shares during the last quarter. Wexford Capital LP acquired a new stake in Fortinet during the third quarter valued at approximately $25,000. Elyxium Wealth LLC bought a new stake in Fortinet during the fourth quarter worth approximately $27,000. Palisade Asset Management LLC bought a new stake in Fortinet during the third quarter worth approximately $28,000. Finally, Ares Financial Consulting LLC acquired a new position in Fortinet in the fourth quarter worth approximately $29,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on FTNT. TD Cowen reaffirmed a “buy” rating and issued a $215.00 price target (up from $160.00) on shares of Fortinet in a report on Monday, July 13th. BTIG Research raised their price objective on Fortinet from $186.00 to $203.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. UBS Group restated a “neutral” rating and issued a $180.00 target price on shares of Fortinet in a report on Thursday, July 30th. Wall Street Zen raised Fortinet from a “hold” rating to a “buy” rating in a research report on Monday, August 3rd. Finally, Susquehanna upped their target price on Fortinet from $115.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Two equities research 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 given a Sell rating to the stock. According to MarketBeat.com, Fortinet has an average rating of “Hold” and a consensus target price of $150.91.

Fortinet Price Performance

FTNT opened at $153.51 on Monday. The stock has a fifty day moving average price of $156.24 and a 200 day moving average price of $117.87. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. Fortinet, Inc. has a 1 year low of $73.55 and a 1 year high of $172.09. The stock has a market cap of $112.63 billion, a price-to-earnings ratio of 54.05, a PEG ratio of 2.91 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the firm posted $0.64 EPS. The business’s revenue was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 161,482 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $8,616,486,029.52. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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, VP Michael Xie sold 3,121 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.63, for a total transaction of $507,568.23. Following the transaction, the vice president directly owned 9,918,360 shares in the company, valued at approximately $1,613,022,886.80. The trade was a 0.03% decrease in their position. 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 three months, insiders sold 329,142 shares of company stock valued at $50,731,178. 17.60% of the stock is currently owned by company insiders.

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.