OneAscent Financial Services LLC Makes New $571,000 Investment in Fortinet, Inc. $FTNT

OneAscent Financial Services LLC acquired a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) in the 2nd quarter, Holdings Channel reports. The fund acquired 3,719 shares of the software maker’s stock, valued at approximately $571,000.

A number of other large investors have also recently made changes to their positions in the stock. Physician Wealth Advisors Inc. increased its position 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 valued at $25,000 after acquiring an additional 245 shares during the period. Dunhill Financial LLC acquired a new stake in Fortinet during the 2nd quarter worth about $25,000. Wexford Capital LP acquired a new stake in Fortinet during the 3rd quarter worth about $25,000. Elyxium Wealth LLC purchased a new stake in Fortinet during the 4th quarter valued at about $27,000. Finally, Palisade Asset Management LLC purchased a new stake in Fortinet during the 3rd quarter valued at about $28,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Stock Down 1.3%

Shares of FTNT opened at $150.79 on Friday. The company has a market capitalization of $110.64 billion, a price-to-earnings ratio of 53.10, a PEG ratio of 2.90 and a beta of 1.07. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $172.09. The stock’s 50-day moving average price is $156.10 and its 200-day moving average price is $117.36. 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 announced 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 period last year, the business earned $0.64 earnings per share. Fortinet’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. On average, sell-side analysts predict that Fortinet, Inc. will post 3.05 EPS for the current year.

Insider Buying and Selling

In other news, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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, VP Michael Xie sold 3,121 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the transaction, the vice president owned 9,918,360 shares of the company’s stock, valued at approximately $1,613,022,886.80. This represents a 0.03% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 329,142 shares of company stock worth $50,731,178 in the last ninety days. Corporate insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

FTNT has been the subject of several research analyst reports. Zacks Research upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Weiss Ratings upgraded Fortinet from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 31st. Bank of America reiterated a “buy” rating on shares of Fortinet in a report on Monday, July 27th. HC Wainwright reissued a “buy” rating on shares of Fortinet in a research report on Thursday, July 30th. Finally, Evercore set a $165.00 price objective on shares of Fortinet in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eighteen have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, Fortinet has a consensus rating of “Hold” and a consensus target price of $150.91.

Fortinet 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.