Fortinet, Inc. $FTNT Shares Purchased by Davidson Capital Management Inc.

Davidson Capital Management Inc. grew its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 31.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,171 shares of the software maker’s stock after purchasing an additional 10,251 shares during the period. Davidson Capital Management Inc.’s holdings in Fortinet were worth $3,630,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. GPS Wealth Strategies Group LLC grew its stake in Fortinet by 3.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,391 shares of the software maker’s stock worth $358,000 after acquiring an additional 108 shares during the period. Huntington National Bank grew its position in shares of Fortinet by 0.7% in the second quarter. Huntington National Bank now owns 16,596 shares of the software maker’s stock valued at $1,755,000 after purchasing an additional 112 shares during the period. L2 Asset Management LLC increased its stake in Fortinet by 5.1% in the second quarter. L2 Asset Management LLC now owns 2,847 shares of the software maker’s stock valued at $301,000 after purchasing an additional 137 shares during the last quarter. Meeder Asset Management Inc. lifted its position in Fortinet by 40.6% during the third quarter. Meeder Asset Management Inc. now owns 481 shares of the software maker’s stock worth $40,000 after buying an additional 139 shares during the period. Finally, Cary Street Partners Investment Advisory LLC boosted its stake in Fortinet by 11.4% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,410 shares of the software maker’s stock worth $149,000 after buying an additional 144 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FTNT shares. HSBC lowered shares of Fortinet from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Barclays set a $88.00 price target on shares of Fortinet in a report on Tuesday, February 3rd. Rosenblatt Securities upped their price objective on Fortinet from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Truist Financial set a $88.00 target price on Fortinet in a research report on Tuesday, January 20th. Finally, Wedbush reissued an “outperform” rating and set a $90.00 price target on shares of Fortinet in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-two have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $88.62.

Insider Activity at Fortinet

In related news, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the sale, the vice president owned 10,210,282 shares of the company’s stock, valued at $831,321,160.44. The trade was a 3.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ken Xie sold 175,737 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the completion of the transaction, the chief executive officer owned 51,396,385 shares in the company, valued at $4,184,693,666.70. This represents a 0.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is owned by company insiders.

Fortinet Trading Up 2.1%

NASDAQ:FTNT opened at $82.79 on Thursday. The business’s 50-day moving average is $80.13 and its two-hundred day moving average is $81.43. The firm has a market capitalization of $61.26 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 2.80 and a beta of 1.05. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $109.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Research analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Company outlook and results: Fortinet guided to ~13% billings growth for 2026 and reported quarterly revenue and EPS above Street estimates — a clear fundamental positive supporting buying interest. Fortinet forecasts article
• Positive Sentiment: Support from broker moves: BMO recently bumped its price target (to $95) and cites Fortinet’s long-term track record, adding analyst support that can underpin the rally. BMO note (via Yahoo)
• Neutral Sentiment: Valuation review: Recent coverage assesses FTNT valuation after the share-price momentum — useful context for investors weighing whether the rally is priced for continued growth. Valuation article
• Neutral Sentiment: Analyst/market notes roundup: Fortinet appears in several analyst research roundups and conference materials (Morgan Stanley presentation transcript and top analyst call summaries), which provide incremental detail but no single catalyst. Conference transcript
• Neutral Sentiment: Short-call follow-up: JPMorgan had listed FTNT among top short ideas weeks ago; recent write-ups show a mixed scorecard — the initial short interest narrative hasn’t clearly resolved and is producing uneven headlines. JPMorgan short ideas follow-up
• Neutral Sentiment: Data noise on short interest: Recent short-interest reporting in the feed shows implausible/zero values (likely a data error) — not a reliable signal for trading decisions today. (No actionable article link)
• Negative Sentiment: New negative analyst action: Wells Fargo initiated coverage with an Underweight rating and a $64 price target (materially below current levels), which is a clear near-term headwind and likely a major driver of intraday volatility. Wells Fargo initiation (Benzinga)
• Negative Sentiment: Additional sell-side downward signal reported: a Zacks note referenced Wells Fargo’s negative stance (phrased as a move to “strong sell”), reinforcing the negative take from that shop. Zacks summary

About Fortinet

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.