Fortinet, Inc. $FTNT Stock Holdings Decreased by RFG Advisory LLC

RFG Advisory LLC lowered its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 29.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,581 shares of the software maker’s stock after selling 5,563 shares during the quarter. RFG Advisory LLC’s holdings in Fortinet were worth $2,086,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Elevation Wealth Partners LLC raised its stake in Fortinet by 53.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock valued at $33,000 after purchasing an additional 75 shares during the period. Sigma Planning Corp lifted 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 purchasing an additional 80 shares in the last quarter. Cornerstone Financial Management LLC boosted its position in shares of Fortinet by 102.5% in the second quarter. Cornerstone Financial Management LLC now owns 164 shares of the software maker’s stock worth $25,000 after buying an additional 83 shares during the period. Florida Financial Advisors LLC boosted its position in shares of Fortinet by 3.0% in the first quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock worth $309,000 after buying an additional 109 shares during the period. Finally, Optimist Retirement Group LLC grew its holdings 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 buying an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Stock Performance

Shares of FTNT stock opened at $158.85 on Friday. Fortinet, Inc. has a fifty-two week low of $73.55 and a fifty-two week high of $173.89. The stock’s 50-day moving average is $158.99 and its two-hundred day moving average is $125.41. 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 firm has a market cap of $116.55 billion, a P/E ratio of 55.93, a PEG ratio of 2.98 and a beta of 1.06.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.15. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The firm’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. 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.

Analyst Ratings Changes

FTNT has been the subject of several research analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $190.00 price objective on shares of Fortinet in a research note on Thursday, July 30th. Piper Sandler reissued a “neutral” rating and issued a $175.00 price target (up from $110.00) on shares of Fortinet in a research report on Thursday, July 30th. Royal Bank Of Canada set a $185.00 price target on shares of Fortinet and gave the stock a “sector perform” rating in a report on Thursday, July 30th. TD Cowen reaffirmed a “buy” rating and set a $215.00 price objective (up from $160.00) on shares of Fortinet in a research report on Monday, July 13th. Finally, DZ Bank lowered shares of Fortinet from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $150.91.

Insider Buying and Selling

In other news, CEO Ken Xie sold 161,482 shares of the stock in a transaction on 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 transaction, the chief executive officer owned 52,972,372 shares in the company, valued at $8,616,486,029.52. This represents a 0.30% decrease in their position. The sale was disclosed in a document filed 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, VP Michael Xie sold 3,121 shares of the firm’s stock in a transaction 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 transaction, the vice president owned 9,918,360 shares in the company, valued at $1,613,022,886.80. This represents a 0.03% 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 owned by insiders.

Fortinet News Summary

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.