Corient Private Wealth LP Makes New $32.54 Million Investment in Fortinet, Inc. $FTNT

Corient Private Wealth LP purchased a new position in Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 211,837 shares of the software maker’s stock, valued at approximately $32,542,000.

A number of other hedge funds have also made changes to their positions in the stock. Burk Holdings LLC acquired a new stake in Fortinet in the second quarter worth approximately $25,000. Dunhill Financial LLC acquired a new position in shares of Fortinet during the 2nd quarter valued at $25,000. Elevation Wealth Partners LLC increased its position in shares of 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 purchasing an additional 75 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in shares of Fortinet in the 2nd quarter worth $35,000. Finally, Kilter Group LLC bought a new stake in shares of Fortinet in the 2nd quarter worth $41,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Activity

In other Fortinet news, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction that occurred 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 in the company, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 transaction of $26,266,662.12. Following the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This trade represents a 0.30% decrease in their ownership of the stock. 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. Over the last quarter, insiders sold 329,142 shares of company stock valued at $50,731,178. Corporate insiders own 17.60% of the company’s stock.

Fortinet Stock Up 9.7%

Shares of Fortinet stock opened at $172.78 on Friday. Fortinet, Inc. has a 12-month low of $73.55 and a 12-month high of $173.89. The firm has a market capitalization of $126.77 billion, a PE ratio of 60.84, a price-to-earnings-growth ratio of 2.99 and a beta of 1.07. 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’s fifty day moving average is $157.25 and its 200-day moving average is $120.08.

Fortinet (NASDAQ:FTNT) last released its quarterly 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. The business had revenue of $2.05 billion during 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%.Fortinet’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter last 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. Equities analysts anticipate that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. UBS Group reaffirmed a “neutral” rating and set a $180.00 target price on shares of Fortinet in a research note on Thursday, July 30th. Wall Street Zen raised shares of Fortinet from a “hold” rating to a “buy” rating in a report on Monday, August 3rd. Robert W. Baird set a $165.00 price target on shares of Fortinet in a report on Thursday, July 30th. DZ Bank lowered shares of Fortinet from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Finally, Morgan Stanley reaffirmed a “positive” rating and issued a $136.00 price objective (up from $133.00) on shares of Fortinet in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twenty have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $150.91.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Cybersecurity-sector rally lifted sentiment. Fortinet appears to be benefiting from strong quarterly results and upbeat outlooks from major cybersecurity peers, creating a positive read-through for comparable companies. The company’s own recent results showed 25.6% year-over-year revenue growth to $2.05 billion and earnings above analyst expectations. Why Fortinet Stock Is Up Today
• Positive Sentiment: CMMC Level 2 certification strengthens Fortinet’s federal positioning. Fortinet Federal, a wholly owned subsidiary, received certification after an independent assessment validated 110 NIST SP 800-171 security requirements for protecting Controlled Unclassified Information. The milestone may improve Fortinet’s ability to compete for U.S. government and defense-related contracts. Fortinet Federal Achieves CMMC Level 2 Certification
• Positive Sentiment: Operational momentum remains strong. Fortinet reported better-than-expected quarterly earnings and revenue, with product revenue growth and higher full-year guidance reinforcing the company’s growth narrative. This provides a fundamental backdrop for the recent share-price strength.
• Neutral Sentiment: Valuation is becoming a concern. An investment analysis highlighted Fortinet’s strong platform and cash generation but argued that the elevated valuation leaves limited margin of safety. With the shares near their 52-week high, additional gains may require continued execution and upward revisions to expectations. Fortinet Strong Platform and Cash Generation, but Valuation Leaves Limited Margin of Safety
• Negative Sentiment: Insider selling and mixed analyst views could limit upside. Reported insider activity showed executives selling shares without recorded open-market purchases during the past six months. Several analysts also maintain cautious ratings, and the reported median price target is below the current trading range, signaling potential valuation pressure.

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.