Wealthfront Advisers LLC Buys 14,049 Shares of Fortinet, Inc. $FTNT

Wealthfront Advisers LLC boosted its stake in Fortinet, Inc. (NASDAQ:FTNT) by 19.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 85,576 shares of the software maker’s stock after purchasing an additional 14,049 shares during the period. Wealthfront Advisers LLC’s holdings in Fortinet were worth $7,195,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of FTNT. LSV Asset Management bought a new position in Fortinet during the second quarter valued at $25,000. Financial Consulate Inc. bought a new position in shares of Fortinet during the 3rd quarter worth $25,000. Steigerwald Gordon & Koch Inc. bought a new stake in Fortinet in the 3rd quarter valued at about $25,000. SJS Investment Consulting Inc. lifted its holdings in Fortinet by 1,556.5% during the third quarter. SJS Investment Consulting Inc. now owns 381 shares of the software maker’s stock valued at $32,000 after purchasing an additional 358 shares during the last quarter. Finally, Quaker Wealth Management LLC boosted its position in Fortinet by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock worth $38,000 after purchasing an additional 726 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Price Performance

Shares of NASDAQ:FTNT opened at $87.82 on Thursday. The company’s fifty day moving average price is $80.60 and its 200-day moving average price is $82.34. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09. The firm has a market capitalization of $65.31 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 2.95 and a beta of 1.06. Fortinet, Inc. has a one year low of $70.12 and a one year high of $114.82.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.07. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the business earned $0.74 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. On average, equities research analysts anticipate that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fortinet news, VP Michael Xie sold 343,106 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the transaction, the vice president directly owned 10,210,282 shares in the company, valued at $831,321,160.44. This trade represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ken Xie sold 175,737 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the completion of the sale, the chief executive officer owned 51,396,385 shares of the company’s stock, valued at approximately $4,184,693,666.70. The trade was a 0.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on FTNT. Oppenheimer restated a “market perform” rating on shares of Fortinet in a research note on Friday, January 23rd. Sanford C. Bernstein restated a “market perform” rating and set a $83.00 target price on shares of Fortinet in a research report on Friday, February 6th. Piper Sandler reiterated a “neutral” rating and set a $90.00 price objective (up from $85.00) on shares of Fortinet in a research note on Monday, January 5th. Rosenblatt Securities raised their target price on Fortinet from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Finally, Mizuho increased their price target on shares of Fortinet from $72.00 to $74.00 and gave the stock an “underperform” rating in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $89.07.

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.