Focus Partners Advisor Solutions LLC Takes $3.24 Million Position in Fortinet, Inc. $FTNT

Focus Partners Advisor Solutions LLC bought a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, Holdings Channel.com reports. The institutional investor bought 21,084 shares of the software maker’s stock, valued at approximately $3,239,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Elevation Wealth Partners LLC lifted its holdings in shares of Fortinet by 53.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after purchasing an additional 75 shares in the last quarter. Wexford Capital LP bought a new stake in Fortinet during the 3rd quarter valued at $25,000. Physician Wealth Advisors Inc. increased its stake in Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after purchasing an additional 245 shares in the last quarter. Palisade Asset Management LLC acquired a new position in Fortinet during the third quarter worth $28,000. Finally, Elyxium Wealth LLC bought a new position in shares of Fortinet in the fourth quarter valued at $27,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fortinet

In other Fortinet news, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the sale, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ken Xie sold 161,482 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. The trade was a 0.30% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 475,157 shares of company stock worth $69,480,964. Insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

FTNT has been the subject of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $185.00 target price (up from $165.00) on shares of Fortinet in a research report on Thursday, July 30th. BTIG Research raised their price target on shares of Fortinet from $186.00 to $203.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. UBS Group reiterated a “neutral” rating and set a $180.00 price target on shares of Fortinet in a research note on Thursday, July 30th. Mizuho set a $125.00 price objective on Fortinet and gave the stock an “underperform” rating in a report on Wednesday, July 15th. Finally, Susquehanna increased their price objective on Fortinet from $115.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eighteen have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, Fortinet currently has an average rating of “Hold” and an average target price of $150.91.

Fortinet Stock Performance

Shares of FTNT stock opened at $160.01 on Friday. The firm has a market cap of $117.40 billion, a price-to-earnings ratio of 56.34, a P/E/G ratio of 3.03 and a beta of 1.07. 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 firm’s 50-day simple moving average is $155.05 and its two-hundred day simple moving average is $115.09.

Fortinet (NASDAQ:FTNT) last released its 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 net margin of 28.17% and a return on equity of 191.54%. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the company earned $0.64 earnings per share. The company’s quarterly revenue 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. As a group, equities analysts forecast that Fortinet, Inc. will post 3.05 earnings per share for the current year.

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.