Sax Wealth Advisors LLC Buys 2,988 Shares of Fortinet, Inc. $FTNT

Sax Wealth Advisors LLC purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,988 shares of the software maker’s stock, valued at approximately $534,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of FTNT. BlackRock Inc. acquired a new position in shares of Fortinet in the 2nd quarter valued at $9,561,650,000. Bank of New York Mellon Corp bought a new position in shares of Fortinet during the 2nd quarter worth about $1,432,842,000. Legal & General Group Plc acquired a new stake in shares of Fortinet during the 2nd quarter valued at about $979,062,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Fortinet by 87.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock valued at $788,682,000 after acquiring an additional 4,500,194 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in Fortinet in the second quarter valued at about $656,852,000. Institutional investors own 83.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FTNT. Susquehanna increased their price target on shares of Fortinet from $115.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Roth Capital lifted their price objective on Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $190.00 price objective (up from $116.00) on shares of Fortinet in a report on Thursday, July 30th. Mizuho set a $160.00 price objective on Fortinet and gave the company an “underperform” rating in a research note on Thursday. Finally, Zacks Research upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-one have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, Fortinet has a consensus rating of “Hold” and an average target price of $159.09.

Insider Buying and Selling at Fortinet

In other news, COO John Whittle sold 53,865 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $165.44, for a total transaction of $8,911,425.60. Following the completion of the sale, the chief operating officer owned 96,987 shares of the company’s stock, valued at approximately $16,045,529.28. This trade represents a 35.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $8,616,486,029.52. The trade was 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. Insiders have sold a total of 221,303 shares of company stock worth $36,164,034 over the last ninety days. Corporate 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: Fortinet and Atos expanded their longstanding relationship into a global cybersecurity framework for hybrid- and multi-cloud environments. The arrangement combines Fortinet’s security products with Atos’ managed-security services and consulting, potentially broadening Fortinet’s enterprise reach and recurring services opportunity. Fortinet Expands Global Cybersecurity Framework
• Positive Sentiment: Recent commentary highlighted Fortinet’s SASE growth, rising services revenue and comparatively lower valuation versus Cloudflare, supporting the view that the company remains a long-term cybersecurity growth candidate. NET vs. FTNT
• Neutral Sentiment: Investor attention is also focused on upcoming earnings. Fortinet’s most recent reported quarter showed revenue growth and earnings above analyst expectations, although the stock’s elevated valuation leaves the market sensitive to any guidance or results that fall short of expectations. Fortinet Shares Jump with Earnings on Horizon
• Negative Sentiment: Wells Fargo raised its Fortinet price target but maintained an “underweight” rating; the new target remains below the stock’s current level, signaling concern that expectations may be too high.
• Negative Sentiment: Reports that OpenAI could acquire a cybersecurity startup pressured major cybersecurity stocks, including Fortinet. The possibility of a well-funded new competitor is raising concerns about future pricing, innovation and market-share dynamics across the sector. OpenAI Cybersecurity Deal Impacts Sector

Fortinet Stock Down 1.2%

Shares of NASDAQ:FTNT opened at $181.91 on Friday. The company’s fifty day moving average is $169.14 and its 200-day moving average is $142.66. 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 $197.13. The company has a market capitalization of $133.47 billion, a PE ratio of 64.05, a P/E/G ratio of 3.44 and a beta of 1.03.

Fortinet (NASDAQ:FTNT) last posted its 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. The business 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%. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior 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. Equities research analysts predict that Fortinet, Inc. will post 3.10 earnings per share for the current fiscal year.

Fortinet 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.