Empowered Funds LLC Increases Stock Position in Fortinet, Inc. $FTNT

Empowered Funds LLC boosted its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 108.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,306 shares of the software maker’s stock after purchasing an additional 81,778 shares during the quarter. Empowered Funds LLC’s holdings in Fortinet were worth $12,855,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Brighton Jones LLC boosted its stake in shares of Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after buying an additional 221 shares during the period. Bison Wealth LLC purchased a new position in shares of Fortinet in the 4th quarter valued at approximately $585,000. HUB Investment Partners LLC increased its holdings in shares of Fortinet by 29.1% in the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after purchasing an additional 1,193 shares during the period. Diversify Advisory Services LLC purchased a new stake in shares of Fortinet during the second quarter worth approximately $1,136,000. Finally, Quantinno Capital Management LP grew its position in Fortinet by 27.4% in the 2nd quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock valued at $15,328,000 after buying an additional 31,202 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Weiss Ratings raised shares of Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Arete Research set a $104.00 price target on Fortinet and gave the company a “buy” rating in a report on Monday, April 27th. JPMorgan Chase & Co. upped their price objective on Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Wall Street Zen downgraded Fortinet from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Susquehanna upped their price target on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-four have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $123.61.

Insider Buying and Selling at Fortinet

In other news, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the transaction, the vice president directly owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total value of $23,384,806.56. Following the completion of the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 318,387 shares of company stock valued at $43,403,063 over the last quarter. Corporate insiders own 17.60% of the company’s stock.

Fortinet Stock Up 2.2%

FTNT opened at $153.22 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The company has a market cap of $112.26 billion, a price-to-earnings ratio of 59.16, a PEG ratio of 4.08 and a beta of 1.09. Fortinet, Inc. has a one year low of $70.12 and a one year high of $170.35. The business’s fifty day moving average is $149.45 and its two-hundred day moving average is $108.19.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. 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 anticipate that Fortinet, Inc. will post 2.8 EPS for the current fiscal year.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q2 results surpassed estimates. Fortinet reported $2.05 billion in revenue, up 26% year over year and above the $1.89 billion consensus estimate. Adjusted EPS was $0.90 versus expectations of $0.75, while GAAP diluted EPS rose to $0.82 from $0.57 a year earlier. Fortinet Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Product momentum accelerated. Product revenue jumped 52% to $773 million, billings increased 33% to $2.37 billion, and the company generated $1.04 billion in operating cash flow and $966 million in free cash flow. Management cited strong enterprise demand amid rising cybersecurity threats. Fortinet lifts annual revenue forecast on strong cybersecurity demand
• Positive Sentiment: Fortinet raised its 2026 outlook. Full-year revenue guidance increased to $8.02 billion-$8.18 billion, compared with the prior outlook of approximately $8.0 billion-$8.2 billion as reported in the company’s updated guidance, and the company projected adjusted EPS of $3.41-$3.47 versus the $3.08 analyst consensus. Third-quarter revenue guidance of $2.01 billion-$2.10 billion and EPS guidance of $0.83-$0.87 also exceeded consensus estimates. Fortinet Reports Strong Second Quarter 2026 Financial Results
• Neutral Sentiment: Fortinet also expanded its FortiGate G Series with the 1200G and FortiSASE Outpost, supporting its strategy of combining networking, firewall and cloud-delivered security services. Fortinet Expands FortiGate G Series
• Negative Sentiment: Valuation remains a risk after the strong rally: Fortinet trades at a high earnings multiple, and Wells Fargo maintained a Sell rating. In addition, reported insider activity showed executives selling shares without recorded purchases in the past six months, which may temper bullish sentiment.

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.