MBL Wealth LLC Purchases 6,752 Shares of Fortinet, Inc. $FTNT

MBL Wealth LLC boosted its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 363.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,612 shares of the software maker’s stock after acquiring an additional 6,752 shares during the quarter. MBL Wealth LLC’s holdings in Fortinet were worth $1,539,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Fortinet during the 2nd quarter valued at $9,561,650,000. Bank of New York Mellon Corp bought a new stake in shares of Fortinet in the 2nd quarter worth $1,432,842,000. Legal & General Group Plc purchased a new position in shares of Fortinet in the second quarter worth $979,062,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Fortinet by 87.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock worth $788,682,000 after purchasing an additional 4,500,194 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Fortinet in the second quarter worth $656,852,000. 83.71% of the stock is owned by institutional investors.

Fortinet Stock Performance

NASDAQ:FTNT opened at $172.98 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. Fortinet, Inc. has a 12-month low of $73.55 and a 12-month high of $197.13. The stock has a 50-day moving average price of $170.07 and a 200 day moving average price of $145.84. The stock has a market capitalization of $126.92 billion, a P/E ratio of 60.91, a P/E/G ratio of 3.25 and a beta of 1.03.

Fortinet (NASDAQ:FTNT) last issued its earnings results 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. Fortinet had a return on equity of 191.54% and a net margin of 28.17%. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the company earned $0.64 EPS. The firm’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. Equities research analysts forecast that Fortinet, Inc. will post 3.10 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FTNT. Evercore set a $165.00 price target on Fortinet in a report on Thursday, July 30th. HC Wainwright reiterated a “buy” rating on shares of Fortinet in a report on Thursday, July 30th. Royal Bank Of Canada lifted their price objective on Fortinet from $185.00 to $205.00 and gave the stock a “sector perform” rating in a report on Monday, October 12th. TD Cowen reissued a “buy” rating and issued a $225.00 target price (up from $215.00) on shares of Fortinet in a research report on Tuesday, October 13th. Finally, BTIG Research increased their price objective on shares of Fortinet from $186.00 to $203.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have given a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, Fortinet has a consensus rating of “Hold” and an average price target of $161.75.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet’s integrated hardware-and-software model is presented as a competitive advantage versus Cisco and Palo Alto Networks, potentially supporting network-security growth, recurring revenue and long-term margins. Fortinet versus Cisco and Palo Alto Networks
• Positive Sentiment: Analysts expect double-digit year-over-year earnings-per-share growth when Fortinet reports its next quarterly results, keeping near-term fundamentals in focus. What to Expect From Fortinet’s Next Quarterly Earnings Report
• Positive Sentiment: Technical analysts say the stock has regained important support after a bullish reversal, with its rising trend channel suggesting potential recovery toward its prior high near $197. Fortinet Price Forecast
• Neutral Sentiment: Fortinet recently outperformed the broader market and has generated a 211% return over three years, but that performance raises the question of whether future cash generation can justify the stock’s elevated valuation. Can Fortinet Keep Trading at a Premium
• Negative Sentiment: Arete Research issued a rare double downgrade, moving Fortinet from “buy” to “sell” and assigning a $117 price target—well below the recent share price. The firm warned that several favorable growth drivers may peak in 2026, increasing concerns about slowing momentum and downside risk. Fortinet Downgrade by Arete Research

Insider Buying and Selling at Fortinet

In other news, COO John Whittle sold 2,835 shares of Fortinet stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $168.74, for a total transaction of $478,377.90. Following the sale, the chief operating officer owned 96,987 shares in the company, valued at $16,365,586.38. This trade represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 stock was 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 in the company, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. 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 sold a total of 221,303 shares of company stock valued at $36,164,034 in the last three months. 17.60% of the stock is currently owned by corporate insiders.

About Fortinet

Fortinet, Inc develops cybersecurity products and services designed to protect networks, endpoints, applications, cloud environments and operational technology systems. The company’s portfolio includes next-generation firewalls, secure networking products, endpoint security, web application security, email security, identity and access solutions, and security information and event management tools.

Its product offerings include FortiGate network security appliances and cloud-based firewalls, along with FortiSwitch, FortiAP and FortiExtender solutions for secure connectivity.