Diversify Advisory Services LLC Invests $16.46 Million in Fortinet, Inc. $FTNT

Diversify Advisory Services LLC acquired a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 108,044 shares of the software maker’s stock, valued at approximately $16,464,000.

Several other hedge funds also recently bought and sold shares of the company. Physician Wealth Advisors Inc. increased its holdings in Fortinet by 408.3% during 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 during the period. Dunhill Financial LLC bought a new position in Fortinet in the 2nd quarter valued at $25,000. Wexford Capital LP purchased a new position in shares of Fortinet during the 3rd quarter valued at $25,000. Elyxium Wealth LLC purchased a new position in shares of Fortinet during the 4th quarter valued at $27,000. Finally, Palisade Asset Management LLC bought a new position in shares of Fortinet in the third quarter worth $28,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Price Performance

FTNT stock opened at $158.01 on Wednesday. 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, Inc. has a 52 week low of $73.55 and a 52 week high of $172.09. The firm’s fifty day moving average is $155.70 and its 200 day moving average is $116.37. The firm has a market cap of $115.93 billion, a P/E ratio of 55.64, a P/E/G ratio of 3.03 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping 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 the consensus estimate of $1.89 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The firm’s revenue for the quarter 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. Research analysts predict that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Insider Transactions at Fortinet

In related news, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the transaction, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. This trade represents a 60.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the transaction, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 worth $69,480,964. Company insiders own 17.60% of the company’s stock.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Virtue AI acquisition strengthens AI security offering: Fortinet acquired Virtue AI to add continuous validation, monitoring and runtime protection for AI agents across their lifecycle. The technology is intended to expand Fortinet’s AI-Native Security Fabric as companies move enterprise AI applications into production. Fortinet Advances Continuous AI Protection with the Acquisition of Virtue AI
• Positive Sentiment: AI acquisitions support cloud-platform ambitions: Coverage highlights Fortinet’s broader push to build a cloud-based security platform through AI-related acquisitions. Investors may view the strategy as a way to accelerate growth in AI infrastructure, agent security and cloud security. Fortinet, IBD Stock of the Day, Steps Up AI Acquisitions to Build Cloud Platform
• Positive Sentiment: Analyst comparisons remain favorable: A Zacks analysis gives Fortinet an edge over CrowdStrike, citing SASE momentum, steadier execution and a relatively lower valuation. Other commentary points to projected revenue growth of roughly 19% this year and continued earnings growth, while Fortinet was also identified as a potential earnings-beat candidate. CRWD vs. FTNT: Which Cybersecurity Stock Should You Buy Right Now?
• Neutral Sentiment: Valuation and expectations are elevated: Fortinet has gained nearly 100% in 2026 and trades at a high earnings multiple, leaving the stock sensitive to any slowdown in growth or disappointment from future AI investments. Recent quarterly results exceeded estimates, providing support, but investors will need evidence that the acquisition strategy converts into sustainable revenue growth.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. BMO Capital Markets increased their price objective on Fortinet from $170.00 to $185.00 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Truist Financial set a $183.00 target price on Fortinet and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Evercore set a $165.00 price target on Fortinet in a report on Thursday, July 30th. Wells Fargo & Company set a $135.00 price target on Fortinet and gave the company an “underweight” rating in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada set a $185.00 price objective on Fortinet and gave the stock a “sector perform” rating 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, eighteen have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $150.91.

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.