4,279 Shares of Fortinet, Inc. $FTNT Bought by Partners Wealth Management LLC

Partners Wealth Management LLC purchased a new position in Fortinet, Inc. (NASDAQ:FTNT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,279 shares of the software maker’s stock, valued at approximately $765,000.

A number of other hedge funds also recently bought and sold shares of FTNT. Soltis Investment Advisors LLC lifted its position in shares of Fortinet by 244.0% during the 3rd quarter. Soltis Investment Advisors LLC now owns 17,828 shares of the software maker’s stock valued at $3,187,000 after buying an additional 12,645 shares in the last quarter. Founders Financial Securities LLC acquired a new stake in Fortinet in the 3rd quarter valued at $987,000. ERn Financial LLC purchased a new stake in Fortinet in the 3rd quarter worth $233,000. Choreo LLC increased its holdings in Fortinet by 3.3% in the 3rd quarter. Choreo LLC now owns 16,143 shares of the software maker’s stock worth $2,886,000 after acquiring an additional 518 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Fortinet by 12.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 24,724 shares of the software maker’s stock worth $4,350,000 after acquiring an additional 2,664 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Stock Down 2.2%

Shares of FTNT opened at $136.08 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.19 and a current ratio of 1.40. Fortinet, Inc. has a one year low of $73.55 and a one year high of $197.13. The stock has a market capitalization of $99.84 billion, a price-to-earnings ratio of 44.18, a PEG ratio of 2.59 and a beta of 1.03. The stock has a 50 day moving average price of $171.34 and a 200 day moving average price of $128.28.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, October 28th. The software maker reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. Fortinet had a return on equity of 152.72% and a net margin of 28.96%. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 EPS. Equities research analysts forecast that Fortinet, Inc. will post 3.11 earnings per share for the current fiscal year.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet reported third-quarter revenue of approximately $2.08 billion, up 20.5% year over year, and adjusted EPS of $0.91, exceeding consensus estimates. Billings increased 29%, while operating margins reached a record. Fortinet Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Management raised full-year 2026 guidance to $8.1 billion-$8.2 billion in revenue and $3.54-$3.58 in EPS. Fourth-quarter EPS guidance of $0.93-$0.95 also exceeds the consensus estimate of $0.86. Fortinet Raises Guidance
• Positive Sentiment: The board authorized an additional $1.2 billion in share repurchases, and quarterly free cash flow was approximately $865 million. Analysts at TD Cowen, Rosenblatt and Truist retained bullish ratings despite lowering their price targets. Fortinet Adds to Buyback Program
• Neutral Sentiment: Fortinet is technically oversold after a sharp multi-week decline, while rising earnings estimates could support a rebound. However, the technical signal does not resolve concerns about the company’s growth mix. Fortinet May See a Trend Reversal
• Negative Sentiment: Service revenue grew only 13%, versus 37% growth in product revenue. Investors are concerned that hardware sales tied to AI infrastructure are not converting into recurring services quickly enough, reducing near-term revenue visibility. The Real Reason Fortinet Dropped
• Negative Sentiment: Management lowered its services outlook, while fourth-quarter revenue guidance implies growth deceleration from the third quarter. Normalizing pricing benefits, higher inventory costs and longer component lead times added to investor concerns.
• Negative Sentiment: Wells Fargo cut its price target to $115 and assigned an underweight rating; Susquehanna lowered its target to $145 and rated the shares neutral. Other firms, including Bank of America, Citi, Barclays and Scotiabank, also reduced targets or ratings. Analysts Cut Fortinet Forecasts
• Negative Sentiment: The broader technology and cybersecurity sell-off is amplifying the reaction, despite a major cryptocurrency hack highlighting demand for digital security. Investors are also questioning whether Fortinet’s premium valuation remains justified as growth slows.

Insider Transactions at Fortinet

In other news, VP Michael Xie sold 3,121 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.63, for a total value 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 trade represents a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 2,835 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $168.74, for a total transaction of $478,377.90. Following the transaction, the chief operating officer owned 96,987 shares in the company, valued at $16,365,586.38. The trade was a 2.84% 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. Insiders sold 221,303 shares of company stock valued at $36,164,034 over the last 90 days. 17.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Rosenblatt Securities decreased their price objective on shares of Fortinet from $195.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday. TD Cowen dropped their target price on shares of Fortinet from $225.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday. Scotiabank cut their target price on shares of Fortinet from $163.00 to $140.00 and set a “sector perform” rating for the company in a research note on Thursday. Wolfe Research set a $175.00 price target on shares of Fortinet in a research report on Thursday, July 30th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $145.00 price target (down from $185.00) on shares of Fortinet in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-four have issued a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $147.94.

Fortinet Profile

Fortinet, Inc develops cybersecurity products and services designed to protect networks, endpoints, applications, cloud environments and operational technology systems. The company’s portfolio includes next-generation firewalls, secure networking products, endpoint security, web application security, email security, identity and access solutions, and security information and event management tools.

Its product offerings include FortiGate network security appliances and cloud-based firewalls, along with FortiSwitch, FortiAP and FortiExtender solutions for secure connectivity.