Fortinet (NASDAQ:FTNT) CEO Ken Xie Sells 161,482 Shares

Fortinet, Inc. (NASDAQ:FTNT) CEO Ken Xie sold 161,482 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.

Ken Xie also recently made the following trade(s):

• On Tuesday, June 2nd, Ken Xie sold 160,632 shares of Fortinet stock. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56.

Fortinet Trading Up 3.1%

FTNT traded up $5.08 during midday trading on Tuesday, hitting $168.29. 6,430,680 shares of the company were exchanged, compared to its average volume of 6,441,908. The firm’s 50 day moving average price is $151.09 and its 200-day moving average price is $109.91. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $170.35. The firm has a market capitalization of $123.48 billion, a P/E ratio of 59.26, a P/E/G ratio of 3.93 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.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The business’s quarterly 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. As a group, equities analysts forecast that Fortinet, Inc. will post 2.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Fortinet

A number of hedge funds have recently added to or reduced their stakes in FTNT. Physician Wealth Advisors Inc. grew its stake in shares of Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after acquiring an additional 245 shares in the last quarter. Wexford Capital LP purchased a new stake in Fortinet in the 3rd quarter valued at about $25,000. Elyxium Wealth LLC purchased a new stake in Fortinet in the 4th quarter valued at about $27,000. Palisade Asset Management LLC bought a new position in shares of Fortinet during the 3rd quarter worth approximately $28,000. Finally, Ares Financial Consulting LLC purchased a new position in shares of Fortinet in the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FTNT. Royal Bank Of Canada set a $185.00 price objective on shares of Fortinet and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Compass Point set a $100.00 price target on shares of Fortinet in a research report on Monday, May 4th. Truist Financial set a $183.00 price objective on Fortinet and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Barclays set a $190.00 target price on Fortinet and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, HSBC downgraded Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 target price for the company. in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, Fortinet presently has an average rating of “Hold” and a consensus target price of $150.91.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet reported second-quarter revenue of approximately $2.05 billion and net income of $606.3 million, while raising its full-year 2026 revenue outlook to $8.02 billion–$8.18 billion. Third-quarter revenue guidance of $2.01 billion–$2.10 billion also points to continued growth. Fortinet Is Up 8.8% After Raising 2026 Revenue Guidance
• Positive Sentiment: The company launched the FortiGate 1200G series with FortiSASE Outpost, targeting high-performance, AI-focused and sovereignty-sensitive cybersecurity requirements across hybrid environments. The product expansion could support future demand and strengthen Fortinet’s competitive position. FortiGate 1200G and FortiSASE Outpost
• Positive Sentiment: Growth-oriented analysis remains favorable, citing Fortinet’s above-average financial growth and ranking it as a potentially market-beating growth stock. These reports add to investor optimism following the company’s results and guidance increase. Why Growth Investors Should Buy Fortinet Now
• Positive Sentiment: Wall Street Zen raised Fortinet’s rating to Buy, providing another favorable signal for sentiment. Fortinet Rating Increased to Buy
• Neutral Sentiment: Coverage comparing Fortinet with the broader computer and technology sector highlights its year-to-date performance, while separate analysis is examining international revenue trends and their effect on forecasts. Neither report identifies a new fundamental catalyst. Fortinet Sector Performance Comparison
• Negative Sentiment: Robert W. Baird reaffirmed a Hold rating and $165 price target, citing margin and balance-sheet risks. The target is below Fortinet’s recent trading range, potentially signaling limited near-term upside after the strong rally. Fortinet Hold Rating and Price Target

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.