Fortinet, Inc. $FTNT Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP lowered its stake in Fortinet, Inc. (NASDAQ:FTNT) by 80.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,033 shares of the software maker’s stock after selling 246,286 shares during the period. Engineers Gate Manager LP’s holdings in Fortinet were worth $9,376,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Fortinet by 2.2% in the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after purchasing an additional 221 shares during the period. Bison Wealth LLC acquired a new stake in shares of Fortinet during the fourth quarter worth about $585,000. HUB Investment Partners LLC boosted its position in Fortinet by 29.1% in the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after buying an additional 1,193 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in Fortinet in the 2nd quarter worth approximately $1,136,000. Finally, Quantinno Capital Management LP increased its holdings in Fortinet by 27.4% in the 2nd quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock worth $15,328,000 after buying an additional 31,202 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FTNT has been the subject of several research reports. Wall Street Zen upgraded shares of Fortinet from a “hold” rating to a “buy” rating in a research note on Monday, August 3rd. Rosenblatt Securities increased their price objective on shares of Fortinet from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. BTIG Research raised their target price on shares of Fortinet from $186.00 to $203.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Barclays set a $190.00 target price on shares of Fortinet and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, Evercore set a $165.00 price target on shares of Fortinet in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Fortinet has an average rating of “Hold” and an average target price of $150.91.

Insider Activity

In other news, VP Michael Xie sold 3,121 shares of the 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 of the company’s stock, valued at $1,613,022,886.80. This represents a 0.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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. Also, CEO Ken Xie sold 161,482 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 52,972,372 shares in the company, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.

Trending Headlines about 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.

Fortinet Price Performance

NASDAQ:FTNT opened at $158.85 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. The company has a 50 day moving average price of $158.99 and a 200-day moving average price of $125.41. Fortinet, Inc. has a 1-year low of $73.55 and a 1-year high of $173.89. The firm has a market cap of $116.55 billion, a price-to-earnings ratio of 55.93, a price-to-earnings-growth ratio of 2.98 and a beta of 1.06.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the firm 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. Equities research analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current year.

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.