Wealthfront Advisers LLC Raises Position in Fortinet, Inc. $FTNT

Wealthfront Advisers LLC lifted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 16.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 107,535 shares of the software maker’s stock after acquiring an additional 15,120 shares during the period. Wealthfront Advisers LLC’s holdings in Fortinet were worth $8,788,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after buying an additional 221 shares during the period. Bison Wealth LLC acquired a new position in shares of Fortinet during the 4th quarter valued at about $585,000. HUB Investment Partners LLC lifted its holdings in shares of Fortinet by 29.1% during the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock worth $560,000 after acquiring an additional 1,193 shares during the period. Diversify Advisory Services LLC purchased a new position in shares of Fortinet during the 2nd quarter worth about $1,136,000. Finally, Quantinno Capital Management LP boosted its position in shares of Fortinet by 27.4% in the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock worth $15,328,000 after acquiring an additional 31,202 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Activity

In related news, CEO Ken Xie sold 160,632 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $7,711,717,915.76. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 318,387 shares of company stock worth $43,403,063 over the last 90 days. 17.60% of the stock is currently owned by company insiders.

Fortinet Price Performance

NASDAQ FTNT opened at $161.61 on Friday. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $170.35. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The stock has a market cap of $118.40 billion, a price-to-earnings ratio of 62.40, a price-to-earnings-growth ratio of 4.37 and a beta of 1.09. The company has a 50-day moving average price of $144.30 and a two-hundred day moving average price of $103.80.

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

Analyst Upgrades and Downgrades

FTNT has been the topic of a number of research analyst reports. BMO Capital Markets lifted their price target on shares of Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Rosenblatt Securities upped their price target on Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 target price on shares of Fortinet in a research note on Thursday, May 7th. Susquehanna raised their price target on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, Arete Research set a $104.00 price objective on Fortinet and gave the company a “buy” rating in a report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-three have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $113.97.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet received an upgrade from Zacks Research to strong-buy, reinforcing a more constructive analyst view ahead of earnings. Zacks Research upgrade
• Positive Sentiment: Wall Street Zen upgraded Fortinet (FTNT) to buy, which could support investor confidence. Wall Street Zen upgrade
• Positive Sentiment: Several cybersecurity-focused articles highlighted FTNT as a beneficiary of rising agentic AI adoption, suggesting stronger long-term demand for security products. Agentic AI article
• Neutral Sentiment: Multiple previews ahead of Fortinet’s Q2 2026 earnings say analysts expect double-digit bottom-line growth, but the market is still waiting for the actual report, so this is more of a setup than a catalyst. Q2 2026 earnings preview
• Neutral Sentiment: Fortinet’s consensus broker recommendation remains Hold, indicating analysts are still mixed overall despite the recent upgrades. Consensus hold rating
• Negative Sentiment: One market report said Fortinet underperformed competitors on Thursday, which may have capped upside and suggests some relative weakness in the group. Underperforms competitors

About Fortinet

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.