Fortinet, Inc. $FTNT Shares Bought by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC raised its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 5.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 58,043 shares of the software maker’s stock after acquiring an additional 3,157 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Fortinet were worth $9,228,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Elevation Wealth Partners LLC increased its holdings in shares of Fortinet by 53.6% during the second quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock valued at $33,000 after acquiring an additional 75 shares in the last quarter. Wexford Capital LP purchased a new position in shares of Fortinet in the 3rd quarter valued at approximately $25,000. Physician Wealth Advisors Inc. boosted its stake in Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after purchasing an additional 245 shares in the last quarter. Palisade Asset Management LLC purchased a new stake in Fortinet during the 3rd quarter worth approximately $28,000. Finally, Elyxium Wealth LLC purchased a new stake in Fortinet during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insiders Place Their Bets

In other Fortinet news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the transaction, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Michael Xie sold 3,121 shares of Fortinet stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.63, for a total value of $507,568.23. Following the transaction, the vice president owned 9,918,360 shares of the company’s stock, valued at $1,613,022,886.80. The trade was a 0.03% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 475,157 shares of company stock valued at $69,480,964. Company insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

FTNT has been the topic of a number of recent analyst reports. TD Cowen restated a “buy” rating and set a $215.00 price target (up from $160.00) on shares of Fortinet in a research note on Monday, July 13th. JPMorgan Chase & Co. lifted their price objective on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, May 7th. Arete Research set a $104.00 target price on Fortinet and gave the stock a “buy” rating in a research note on Monday, April 27th. DZ Bank lowered Fortinet from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Finally, UBS Group reaffirmed a “neutral” rating and set a $180.00 price target on shares of Fortinet in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, Fortinet has a consensus rating of “Hold” and an average price target of $150.91.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $161.89 on Wednesday. The company has a 50 day simple moving average of $154.14 and a two-hundred day simple moving average of $113.59. The stock has a market cap of $118.78 billion, a price-to-earnings ratio of 57.00, a PEG ratio of 3.11 and a beta of 1.07. 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 $172.09.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, analysts predict that Fortinet, Inc. will post 3.05 earnings per share for the current year.

About Fortinet

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.