Engineers Gate Manager LP Sells 246,286 Shares of Fortinet, Inc. $FTNT

Engineers Gate Manager LP cut its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 80.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,033 shares of the software maker’s stock after selling 246,286 shares during the period. Engineers Gate Manager LP’s holdings in Fortinet were worth $9,376,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC lifted its stake in shares of Fortinet by 53.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after acquiring an additional 75 shares during the last quarter. Sigma Planning Corp increased its stake in Fortinet by 1.0% in the second quarter. Sigma Planning Corp now owns 7,927 shares of the software maker’s stock worth $1,218,000 after purchasing an additional 80 shares during the period. Cornerstone Financial Management LLC lifted its position in shares of Fortinet by 102.5% during the second quarter. Cornerstone Financial Management LLC now owns 164 shares of the software maker’s stock worth $25,000 after purchasing an additional 83 shares during the last quarter. Florida Financial Advisors LLC lifted its position in shares of Fortinet by 3.0% during the first quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock worth $309,000 after purchasing an additional 109 shares during the last quarter. Finally, Optimist Retirement Group LLC boosted its stake in shares of Fortinet by 2.5% during the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock valued at $398,000 after purchasing an additional 122 shares during the period. 83.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fortinet

In other news, VP Michael Xie sold 3,121 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 on 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 of the company’s stock, valued at $8,616,486,029.52. The trade was a 0.30% 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. 17.60% of the stock is currently owned by insiders.

Fortinet Price Performance

FTNT opened at $158.85 on Friday. The firm has a market capitalization of $116.55 billion, a PE ratio of 55.93, a price-to-earnings-growth ratio of 2.98 and a beta of 1.06. 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 business’s 50-day moving average is $158.99 and its two-hundred day moving average is $125.41. Fortinet, Inc. has a 1 year low of $73.55 and a 1 year high of $173.89.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating the consensus estimate of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The company’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. Research analysts anticipate that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FTNT has been the subject of a number of research analyst reports. TD Cowen reiterated a “buy” rating and set a $215.00 price objective (up from $160.00) on shares of Fortinet in a report on Monday, July 13th. HSBC downgraded shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 target price on the stock. in a research note on Monday, June 29th. Susquehanna lifted their price target on shares of Fortinet from $115.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Wolfe Research set a $175.00 price objective on Fortinet in a research note on Thursday, July 30th. Finally, Truist Financial set a $183.00 price objective on Fortinet and gave the stock a “buy” rating in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Fortinet has an average rating of “Hold” and a consensus price target of $150.91.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Gartner recognition reinforces Fortinet’s competitive position. Fortinet was named a Leader in the 2026 Gartner Magic Quadrant for Hybrid Mesh Firewall and ranked highest for Ability to Execute for the second consecutive year. The recognition highlights adoption of its FortiGate and FortiOS platform across physical, cloud, virtual and as-a-service environments, as well as investments in AI, secure networking, multi-cloud orchestration and post-quantum cryptography. Fortinet Named a Leader in the 2026 Gartner Magic Quadrant Report
• Positive Sentiment: Growth and guidance support the bullish case. Recent results showed revenue rising approximately 26% year over year to about $2.05 billion, while earnings exceeded analyst expectations. Fortinet also raised its 2026 outlook, and ongoing demand for AI-related security products and expanding margins could help justify the stock’s elevated valuation. Is FTNT Stock Worth Buying at a Premium P/S or Should Investors Wait?
• Neutral Sentiment: Short-interest data provides little useful signal. Reported short interest was zero, with a zero-day short-interest ratio, but the accompanying percentage change was listed as “NaN,” suggesting a data-quality issue rather than a meaningful change in bearish positioning.
• Negative Sentiment: Valuation and analyst caution could limit further upside. Fortinet trades at a rich earnings and sales multiple after a substantial rally. Some analysts continue to question whether growth can remain strong enough to support the premium, with several ratings below Buy and a median reported price target well below the current trading level.
• Negative Sentiment: Insider selling is a potential overhang. Reported insider activity over the past six months included 36 sales and no purchases, including substantial sales by CEO Ken Xie. While such transactions may reflect compensation or portfolio diversification, the absence of insider buying can weigh on investor sentiment.

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.