Fox Hill Wealth Management Acquires Shares of 15,034 Fortinet, Inc. $FTNT

Fox Hill Wealth Management bought a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) during the second quarter, HoldingsChannel reports. The firm bought 15,034 shares of the software maker’s stock, valued at approximately $2,310,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Fortinet during the 2nd quarter valued at about $9,561,650,000. State Street Corp grew its holdings in Fortinet by 1.6% in the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after purchasing an additional 477,397 shares during the period. Norges Bank bought a new position in shares of Fortinet during the fourth quarter valued at approximately $1,152,917,000. Bank of New York Mellon Corp increased its stake in shares of Fortinet by 6.6% during the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock valued at $1,151,810,000 after purchasing an additional 893,190 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Fortinet by 45.5% during the first quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock valued at $940,284,000 after purchasing an additional 3,598,487 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FTNT shares. TD Cowen reissued a “buy” rating and issued a $215.00 price target (up from $160.00) on shares of Fortinet in a research report on Monday, July 13th. Rosenblatt Securities lifted their price objective on Fortinet from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $160.00 target price on shares of Fortinet in a report on Thursday, July 30th. Citigroup increased their target price on Fortinet from $165.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Finally, Wall Street Zen raised Fortinet from a “hold” rating to a “buy” rating in a research report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, Fortinet has an average rating of “Hold” and an average target price of $150.91.

Fortinet Price Performance

NASDAQ FTNT opened at $166.00 on Friday. Fortinet, Inc. has a one year low of $73.55 and a one year high of $173.89. The stock has a 50-day moving average of $157.68 and a 200 day moving average of $120.40. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. The company has a market capitalization of $121.80 billion, a price-to-earnings ratio of 58.45, a PEG ratio of 3.28 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.15. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $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. On average, sell-side analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current year.

Insider Buying and Selling

In related news, CEO Ken Xie sold 161,482 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the sale, the vice president directly owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 329,142 shares of company stock worth $50,731,178. 17.60% of the stock is owned by insiders.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet Federal, a wholly owned subsidiary, earned CMMC Level 2 certification after validating 110 NIST SP 800-171 controls. The certification could improve Fortinet’s credibility with U.S. government agencies and defense contractors seeking compliant cybersecurity providers. Fortinet Federal’s New CMMC Level 2 Certification
• Positive Sentiment: Analysts continue to point to platform adoption, artificial-intelligence security products, product expansion and CMMC-related demand as potential growth drivers across enterprise and government markets. Fortinet Stock Surges on Security Platform Momentum
• Positive Sentiment: A new multi-year sponsorship agreement with Stanford Athletics supports Fortinet’s brand visibility, although the financial impact is likely modest compared with its core business. Stanford Athletics and Fortinet Sponsorship
• Neutral Sentiment: Fortinet recently moved above its 20-day moving average, signaling short-term technical momentum. However, technical support can also encourage profit-taking after a large advance. Fortinet Crosses Above Its 20-Day Moving Average
• Negative Sentiment: Valuation is a key overhang. With the stock near its annual high and trading at roughly 58 times earnings, investors may be demanding continued strong execution, leaving limited room for disappointment. Fortinet Valuation Leaves Limited Margin of Safety
• Negative Sentiment: Insider-trading data shows executives made no open-market purchases and reported multiple sales over the past six months. In addition, the reported median analyst price target of $115 is below recent trading levels, reinforcing concerns that expectations may have become excessive.

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.