Fortinet, Inc. $FTNT Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC increased its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 6.8% in the third quarter, HoldingsChannel reports. The firm owned 849,655 shares of the software maker’s stock after purchasing an additional 53,878 shares during the period. ProShare Advisors LLC’s holdings in Fortinet were worth $151,884,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Puff Wealth Management LLC grew its holdings in shares of Fortinet by 3.4% during the third quarter. Puff Wealth Management LLC now owns 1,660 shares of the software maker’s stock worth $297,000 after purchasing an additional 54 shares during the last quarter. Columbus Macro LLC raised its stake in Fortinet by 1.9% in the 3rd quarter. Columbus Macro LLC now owns 2,981 shares of the software maker’s stock valued at $533,000 after acquiring an additional 55 shares during the period. Signaturefd LLC increased its holdings in shares of Fortinet by 0.3% during the third quarter. Signaturefd LLC now owns 19,581 shares of the software maker’s stock worth $3,500,000 after purchasing an additional 59 shares during the period. Hutchens & Kramer Investment Management Group LLC raised its stake in Fortinet by 1.9% during the third quarter. Hutchens & Kramer Investment Management Group LLC now owns 3,525 shares of the software maker’s stock worth $630,000 after acquiring an additional 66 shares in the last quarter. Finally, Kintegral Advisory LLC increased its position in Fortinet by 0.6% in the 3rd quarter. Kintegral Advisory LLC now owns 12,648 shares of the software maker’s stock valued at $2,261,000 after acquiring an additional 71 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Price Performance

Fortinet stock opened at $136.08 on Friday. The company has a fifty day simple moving average of $171.34 and a 200-day simple moving average of $128.28. The stock has a market cap of $99.84 billion, a P/E ratio of 44.18, a price-to-earnings-growth ratio of 2.53 and a beta of 1.03. The company has a current ratio of 1.40, a quick ratio of 1.19 and a debt-to-equity ratio of 0.22. Fortinet, Inc. has a 12-month low of $73.55 and a 12-month high of $197.13.

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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.74 EPS. Equities analysts expect that Fortinet, Inc. will post 3.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FTNT shares. Morgan Stanley reiterated a “positive” rating and set a $136.00 price target (up from $133.00) on shares of Fortinet in a research note on Thursday, July 30th. Evercore set a $165.00 target price on Fortinet in a research note on Thursday, July 30th. Barclays decreased their price objective on shares of Fortinet from $210.00 to $155.00 and set an “equal weight” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $130.00 price objective on shares of Fortinet in a research note on Thursday. Finally, 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 note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-four have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $147.94.

Insiders Place Their Bets

In related news, CEO Ken Xie sold 161,482 shares of the stock in a transaction dated 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 approximately $8,616,486,029.52. This represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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, COO John Whittle sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $168.74, for a total transaction of $478,377.90. Following the completion of the sale, the chief operating officer directly owned 96,987 shares of the company’s stock, valued at $16,365,586.38. This represents 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 have sold 221,303 shares of company stock valued at $36,164,034 over the last three months. Company insiders own 17.60% of the company’s stock.

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.

Fortinet Company 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.