Fortinet, Inc. $FTNT Shares Bought by Wealth Enhancement Trust Services Inc.

Wealth Enhancement Trust Services Inc. increased its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 83.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,326 shares of the software maker’s stock after acquiring an additional 10,180 shares during the period. Wealth Enhancement Trust Services Inc.’s holdings in Fortinet were worth $3,991,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. North Point Portfolio Managers Corp OH purchased a new position in shares of Fortinet in the 3rd quarter valued at about $114,000. Collective Family Office LLC purchased a new stake in shares of Fortinet in the third quarter valued at approximately $230,000. Versant Capital Management Inc lifted its position in shares of Fortinet by 8.8% during the 3rd quarter. Versant Capital Management Inc now owns 4,571 shares of the software maker’s stock valued at $817,000 after buying an additional 370 shares in the last quarter. Parrish Capital LLC grew its stake in Fortinet by 1.3% in the 3rd quarter. Parrish Capital LLC now owns 6,374 shares of the software maker’s stock valued at $1,139,000 after acquiring an additional 82 shares during the period. Finally, QRG Capital Management Inc. raised its position in Fortinet by 12.7% during the second quarter. QRG Capital Management Inc. now owns 85,054 shares of the software maker’s stock worth $13,066,000 after acquiring an additional 9,563 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Trading Down 1.0%

Shares of Fortinet stock traded down $1.99 during trading hours on Wednesday, hitting $189.28. The company’s stock had a trading volume of 3,857,448 shares, compared to its average volume of 5,917,405. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $192.41. The firm has a fifty day moving average of $165.19 and a 200-day moving average of $137.32. The stock has a market cap of $138.88 billion, a price-to-earnings ratio of 66.65, a P/E/G ratio of 3.44 and a beta of 1.03. 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 issued 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. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. Fortinet’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. 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 forecast that Fortinet, Inc. will post 3.1 EPS for the current year.

Insider Activity at Fortinet

In other Fortinet news, COO John Whittle sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $168.74, for a total value of $478,377.90. Following the sale, the chief operating officer owned 96,987 shares of the company’s stock, valued at $16,365,586.38. The trade was a 2.84% decrease in their ownership of the stock. The sale 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. Also, CEO Ken Xie sold 161,482 shares of the business’s 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 in the company, valued at $8,616,486,029.52. This represents a 0.30% decrease in their position. 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. In the last quarter, insiders sold 221,303 shares of company stock worth $36,164,034. Insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on FTNT shares. Wolfe Research set a $175.00 target price on shares of Fortinet in a research note on Thursday, July 30th. DZ Bank lowered Fortinet from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Wells Fargo & Company set a $135.00 price objective on Fortinet and gave the company an “underweight” rating in a research note on Thursday, July 30th. Citigroup lifted their target price on shares of Fortinet from $165.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Finally, Truist Financial set a $183.00 price target on Fortinet and gave the company a “buy” rating in a research report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Fortinet has an average rating of “Hold” and an average price target of $152.79.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Improved earnings outlook: Scotiabank raised its FY2026 EPS estimate for Fortinet to $3.10 from $2.77 and its FY2027 forecast to $3.42 from $2.95. The revisions suggest analysts see stronger profit growth ahead, although Scotiabank maintained a “Sector Perform” rating. Scotiabank Has Strong Forecast for Fortinet FY2027 Earnings
• Positive Sentiment: Potential earnings beat: Zacks included FTNT among five highly ranked stocks viewed as likely to exceed analysts’ bottom-line expectations in upcoming results. This could support the shares if Fortinet delivers on the forecast. Looking for Earnings Beat? Buy These 5 Top-Ranked Stocks
• Positive Sentiment: Industrial cybersecurity expansion: Rockwell Automation expanded its SecureOT managed-services offerings to support Fortinet firewalls, potentially increasing Fortinet’s visibility and adoption among manufacturers and operational-technology customers. Rockwell Automation Expands SecureOT Managed Services
• Neutral Sentiment: Analyst and media comparisons with CrowdStrike and Palo Alto Networks highlight Fortinet’s strong momentum, cybersecurity tailwinds and exposure to rising AI-related security needs, but do not represent new company-specific financial results. CrowdStrike vs. Fortinet
• Negative Sentiment: Valuation concerns remain the main pressure: After an approximately 224% three-year gain, investors are questioning whether Fortinet’s future free-cash-flow generation can justify its current price. Scotiabank’s $163 price target is also well below the recent trading level, reinforcing the risk of a valuation-driven pullback. Can Fortinet Stay Fully Priced on Future Cash Flow?

Fortinet Company Profile

Fortinet, Inc develops and provides cybersecurity products and services for businesses, governments, and service providers. The company’s portfolio is designed to protect networks, endpoints, applications, cloud environments, and operational technology from cyber threats.

Its offerings include FortiGate next-generation firewalls, FortiSwitch secure networking switches, FortiAP wireless access points, FortiClient endpoint security, and FortiSASE secure access service edge solutions. Fortinet also provides centralized management and analytics through products such as FortiManager and FortiAnalyzer, along with security operations, threat intelligence, and other subscription-based services through its FortiGuard portfolio.

Founded in 2000, Fortinet serves customers globally through direct sales, channel partners, and managed security service providers.