79,752 Shares in Fortinet, Inc. $FTNT Purchased by Moore Capital Management LP

Moore Capital Management LP acquired a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 79,752 shares of the software maker’s stock, valued at approximately $12,252,000.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Fortinet in the 2nd quarter worth approximately $9,561,650,000. State Street Corp increased its holdings in shares of Fortinet by 1.6% in the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after purchasing an additional 477,397 shares during the last quarter. Norges Bank acquired a new stake in shares of Fortinet in the fourth quarter valued at approximately $1,152,917,000. Bank of New York Mellon Corp lifted its position in Fortinet by 6.6% during the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock worth $1,151,810,000 after buying an additional 893,190 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Fortinet by 45.5% during the first quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock worth $940,284,000 after buying an additional 3,598,487 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FTNT. Truist Financial set a $183.00 target price on Fortinet and gave the company a “buy” rating in a report on Tuesday, July 21st. Bank of America reiterated a “buy” rating on shares of Fortinet in a report on Monday, July 27th. Citigroup boosted their price target on shares of Fortinet from $165.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $160.00 price objective on shares of Fortinet in a report on Thursday, July 30th. Finally, Barclays set a $190.00 price objective on shares of Fortinet and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $150.91.

Fortinet Price Performance

FTNT stock opened at $166.00 on Monday. The business has a fifty day moving average of $157.68 and a two-hundred day moving average of $120.64. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The stock has a market cap of $121.80 billion, a price-to-earnings ratio of 58.45, a price-to-earnings-growth ratio of 3.15 and a beta of 1.07. Fortinet, Inc. has a 52-week low of $73.55 and a 52-week high of $173.89.

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

Insider Activity

In other Fortinet news, 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 value of $26,266,662.12. Following the transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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, VP Michael Xie sold 3,121 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the transaction, the vice president directly owned 9,918,360 shares of the company’s stock, valued at approximately $1,613,022,886.80. This trade represents a 0.03% decrease in their position. 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 90 days, insiders sold 329,142 shares of company stock worth $50,731,178. 17.60% of the stock is owned by insiders.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet Federal, a wholly owned subsidiary, earned CMMC Level 2 certification after validating 110 NIST SP 800-171 controls. The certification could improve Fortinet’s credibility with U.S. government agencies and defense contractors seeking compliant cybersecurity providers. Fortinet Federal’s New CMMC Level 2 Certification
• Positive Sentiment: Analysts continue to point to platform adoption, artificial-intelligence security products, product expansion and CMMC-related demand as potential growth drivers across enterprise and government markets. Fortinet Stock Surges on Security Platform Momentum
• Positive Sentiment: A new multi-year sponsorship agreement with Stanford Athletics supports Fortinet’s brand visibility, although the financial impact is likely modest compared with its core business. Stanford Athletics and Fortinet Sponsorship
• Neutral Sentiment: Fortinet recently moved above its 20-day moving average, signaling short-term technical momentum. However, technical support can also encourage profit-taking after a large advance. Fortinet Crosses Above Its 20-Day Moving Average
• Negative Sentiment: Valuation is a key overhang. With the stock near its annual high and trading at roughly 58 times earnings, investors may be demanding continued strong execution, leaving limited room for disappointment. Fortinet Valuation Leaves Limited Margin of Safety
• Negative Sentiment: Insider-trading data shows executives made no open-market purchases and reported multiple sales over the past six months. In addition, the reported median analyst price target of $115 is below recent trading levels, reinforcing concerns that expectations may have become excessive.

Fortinet 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.