17,295 Shares in Fortinet, Inc. $FTNT Bought by RB Capital Management LLC

RB Capital Management LLC bought a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 17,295 shares of the software maker’s stock, valued at approximately $2,657,000.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Fortinet in the 2nd quarter valued at about $9,561,650,000. State Street Corp raised its position in Fortinet by 1.6% during the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after acquiring an additional 477,397 shares in the last quarter. Norges Bank purchased a new position in Fortinet during the fourth quarter valued at approximately $1,152,917,000. Bank of New York Mellon Corp lifted its holdings in Fortinet by 6.6% in the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock valued at $1,151,810,000 after acquiring an additional 893,190 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Fortinet by 45.5% in the first quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock valued at $940,284,000 after acquiring an additional 3,598,487 shares during the period. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Price Performance

Fortinet stock opened at $166.00 on Friday. The stock has a market capitalization of $121.80 billion, a P/E ratio of 58.45, a P/E/G ratio of 3.28 and a beta of 1.07. The company’s fifty day moving average price is $157.68 and its 200 day moving average price is $120.40. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. Fortinet, Inc. has a 1 year low of $73.55 and a 1 year high of $173.89.

Fortinet (NASDAQ:FTNT) last posted 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. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the prior year, the business 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. As a group, equities research analysts anticipate that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Ken Xie sold 161,482 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were 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 approximately $8,616,486,029.52. This trade represents a 0.30% decrease in their position. The sale 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 3,907 shares of Fortinet stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the sale, the vice president owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 329,142 shares of company stock valued at $50,731,178. Insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Zacks Research raised shares of Fortinet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Piper Sandler reissued a “neutral” rating and set a $175.00 price target (up from $110.00) on shares of Fortinet in a report on Thursday, July 30th. William Blair restated a “market perform” rating on shares of Fortinet in a research report on Tuesday, July 21st. Bank of America reiterated a “buy” rating on shares of Fortinet in a research report on Monday, July 27th. Finally, Susquehanna raised their target price on Fortinet from $115.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $150.91.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet Federal, a wholly owned subsidiary, earned CMMC Level 2 certification after validating 110 NIST SP 800-171 controls. The certification could improve Fortinet’s credibility with U.S. government agencies and defense contractors seeking compliant cybersecurity providers. Fortinet Federal’s New CMMC Level 2 Certification
• Positive Sentiment: Analysts continue to point to platform adoption, artificial-intelligence security products, product expansion and CMMC-related demand as potential growth drivers across enterprise and government markets. Fortinet Stock Surges on Security Platform Momentum
• Positive Sentiment: A new multi-year sponsorship agreement with Stanford Athletics supports Fortinet’s brand visibility, although the financial impact is likely modest compared with its core business. Stanford Athletics and Fortinet Sponsorship
• Neutral Sentiment: Fortinet recently moved above its 20-day moving average, signaling short-term technical momentum. However, technical support can also encourage profit-taking after a large advance. Fortinet Crosses Above Its 20-Day Moving Average
• Negative Sentiment: Valuation is a key overhang. With the stock near its annual high and trading at roughly 58 times earnings, investors may be demanding continued strong execution, leaving limited room for disappointment. Fortinet Valuation Leaves Limited Margin of Safety
• Negative Sentiment: Insider-trading data shows executives made no open-market purchases and reported multiple sales over the past six months. In addition, the reported median analyst price target of $115 is below recent trading levels, reinforcing concerns that expectations may have become excessive.

Fortinet Company 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.