RFG Advisory LLC Sells 5,563 Shares of Fortinet, Inc. $FTNT

RFG Advisory LLC reduced its stake in Fortinet, Inc. (NASDAQ:FTNT) by 29.1% in the 2nd quarter, Holdings Channel reports. The firm owned 13,581 shares of the software maker’s stock after selling 5,563 shares during the period. RFG Advisory LLC’s holdings in Fortinet were worth $2,086,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Expressive Wealth LLC bought a new position in shares of Fortinet in the fourth quarter worth about $646,000. Transamerica Financial Advisors LLC bought a new stake in Fortinet during the 2nd quarter valued at approximately $492,000. Leonteq Securities AG bought a new stake in Fortinet during the 4th quarter valued at approximately $10,422,000. Eurizon Capital SGR S.p.A. acquired a new stake in Fortinet in the 4th quarter valued at approximately $14,638,000. Finally, Westerkirk Capital Inc. grew its holdings in Fortinet by 41.9% in the 4th quarter. Westerkirk Capital Inc. now owns 52,500 shares of the software maker’s stock valued at $4,169,000 after buying an additional 15,500 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Stock Performance

FTNT opened at $158.85 on Friday. The stock has a market cap of $116.55 billion, a PE ratio of 55.93, a P/E/G ratio of 2.98 and a beta of 1.06. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. Fortinet, Inc. has a 1 year low of $73.55 and a 1 year high of $173.89. The stock’s 50 day simple moving average is $158.99 and its 200-day simple moving average is $125.41.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS 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 was up 25.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Sell-side analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current year.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Gartner recognition reinforces Fortinet’s competitive position. Fortinet was named a Leader in the 2026 Gartner Magic Quadrant for Hybrid Mesh Firewall and ranked highest for Ability to Execute for the second consecutive year. The recognition highlights adoption of its FortiGate and FortiOS platform across physical, cloud, virtual and as-a-service environments, as well as investments in AI, secure networking, multi-cloud orchestration and post-quantum cryptography. Fortinet Named a Leader in the 2026 Gartner Magic Quadrant Report
• Positive Sentiment: Growth and guidance support the bullish case. Recent results showed revenue rising approximately 26% year over year to about $2.05 billion, while earnings exceeded analyst expectations. Fortinet also raised its 2026 outlook, and ongoing demand for AI-related security products and expanding margins could help justify the stock’s elevated valuation. Is FTNT Stock Worth Buying at a Premium P/S or Should Investors Wait?
• Neutral Sentiment: Short-interest data provides little useful signal. Reported short interest was zero, with a zero-day short-interest ratio, but the accompanying percentage change was listed as “NaN,” suggesting a data-quality issue rather than a meaningful change in bearish positioning.
• Negative Sentiment: Valuation and analyst caution could limit further upside. Fortinet trades at a rich earnings and sales multiple after a substantial rally. Some analysts continue to question whether growth can remain strong enough to support the premium, with several ratings below Buy and a median reported price target well below the current trading level.
• Negative Sentiment: Insider selling is a potential overhang. Reported insider activity over the past six months included 36 sales and no purchases, including substantial sales by CEO Ken Xie. While such transactions may reflect compensation or portfolio diversification, the absence of insider buying can weigh on investor sentiment.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Citigroup upped their price target on Fortinet from $165.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Wall Street Zen raised shares of Fortinet from a “hold” rating to a “buy” rating in a research report on Monday, August 3rd. The Goldman Sachs Group reiterated a “buy” rating and set a $190.00 target price on shares of Fortinet in a research note on Thursday, July 30th. Wolfe Research set a $175.00 price target on shares of Fortinet in a report on Thursday, July 30th. Finally, Susquehanna raised their price target on shares of Fortinet from $115.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $150.91.

Insiders Place Their Bets

In other 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 sale, the vice president directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 approximately $8,616,486,029.52. The trade was 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. Corporate insiders own 17.60% of the company’s stock.

Fortinet Company Profile

Fortinet, Inc develops cybersecurity products and services designed to protect enterprise, small and midsize business, service provider, and government networks. Its portfolio covers network security, endpoint protection, cloud security, secure access service edge (SASE), security operations, and zero-trust access.

The company’s offerings include FortiGate next-generation firewalls, FortiSwitch secure networking switches, FortiAP wireless access points, FortiClient endpoint security, and FortiManager and FortiAnalyzer management and analytics tools.