UNIVEST FINANCIAL Corp Acquires New Holdings in Fortinet, Inc. $FTNT

UNIVEST FINANCIAL Corp bought a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 71,812 shares of the software maker’s stock, valued at approximately $11,032,000.

Several other hedge funds also recently modified their holdings of FTNT. Dunhill Financial LLC acquired a new stake in shares of Fortinet in the 2nd quarter valued at $25,000. Elevation Wealth Partners LLC increased its position in Fortinet by 53.6% during the second quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after buying an additional 75 shares during the last quarter. Wexford Capital LP bought a new position in Fortinet during the third quarter valued at about $25,000. Physician Wealth Advisors Inc. raised its holdings in Fortinet by 408.3% during the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after buying an additional 245 shares in the last quarter. Finally, Palisade Asset Management LLC acquired a new stake in shares of Fortinet in the third quarter worth about $28,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Activity

In other Fortinet news, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the sale, the chief executive officer owned 52,972,372 shares in the company, valued at $8,616,486,029.52. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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. Also, VP Michael Xie sold 3,121 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the transaction, the vice president owned 9,918,360 shares of the company’s stock, valued at approximately $1,613,022,886.80. This represents a 0.03% 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. Over the last ninety days, insiders have sold 475,157 shares of company stock worth $69,480,964. Company insiders own 17.60% of the company’s stock.

Fortinet Stock Down 2.6%

NASDAQ FTNT opened at $155.85 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. The firm has a 50-day simple moving average of $155.31 and a 200 day simple moving average of $115.83. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $172.09. The stock has a market cap of $114.35 billion, a PE ratio of 54.88, a PEG ratio of 3.03 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last issued its quarterly 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. The firm 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 company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, research analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on FTNT. Citigroup increased their price objective on Fortinet from $165.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Arete Research set a $104.00 target price on Fortinet and gave the stock a “buy” rating in a research report on Monday, April 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $185.00 price target (up from $165.00) on shares of Fortinet in a report on Thursday, July 30th. Morgan Stanley reissued a “positive” rating and issued a $136.00 price target (up from $133.00) on shares of Fortinet in a research report on Thursday, July 30th. Finally, Mizuho set a $125.00 target price on shares of Fortinet and gave the stock an “underperform” rating in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $150.91.

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.