CX Institutional Has $1.18 Million Stake in Fortinet, Inc. $FTNT

CX Institutional trimmed its stake in Fortinet, Inc. (NASDAQ:FTNT) by 91.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,686 shares of the software maker’s stock after selling 86,357 shares during the period. CX Institutional’s holdings in Fortinet were worth $1,181,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FTNT. Florida Financial Advisors LLC boosted its stake in shares of Fortinet by 3.0% in the 1st quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock valued at $309,000 after purchasing an additional 109 shares in the last quarter. Optimist Retirement Group LLC increased its position in shares of Fortinet by 2.5% during the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock worth $398,000 after purchasing an additional 122 shares in the last quarter. PDS Planning Inc lifted its holdings in Fortinet by 3.1% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock valued at $326,000 after purchasing an additional 123 shares during the last quarter. GW&K Investment Management LLC lifted its holdings in Fortinet by 31.4% during the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock valued at $41,000 after purchasing an additional 123 shares during the last quarter. Finally, Delta Investment Management LLC boosted its position in Fortinet by 2.4% in the fourth quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock valued at $417,000 after buying an additional 125 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Strong earnings and raised guidance support the growth story. Fortinet reported second-quarter revenue of approximately $2.05 billion, up 25.6% year over year, and adjusted earnings of $0.90 per share versus the $0.75 analyst consensus. Management raised full-year 2026 revenue guidance to $8.02 billion-$8.18 billion and forecast third-quarter revenue of $2.01 billion-$2.10 billion. Fortinet guidance and AI firewall article
• Positive Sentiment: AI-focused security products and rising cyber threats provide potential catalysts. Fortinet launched the FortiGate 1200G series with FortiSASE Outpost for high-performance, AI-focused and sovereignty-sensitive hybrid environments. Separately, reported AI-powered “vishing” attacks targeting major financial firms underscore the growing need for cybersecurity services. AI-powered vishing cyberattacks article
• Positive Sentiment: Quantitative screens remain favorable. Zacks added FTNT to its Rank #1 “Strong Buy” and momentum lists, while other coverage identified Fortinet as a growth-at-a-reasonable-price candidate because of its above-average financial growth. Zacks momentum stocks article
• Neutral Sentiment: Insider sales were limited and appear administrative. CEO Ken Xie sold 161,482 shares and VP Michael Xie sold 3,121 shares under pre-arranged Rule 10b5-1 plans to cover tax withholding on vested equity awards. The transactions reduced their holdings by only 0.30% and 0.03%, respectively.
• Negative Sentiment: Valuation and analyst caution may be encouraging investors to lock in gains. FTNT trades at a high earnings multiple after a substantial run, while its average analyst rating remains “Hold” with a consensus price target below recent trading levels. Deutsche Bank and Baird maintained Hold ratings, and Baird cited margin and balance-sheet risks with a $165 target.

Fortinet Trading Down 2.4%

NASDAQ FTNT opened at $164.26 on Thursday. The company has a market capitalization of $120.52 billion, a PE ratio of 57.84, a P/E/G ratio of 3.19 and a beta of 1.07. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $172.09. The stock has a 50-day simple moving average of $152.50 and a 200 day simple moving average of $111.17. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.15. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. Fortinet’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Research analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current year.

Insiders Place Their Bets

In related news, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction 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 in the company, valued at $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction dated Monday, August 3rd. The shares were 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 in the company, valued at $8,616,486,029.52. This represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold 475,157 shares of company stock worth $69,480,964 over the last ninety days. 17.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FTNT shares. HC Wainwright reaffirmed a “buy” rating on shares of Fortinet in a research note on Thursday, July 30th. Scotiabank reiterated a “sector perform” rating and issued a $163.00 target price on shares of Fortinet in a research note on Thursday, July 30th. Rosenblatt Securities increased their price target on Fortinet from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Royal Bank Of Canada set a $185.00 price target on Fortinet and gave the company a “sector perform” rating in a report on Thursday, July 30th. Finally, Truist Financial set a $183.00 price objective on Fortinet and gave the company a “buy” rating in a research report on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, Fortinet currently has an average rating of “Hold” and an average target price of $150.91.

Fortinet Company 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.