Fortinet, Inc. $FTNT Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its stake in Fortinet, Inc. (NASDAQ:FTNT) by 39.3% in the first quarter, Holdings Channel reports. The institutional investor owned 33,212 shares of the software maker’s stock after acquiring an additional 9,376 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Fortinet were worth $2,714,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Wexford Capital LP acquired a new position in Fortinet during the 3rd quarter worth $25,000. Physician Wealth Advisors Inc. raised its stake in shares of Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after purchasing an additional 245 shares in the last quarter. Palisade Asset Management LLC acquired a new stake in shares of Fortinet in the 3rd quarter valued at about $28,000. Elyxium Wealth LLC bought a new position in shares of Fortinet during the fourth quarter worth about $27,000. Finally, Maseco LLP acquired a new position in Fortinet in the first quarter worth about $29,000. 83.71% of the stock is currently owned by institutional investors.

Fortinet Stock Performance

Shares of NASDAQ FTNT opened at $166.83 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The firm’s 50-day moving average price is $140.80 and its two-hundred day moving average price is $102.24. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $167.27. The stock has a market capitalization of $122.23 billion, a P/E ratio of 64.41, a P/E/G ratio of 4.37 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.Fortinet’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, sell-side analysts forecast that Fortinet, Inc. will post 2.8 earnings per share for the current year.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at $7,711,717,915.76. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the transaction, the chief operating officer owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 318,387 shares of company stock worth $43,403,063 in the last 90 days. 17.60% of the stock is currently owned by company insiders.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet announced new capabilities for its FortiEndpoint platform aimed at helping organizations securely adopt AI, protect sensitive data, improve risk visibility, and simplify operations, which reinforces the company’s product momentum. Fortinet Expands FortiEndpoint with New Capabilities for the AI Era
• Positive Sentiment: Fortinet is benefiting from a sector-wide cybersecurity rally, with peers such as Palo Alto Networks and Check Point also moving higher as investors react to IBM’s cybersecurity-related spending warning. PANW, FTNT, CHKP: Palo Alto, Fortinet, Check Point Gain as IBM Stock Plunges — Here’s Why
• Positive Sentiment: Barclays recently raised its price target on Fortinet to $170, signaling continued analyst confidence even though the firm kept an equal-weight rating. Read More
• Neutral Sentiment: Fortinet also appeared in a new “buy recommendation” note, adding to investor attention but without clear details in the headline provided. Fortinet (FTNT): New Buy Recommendation for This Technology Giant
• Neutral Sentiment: Recent trading has also shown Fortinet outperforming the broader market, suggesting momentum was already positive before today’s news flow. Fortinet (FTNT) Gains As Market Dips: What You Should Know

Analyst Ratings Changes

Several analysts recently weighed in on the company. BMO Capital Markets boosted their price objective on Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Susquehanna lifted their target price on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Bank of America boosted their price target on Fortinet from $130.00 to $180.00 and gave the company a “buy” rating in a report on Monday, June 8th. JPMorgan Chase & Co. upped their price target on Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, May 7th. Finally, Barclays raised their price objective on Fortinet from $155.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $111.00.

Fortinet Profile

Fortinet, Inc (NASDAQ: FTNT) is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co‑founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia‑Pacific.

Fortinet’s product portfolio centers on network security appliances and software, with its FortiGate next‑generation firewalls and the FortiOS operating system forming a core platform.