Diversify Advisory Services LLC Purchases 27,616 Shares of Fortinet, Inc. $FTNT

Diversify Advisory Services LLC lifted its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 257.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,361 shares of the software maker’s stock after purchasing an additional 27,616 shares during the period. Diversify Advisory Services LLC’s holdings in Fortinet were worth $3,357,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Fortinet in the 2nd quarter valued at approximately $1,640,900,000. Vanguard Group Inc. boosted its position in Fortinet by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after buying an additional 2,894,355 shares during the period. First Trust Advisors LP grew its holdings in Fortinet by 30.9% during the 3rd quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock worth $636,962,000 after acquiring an additional 1,790,033 shares during the last quarter. State Street Corp grew its holdings in Fortinet by 3.0% during the 2nd quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock worth $3,085,244,000 after acquiring an additional 862,468 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Fortinet by 28.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,846,164 shares of the software maker’s stock valued at $323,386,000 after acquiring an additional 858,723 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $83.00 price target on shares of Fortinet in a research note on Friday, February 6th. Barclays set a $88.00 price objective on shares of Fortinet in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. increased their price objective on Fortinet from $72.00 to $73.00 and gave the company an “underweight” rating in a report on Friday, February 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 target price on shares of Fortinet in a research report on Monday, November 24th. Finally, Mizuho lifted their target price on Fortinet from $72.00 to $74.00 and gave the stock an “underperform” rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-two have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $88.62.

Fortinet Stock Up 0.2%

Shares of NASDAQ FTNT opened at $83.81 on Tuesday. The company’s 50 day moving average price is $80.29 and its 200-day moving average price is $81.55. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $109.33. The company has a market capitalization of $62.01 billion, a P/E ratio of 34.49, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.07. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the company posted $0.74 earnings per share. Fortinet’s revenue for the quarter was up 14.8% compared to the same quarter last year. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Equities analysts forecast that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Insider Transactions at Fortinet

In other news, VP Michael Xie sold 343,106 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $27,935,690.52. Following the transaction, the vice president directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ken Xie sold 175,737 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $14,308,506.54. Following the sale, the chief executive officer owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. The trade was a 0.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 18.00% of the company’s stock.

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.