SCS Capital Management LLC Makes New Investment in Fortinet, Inc. $FTNT

SCS Capital Management LLC bought a new position in Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,106 shares of the software maker’s stock, valued at approximately $2,321,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Silverlake Wealth Management LLC bought a new stake in shares of Fortinet during the second quarter worth $253,000. Bank of New York Mellon Corp acquired a new position in Fortinet in the 2nd quarter worth about $1,432,842,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Fortinet during the second quarter valued at about $3,239,000. State of Wyoming bought a new stake in shares of Fortinet during the second quarter worth about $643,000. Finally, ABN AMRO Bank N.V. bought a new position in Fortinet in the 2nd quarter valued at approximately $226,000. 83.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FTNT. Royal Bank Of Canada set a $185.00 price objective on shares of Fortinet and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. TD Cowen reiterated a “buy” rating and set a $215.00 price objective (up from $160.00) on shares of Fortinet in a research report on Monday, July 13th. Stifel Nicolaus set a $175.00 target price on Fortinet and gave the company a “hold” rating in a research report on Thursday, July 30th. Robert W. Baird set a $165.00 price objective on shares of Fortinet in a research note on Thursday, July 30th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $190.00 price objective 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 issued a Buy rating, eighteen have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $150.91.

Insider Buying and Selling at Fortinet

In other 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 sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ken Xie sold 161,482 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $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 475,157 shares of company stock valued at $69,480,964 in the last 90 days. Corporate insiders own 17.60% of the company’s stock.

Fortinet Stock Performance

Shares of FTNT stock opened at $160.01 on Monday. Fortinet, Inc. has a 1 year low of $73.55 and a 1 year high of $172.09. The company’s fifty day simple moving average is $155.05 and its two-hundred day simple moving average is $115.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. The stock has a market capitalization of $117.40 billion, a price-to-earnings ratio of 56.34, a PEG ratio of 3.03 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the company posted $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. As a group, analysts anticipate 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.