5,449 Shares in Fortinet, Inc. $FTNT Acquired by Western Wealth Management LLC

Western Wealth Management LLC acquired a new stake in Fortinet, Inc. (NASDAQ:FTNT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,449 shares of the software maker’s stock, valued at approximately $837,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FTNT. Burk Holdings LLC bought a new stake in Fortinet in the second quarter valued at about $25,000. Dunhill Financial LLC acquired a new position in shares of Fortinet during the 2nd quarter worth about $25,000. Elevation Wealth Partners LLC grew its position in shares of Fortinet by 53.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after buying an additional 75 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in shares of Fortinet in the 2nd quarter valued at about $35,000. Finally, Kilter Group LLC acquired a new stake in shares of Fortinet in the 2nd quarter valued at approximately $41,000. Institutional investors own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, May 7th. Wells Fargo & Company set a $135.00 price target on shares of Fortinet and gave the stock an “underweight” rating in a research report on Thursday, July 30th. Scotiabank reissued a “sector perform” rating and set a $163.00 price target on shares of Fortinet in a research report on Thursday, July 30th. Bank of America reissued a “buy” rating on shares of Fortinet in a report on Monday, July 27th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $190.00 price objective on shares of Fortinet in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $150.91.

Insiders Place Their Bets

In other news, CEO Ken Xie sold 161,482 shares of the business’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 sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at $8,616,486,029.52. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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, VP Michael Xie sold 3,907 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the transaction, the vice president owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. The trade was a 0.04% 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. Over the last ninety days, insiders sold 329,142 shares of company stock valued at $50,731,178. Company insiders own 17.60% of the company’s stock.

Fortinet Stock Performance

Shares of FTNT stock opened at $153.66 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $172.09. The company’s 50 day moving average price is $156.42 and its two-hundred day moving average price is $118.89. The company has a market capitalization of $112.74 billion, a P/E ratio of 54.11, a price-to-earnings-growth ratio of 2.88 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. The business’s quarterly 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. On average, analysts expect that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

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.