Fortinet, Inc. $FTNT Shares Acquired by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC boosted its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 43.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,655 shares of the software maker’s stock after acquiring an additional 4,726 shares during the period. Kestra Private Wealth Services LLC’s holdings in Fortinet were worth $1,279,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Optimist Retirement Group LLC raised its position in Fortinet by 2.5% in the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock valued at $398,000 after purchasing an additional 122 shares during the period. PDS Planning Inc grew its holdings in shares of Fortinet by 3.1% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock worth $326,000 after purchasing an additional 123 shares during the period. GW&K Investment Management LLC increased its position in shares of Fortinet by 31.4% during the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock worth $41,000 after purchasing an additional 123 shares during the last quarter. Delta Investment Management LLC increased its position in shares of Fortinet by 2.4% during the 4th quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock worth $417,000 after purchasing an additional 125 shares during the last quarter. Finally, Catalyst Capital Advisors LLC raised its holdings in Fortinet by 2.0% in the 4th quarter. Catalyst Capital Advisors LLC now owns 6,459 shares of the software maker’s stock valued at $513,000 after buying an additional 128 shares during the period. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Bernstein upgraded Fortinet to Hold, adding to a recent wave of analyst attention that can help support sentiment around the stock. Fortinet (FTNT) Gets a Hold from Bernstein
• Positive Sentiment: Articles highlighting Fortinet’s FortiGate expansion, cloud platform growth, and the raised 2026 guidance suggest investors remain focused on execution and growth potential. Is Fortinet Stock Attractive With FortiGate and Cloud Platform Growth?
• Positive Sentiment: Liquid Networx expanded Fortinet licensing and professional services through AWS and Azure Marketplace, which could broaden Fortinet’s reach in cloud channels and support adoption. Liquid Networx Expands Fortinet Security Offerings via AWS and Azure Marketplace
• Neutral Sentiment: Several recent pieces note that Fortinet has outperformed the market and that analysts are revisiting the stock after its strong earnings and raised guidance, reinforcing momentum but not changing the story materially. Why Fortinet (FTNT) Outpaced the Stock Market Today
• Negative Sentiment: A new sell recommendation for Fortinet adds a bearish counterpoint and may be weighing on shares despite otherwise constructive news flow. Fortinet (FTNT): New Sell Recommendation for This Technology Giant

Fortinet Stock Performance

NASDAQ FTNT opened at $153.62 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. The company has a market cap of $112.55 billion, a P/E ratio of 59.31, a P/E/G ratio of 4.25 and a beta of 1.11. The stock has a 50-day moving average of $125.92 and a two-hundred day moving average of $96.71. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $159.07.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the company earned $0.58 earnings per share. The business’s quarterly revenue was up 20.1% on a year-over-year basis. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, analysts anticipate that Fortinet, Inc. will post 2.78 EPS for the current year.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the transaction, the vice president owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. This trade represents a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 318,387 shares of company stock worth $43,403,063 in the last ninety days. 17.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FTNT has been the topic of a number of recent analyst reports. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $70.00 target price (up from $64.00) on shares of Fortinet in a research report on Thursday, May 7th. TD Cowen reissued a “buy” rating and issued a $160.00 price target (up from $125.00) on shares of Fortinet in a research note on Monday, June 8th. JPMorgan Chase & Co. upped their price objective on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. BMO Capital Markets increased their price objective on shares of Fortinet from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. Finally, HSBC downgraded shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 target price for the company. in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $107.58.

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.