IFP Advisors Inc Sells 5,839 Shares of Fortinet, Inc. $FTNT

IFP Advisors Inc trimmed its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 13.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,521 shares of the software maker’s stock after selling 5,839 shares during the quarter. IFP Advisors Inc’s holdings in Fortinet were worth $5,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in FTNT. Physician Wealth Advisors Inc. increased its position in shares of 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 acquiring an additional 245 shares during the last quarter. Dunhill Financial LLC bought a new position in Fortinet in the 2nd quarter valued at $25,000. Burk Holdings LLC bought a new position in Fortinet in the 2nd quarter valued at $25,000. Cornerstone Financial Management LLC increased its position in shares of Fortinet by 102.5% during the 2nd quarter. Cornerstone Financial Management LLC now owns 164 shares of the software maker’s stock valued at $25,000 after purchasing an additional 83 shares during the last quarter. Finally, Wexford Capital LP purchased a new stake in shares of Fortinet during the 3rd quarter valued at $25,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling

In related news, VP Michael Xie sold 3,121 shares of the company’s stock in a transaction that occurred 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 sale, the vice president directly owned 9,918,360 shares in the company, valued at approximately $1,613,022,886.80. This represents a 0.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was 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 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 17.60% of the company’s stock.

Fortinet Stock Down 0.2%

Shares of NASDAQ FTNT opened at $157.22 on Thursday. 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 $115.35 billion, a PE ratio of 55.36, a P/E/G ratio of 2.99 and a beta of 1.06. Fortinet, Inc. has a one year low of $73.55 and a one year high of $173.89. The business’s fifty day moving average price is $158.94 and its 200-day moving average price is $124.86.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data 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 company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the firm posted $0.64 EPS. The firm’s revenue for the quarter 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. On average, equities research analysts anticipate that Fortinet, Inc. will post 3.05 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America reissued a “buy” rating on shares of Fortinet in a report on Monday, July 27th. Cantor Fitzgerald restated a “neutral” rating on shares of Fortinet in a report on Monday, August 24th. HSBC lowered shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price objective on the stock. in a research report on Monday, June 29th. Mizuho set a $125.00 target price on shares of Fortinet and gave the company an “underperform” rating in a research note on Wednesday, July 15th. Finally, Citigroup increased their target price on shares of Fortinet from $165.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and an average target price of $150.91.

Fortinet Company Profile

Fortinet, Inc develops cybersecurity products and services designed to protect enterprise, small and midsize business, service provider, and government networks. Its portfolio covers network security, endpoint protection, cloud security, secure access service edge (SASE), security operations, and zero-trust access.

The company’s offerings include FortiGate next-generation firewalls, FortiSwitch secure networking switches, FortiAP wireless access points, FortiClient endpoint security, and FortiManager and FortiAnalyzer management and analytics tools.