Perigon Wealth Management LLC Invests $2.55 Million in Fortinet, Inc. $FTNT

Perigon Wealth Management LLC acquired a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 16,613 shares of the software maker’s stock, valued at approximately $2,552,000.

Several other large investors also recently bought and sold shares of FTNT. Elevation Wealth Partners LLC lifted its stake in Fortinet by 53.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock valued at $33,000 after acquiring an additional 75 shares during the period. Wexford Capital LP bought a new stake in shares of Fortinet in the third quarter worth approximately $25,000. Physician Wealth Advisors Inc. raised its holdings in shares of Fortinet by 408.3% during the first 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 during the last quarter. Palisade Asset Management LLC bought a new position in Fortinet during the third quarter valued at approximately $28,000. Finally, Elyxium Wealth LLC purchased a new stake in Fortinet in the fourth quarter worth approximately $27,000. 83.71% of the stock is currently owned by institutional investors.

Fortinet Price Performance

NASDAQ:FTNT opened at $155.85 on Tuesday. 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 business’s 50-day simple moving average is $155.31 and its two-hundred day simple moving average is $115.83. The stock has a market cap of $114.35 billion, a PE ratio of 54.88, a P/E/G ratio of 3.03 and a beta of 1.07. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $172.09.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The business’s quarterly 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. As a group, analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on FTNT. Bank of America reissued a “buy” rating on shares of Fortinet in a report on Monday, July 27th. BTIG Research boosted their price target on Fortinet from $186.00 to $203.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. HC Wainwright reiterated a “buy” rating on shares of Fortinet in a research note on Thursday, July 30th. Weiss Ratings raised shares of Fortinet from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $160.00 price target on shares of Fortinet in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $150.91.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 161,482 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 3,907 shares of the firm’s stock in a transaction 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 transaction, the vice president directly owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. The trade was a 0.04% 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. Over the last quarter, insiders have sold 475,157 shares of company stock valued at $69,480,964. 17.60% of the stock is currently owned by corporate insiders.

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.