OneAscent Financial Services LLC Invests $571,000 in Fortinet, Inc. $FTNT

OneAscent Financial Services LLC purchased a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,719 shares of the software maker’s stock, valued at approximately $571,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Physician Wealth Advisors Inc. increased its holdings in Fortinet by 408.3% during 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 during the period. Dunhill Financial LLC purchased a new position in shares of Fortinet during the second quarter valued at $25,000. Wexford Capital LP bought a new stake in shares of Fortinet in the third quarter valued at about $25,000. Elyxium Wealth LLC bought a new stake in shares of Fortinet in the fourth quarter valued at about $27,000. Finally, Palisade Asset Management LLC purchased a new stake in Fortinet in the third quarter worth about $28,000. Institutional investors own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on FTNT shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $160.00 target price on shares of Fortinet in a research report on Thursday, July 30th. Susquehanna upped their price target on shares of Fortinet from $115.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. TD Cowen reiterated a “buy” rating and set a $215.00 price objective (up from $160.00) on shares of Fortinet in a research note on Monday, July 13th. UBS Group reissued a “neutral” rating and set a $180.00 price objective on shares of Fortinet in a report on Thursday, July 30th. Finally, Morgan Stanley reissued a “positive” rating and issued a $136.00 price objective (up from $133.00) on shares of Fortinet in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortinet currently has a consensus rating of “Hold” and a consensus price target of $150.91.

Fortinet Trading Down 1.3%

NASDAQ:FTNT opened at $150.79 on Friday. The stock has a market capitalization of $110.64 billion, a price-to-earnings ratio of 53.10, a PEG ratio of 2.90 and a beta of 1.07. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $172.09. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average of $156.10 and a 200 day moving average of $117.36.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.15. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the previous year, the company earned $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. As a group, sell-side analysts anticipate that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the 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 completion of the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.63, for a total value of $507,568.23. Following the completion of the sale, the vice president directly 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. 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 sold a total of 329,142 shares of company stock valued at $50,731,178 in the last three months. Insiders own 17.60% of the company’s stock.

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.