Wealthfront Advisers LLC Takes $17.51 Million Position in Fortinet, Inc. $FTNT

Wealthfront Advisers LLC purchased a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 113,956 shares of the software maker’s stock, valued at approximately $17,506,000.

Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Fortinet by 2.2% during the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after buying an additional 221 shares in the last quarter. Bison Wealth LLC purchased a new stake in shares of Fortinet in the fourth quarter valued at approximately $585,000. HUB Investment Partners LLC boosted its stake 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 buying an additional 1,193 shares in the last quarter. Diversify Advisory Services LLC acquired a new position in Fortinet during the second quarter worth $1,136,000. Finally, Quantinno Capital Management LP grew its holdings in Fortinet by 27.4% during the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock worth $15,328,000 after acquiring an additional 31,202 shares during the period. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Stock Up 1.4%

FTNT opened at $158.01 on Wednesday. The business’s fifty day moving average is $155.70 and its two-hundred day moving average is $116.37. 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 cap of $115.93 billion, a price-to-earnings ratio of 55.64, a PEG ratio of 3.03 and a beta of 1.07. Fortinet, Inc. has a one year low of $73.55 and a one year high of $172.09.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. Fortinet’s revenue was up 25.6% compared to the same quarter last year. 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 3.05 EPS for the current fiscal year.

Insider Buying and Selling

In other Fortinet news, VP Michael Xie sold 3,121 shares of Fortinet stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the transaction, the vice president owned 9,918,360 shares in the company, valued at approximately $1,613,022,886.80. The trade was a 0.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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, CEO Ken Xie sold 161,482 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the completion of 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 position. 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. Insiders have sold 475,157 shares of company stock worth $69,480,964 in the last three months. Corporate insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on FTNT. JPMorgan Chase & Co. raised their target price on Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, May 7th. HSBC cut shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price target on the stock. in a research note on Monday, June 29th. BTIG Research increased their price target on shares of Fortinet from $186.00 to $203.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Wolfe Research set a $175.00 price objective on shares of Fortinet in a research note on Thursday, July 30th. Finally, BMO Capital Markets boosted their price objective on shares of Fortinet from $170.00 to $185.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eighteen have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $150.91.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Virtue AI acquisition strengthens AI security offering: Fortinet acquired Virtue AI to add continuous validation, monitoring and runtime protection for AI agents across their lifecycle. The technology is intended to expand Fortinet’s AI-Native Security Fabric as companies move enterprise AI applications into production. Fortinet Advances Continuous AI Protection with the Acquisition of Virtue AI
• Positive Sentiment: AI acquisitions support cloud-platform ambitions: Coverage highlights Fortinet’s broader push to build a cloud-based security platform through AI-related acquisitions. Investors may view the strategy as a way to accelerate growth in AI infrastructure, agent security and cloud security. Fortinet, IBD Stock of the Day, Steps Up AI Acquisitions to Build Cloud Platform
• Positive Sentiment: Analyst comparisons remain favorable: A Zacks analysis gives Fortinet an edge over CrowdStrike, citing SASE momentum, steadier execution and a relatively lower valuation. Other commentary points to projected revenue growth of roughly 19% this year and continued earnings growth, while Fortinet was also identified as a potential earnings-beat candidate. CRWD vs. FTNT: Which Cybersecurity Stock Should You Buy Right Now?
• Neutral Sentiment: Valuation and expectations are elevated: Fortinet has gained nearly 100% in 2026 and trades at a high earnings multiple, leaving the stock sensitive to any slowdown in growth or disappointment from future AI investments. Recent quarterly results exceeded estimates, providing support, but investors will need evidence that the acquisition strategy converts into sustainable revenue growth.

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.