KMG Fiduciary Partners LLC Sells 5,127 Shares of Fortinet, Inc. $FTNT

KMG Fiduciary Partners LLC decreased its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 7.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,423 shares of the software maker’s stock after selling 5,127 shares during the quarter. Fortinet comprises approximately 1.0% of KMG Fiduciary Partners LLC’s investment portfolio, making the stock its 26th largest position. KMG Fiduciary Partners LLC’s holdings in Fortinet were worth $10,622,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Fortinet during the second quarter worth $9,561,650,000. 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 buying an additional 3,598,487 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Fortinet by 87.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock valued at $788,682,000 after buying an additional 4,500,194 shares during the period. Bank of New York Mellon Corp acquired a new position in Fortinet in the second quarter valued at $1,432,842,000. Finally, Legal & General Group Plc bought a new stake in Fortinet during the second quarter valued at $979,062,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Performance

Shares of Fortinet stock opened at $190.76 on Wednesday. The business has a 50-day simple moving average of $168.31 and a 200 day simple moving average of $141.21. Fortinet, Inc. has a one year low of $73.55 and a one year high of $197.13. 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 capitalization of $139.96 billion, a price-to-earnings ratio of 67.17, a PEG ratio of 3.60 and a beta of 1.03.

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, 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 business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the company earned $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. On average, research analysts anticipate that Fortinet, Inc. will post 3.10 earnings per share for the current fiscal year.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Barclays raised its price target for Fortinet from $190 to $210, signaling greater confidence in the company’s growth outlook and AI-related cybersecurity opportunity. Barclays raises target for Fortinet stock
• Positive Sentiment: Fortinet’s participation at GovWare 2026 in Singapore highlighted its AI-enabled security and networking products, potentially strengthening its position in Asia and the growing AI-security market. Fortinet AI security push and GovWare 2026
• Positive Sentiment: Recent coverage emphasized Fortinet’s record margins, repeated earnings beats, positive estimate revisions and raised 2026 guidance. These factors support the company’s profitability narrative despite broader cost pressures. Fortinet strong margin profile
• Neutral Sentiment: Fortinet scheduled its next results for October 28. The report could become the next major catalyst, particularly because investors will be looking for confirmation of the company’s guidance and AI-security demand. Fortinet schedules October 28 results
• Negative Sentiment: Analysts and commentary increasingly characterize FTNT as expensive after its substantial 2026 advance. One analysis estimated the shares could be about 54% overvalued, increasing the risk of consolidation or profit-taking even after better-than-expected earnings. Fortinet could be overvalued
• Negative Sentiment: Potential headwinds include rising chip costs and unfavorable product-mix changes, which could pressure Fortinet’s unusually strong margins. The stock’s high valuation makes it particularly sensitive to any earnings or guidance disappointment. Fortinet valuation downgrade

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 161,482 shares of the 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 transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, COO John Whittle sold 53,865 shares of Fortinet stock in a transaction on Monday, September 14th. The shares were sold at an average price of $165.44, for a total transaction of $8,911,425.60. Following the completion of the sale, the chief operating officer directly owned 96,987 shares of the company’s stock, valued at approximately $16,045,529.28. The trade was a 35.71% 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. Insiders have sold 221,303 shares of company stock valued at $36,164,034 over the last ninety days. 17.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wall Street Zen upgraded Fortinet from a “hold” rating to a “buy” rating in a report on Saturday. Cantor Fitzgerald reissued a “neutral” rating on shares of Fortinet in a research note on Monday, August 24th. Mizuho set a $125.00 price objective on Fortinet and gave the company an “underperform” rating in a research note on Wednesday, July 15th. Truist Financial set a $183.00 target price on Fortinet and gave the company a “buy” rating in a research report on Tuesday, July 21st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $190.00 target price (up from $116.00) on shares of Fortinet in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-one have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, Fortinet currently has an average rating of “Hold” and an average target price of $156.80.

Fortinet Company Profile

Fortinet, Inc develops and provides cybersecurity products and services for businesses, governments, and service providers. The company’s portfolio is designed to protect networks, endpoints, applications, cloud environments, and operational technology from cyber threats.

Its offerings include FortiGate next-generation firewalls, FortiSwitch secure networking switches, FortiAP wireless access points, FortiClient endpoint security, and FortiSASE secure access service edge solutions. Fortinet also provides centralized management and analytics through products such as FortiManager and FortiAnalyzer, along with security operations, threat intelligence, and other subscription-based services through its FortiGuard portfolio.

Founded in 2000, Fortinet serves customers globally through direct sales, channel partners, and managed security service providers.