Proficio Capital Partners LLC Invests $1.23 Million in Fortinet, Inc. $FTNT

Proficio Capital Partners LLC acquired a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 7,990 shares of the software maker’s stock, valued at approximately $1,227,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nwam LLC bought a new stake in Fortinet during the 2nd quarter worth approximately $238,000. Clifford Swan Investment Counsel LLC acquired a new stake in Fortinet during the 2nd quarter worth approximately $240,000. Railway Pension Investments Ltd bought a new position in Fortinet in the second quarter valued at approximately $47,591,000. Moore Capital Management LP bought a new position in Fortinet in the second quarter valued at approximately $12,252,000. Finally, Sigma Planning Corp boosted its holdings in shares of Fortinet by 1.0% in the second quarter. Sigma Planning Corp now owns 7,927 shares of the software maker’s stock valued at $1,218,000 after buying an additional 80 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fortinet

In other Fortinet news, 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 value of $507,568.23. Following the completion of the sale, the vice president owned 9,918,360 shares in the company, valued at $1,613,022,886.80. This trade represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through 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, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction dated 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 completion of 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. 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. 17.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. William Blair reissued a “market perform” rating on shares of Fortinet in a research report on Tuesday, July 21st. HC Wainwright reaffirmed a “buy” rating on shares of Fortinet in a research note on Thursday, July 30th. Evercore set a $165.00 target price on Fortinet in a report on Thursday, July 30th. HSBC cut Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 target price for the company. in a report on Monday, June 29th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $190.00 price target on shares of Fortinet in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twenty have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, Fortinet presently has an average rating of “Hold” and an average price target of $150.91.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $161.85 on Wednesday. The stock has a 50 day moving average price of $158.47 and a 200 day moving average price of $121.77. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $173.89. 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 stock has a market capitalization of $118.75 billion, a PE ratio of 56.99, a price-to-earnings-growth ratio of 3.24 and a beta of 1.06.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.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 previous year, the firm earned $0.64 EPS. The business’s quarterly revenue was up 25.6% on a year-over-year basis. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Analysts predict that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

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.