Fortinet, Inc. $FTNT Shares Newly Bought by Fairvoy Private Wealth LLC

Fairvoy Private Wealth LLC acquired a new stake in Fortinet, Inc. (NASDAQ:FTNT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 6,655 shares of the software maker’s stock, valued at approximately $1,190,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prairie Advisory LLC grew its position in Fortinet by 100.0% in the 3rd quarter. Prairie Advisory LLC now owns 11,012 shares of the software maker’s stock worth $1,969,000 after purchasing an additional 5,506 shares during the last quarter. OceanIQ Capital LLC increased its stake in shares of Fortinet by 16.4% in the third quarter. OceanIQ Capital LLC now owns 11,901 shares of the software maker’s stock valued at $2,270,000 after purchasing an additional 1,677 shares during the period. Kaufman Rossin Wealth LLC bought a new stake in shares of Fortinet during the third quarter valued at approximately $414,000. Cottage Street Advisors LLC bought a new stake in shares of Fortinet during the third quarter valued at approximately $340,000. Finally, Onyx Bridge Wealth Group LLC bought a new stake in shares of Fortinet during the third quarter valued at approximately $741,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fortinet

In other news, COO John Whittle sold 53,865 shares of Fortinet stock in a transaction on Monday, September 14th. The stock was sold at an average price of $165.44, for a total transaction of $8,911,425.60. Following the transaction, the chief operating officer directly owned 96,987 shares in the company, valued at approximately $16,045,529.28. This trade represents a 35.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,121 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total value of $507,568.23. Following the completion of the sale, the vice president directly owned 9,918,360 shares in the company, valued at $1,613,022,886.80. This represents a 0.03% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders sold 221,303 shares of company stock valued at $36,164,034. 17.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Morgan Stanley reissued a “positive” rating and issued a $136.00 price objective (up from $133.00) on shares of Fortinet in a report on Thursday, July 30th. JPMorgan Chase & Co. raised their target price on Fortinet from $100.00 to $118.00 and gave the company an “underweight” rating in a research report on Thursday, July 30th. Truist Financial set a $183.00 target price on Fortinet and gave the company a “buy” rating in a research note on Tuesday, July 21st. Evercore set a $165.00 price target on Fortinet in a research note on Thursday, July 30th. Finally, Piper Sandler reissued a “neutral” rating and set a $175.00 price target (up from $110.00) on shares of Fortinet in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, Fortinet currently has a consensus rating of “Hold” and a consensus target price of $160.92.

Fortinet Price Performance

Shares of NASDAQ:FTNT traded up $2.37 during trading on Monday, reaching $171.50. The company had a trading volume of 5,748,829 shares, compared to its average volume of 5,835,386. The firm’s fifty day moving average is $169.33 and its 200 day moving average is $143.30. The firm has a market capitalization of $125.83 billion, a PE ratio of 60.39, a price-to-earnings-growth ratio of 3.16 and a beta of 1.03. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $197.13. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the firm posted $0.64 earnings per share. The business’s revenue was up 25.6% on a year-over-year basis. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, equities analysts forecast that Fortinet, Inc. will post 3.10 EPS for the current year.

Fortinet Profile

Fortinet, Inc develops cybersecurity products and services designed to protect networks, endpoints, applications, cloud environments and operational technology systems. The company’s portfolio includes next-generation firewalls, secure networking products, endpoint security, web application security, email security, identity and access solutions, and security information and event management tools.

Its product offerings include FortiGate network security appliances and cloud-based firewalls, along with FortiSwitch, FortiAP and FortiExtender solutions for secure connectivity.