14,000 Shares in Fortinet, Inc. $FTNT Bought by WealthCare Asset Management LLC

WealthCare Asset Management LLC acquired a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 14,000 shares of the software maker’s stock, valued at approximately $2,503,000. Fortinet accounts for about 2.2% of WealthCare Asset Management LLC’s holdings, making the stock its 15th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Transamerica Financial Advisors LLC acquired a new position in shares of Fortinet during the second quarter worth about $492,000. Wealth Enhancement Trust Services Inc. grew its stake in shares of Fortinet by 83.8% in the third quarter. Wealth Enhancement Trust Services Inc. now owns 22,326 shares of the software maker’s stock valued at $3,991,000 after buying an additional 10,180 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of Fortinet by 21.4% in the first quarter. QRG Capital Management Inc. now owns 75,491 shares of the software maker’s stock valued at $6,169,000 after buying an additional 13,294 shares in the last quarter. Vista Investment Partners LLC raised its holdings in shares of Fortinet by 53.1% during the 2nd quarter. Vista Investment Partners LLC now owns 49,058 shares of the software maker’s stock valued at $7,537,000 after buying an additional 17,018 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in shares of Fortinet by 35.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 32,402 shares of the software maker’s stock valued at $5,792,000 after buying an additional 8,488 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Activity

In other news, COO John Whittle sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $168.74, for a total value of $478,377.90. Following the completion of the sale, the chief operating officer directly owned 96,987 shares in the company, valued at approximately $16,365,586.38. The trade was a 2.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total transaction 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. This trade represents a 0.30% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 221,303 shares of company stock worth $36,164,034. 17.60% of the stock is currently owned by insiders.

Fortinet Price Performance

FTNT opened at $183.33 on Tuesday. The company has a market capitalization of $134.51 billion, a P/E ratio of 64.55, a PEG ratio of 3.36 and a beta of 1.03. The company has a 50-day moving average of $171.01 and a 200-day moving average of $126.69. 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 1-year low of $73.55 and a 1-year high of $197.13.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results 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 the consensus estimate of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period last 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 analysts expect that Fortinet, Inc. will post 3.10 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FTNT has been the subject of a number of analyst reports. Royal Bank Of Canada upped their price target on Fortinet from $185.00 to $205.00 and gave the stock a “sector perform” rating in a report on Monday, October 12th. Wall Street Zen upgraded shares of Fortinet from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Wells Fargo & Company lifted their price objective on shares of Fortinet from $135.00 to $160.00 and gave the company an “underweight” rating in a research note on Thursday, October 15th. The Goldman Sachs Group reissued a “buy” rating and set a $190.00 target price (up from $116.00) on shares of Fortinet in a research report on Thursday, July 30th. Finally, Susquehanna upped their price objective on shares of Fortinet from $115.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, Fortinet currently has a consensus rating of “Hold” and a consensus target price of $162.36.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet announced the FortiGuard Inline AI Security Service, a cloud-delivered offering that provides AI-specific inspection and guardrails for FortiGate firewalls. The product strengthens Fortinet’s positioning in the rapidly growing AI-security market and could support additional recurring revenue. Fortinet Expands AI Security with the FortiGuard Inline AI Security Service
• Positive Sentiment: Analyst support has improved, including a JPMorgan price-target increase and a recently reported analyst upgrade. These actions likely contributed to Fortinet’s recent share-price strength and improved investor sentiment. Fortinet Stock Gets Price Target Bump from JPMorgan Chase & Co. Fortinet Stock Jumps After Analyst Upgrade
• Positive Sentiment: Broader demand for AI-powered cybersecurity is rising as companies face more sophisticated digital threats. Fortinet is being highlighted among potential beneficiaries, supporting the sector’s investment narrative. Top AI-Powered Cybersecurity Stocks to Buy as Digital Threats Rise
• Neutral Sentiment: Fortinet approaches third-quarter earnings with demand for SASE firewall products, AI-security expansion and share repurchases as potential positives. At the same time, investors are watching for margin pressure and whether its elevated valuation is justified. Fortinet Stock Before Q3 Earnings
• Negative Sentiment: Some Wall Street brokerages maintain a “Hold” rating, signaling that analysts see limited near-term upside after the recent rally. Fortinet also trades at a demanding earnings multiple, increasing sensitivity to an earnings or guidance miss. Fortinet Stock Rated Hold by Wall Street Brokerages

Fortinet Company Profile

Fortinet, Inc develops cybersecurity products and services designed to protect networks, endpoints, applications, cloud environments and operational technology systems. The company’s portfolio includes next-generation firewalls, secure networking products, endpoint security, web application security, email security, identity and access solutions, and security information and event management tools.

Its product offerings include FortiGate network security appliances and cloud-based firewalls, along with FortiSwitch, FortiAP and FortiExtender solutions for secure connectivity.