FNY Investment Advisers LLC Invests $768,000 in Fortinet, Inc. $FTNT

FNY Investment Advisers LLC bought a new position in Fortinet, Inc. (NASDAQ:FTNT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,000 shares of the software maker’s stock, valued at approximately $768,000.

Other hedge funds also recently bought and sold shares of the company. State Street Corp raised its position in Fortinet by 1.6% during the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after purchasing an additional 477,397 shares during the last quarter. Norges Bank purchased a new stake in Fortinet in the 4th quarter worth approximately $1,152,917,000. Bank of New York Mellon Corp grew its position in shares of Fortinet by 6.6% in the 4th quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock worth $1,151,810,000 after buying an additional 893,190 shares during the last quarter. First Trust Advisors LP grew its position in shares of Fortinet by 45.5% in the 1st quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock worth $940,284,000 after buying an additional 3,598,487 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Fortinet by 17.0% during the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after buying an additional 1,568,337 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FTNT shares. Zacks Research upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. HSBC cut shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price target on the stock. in a report on Monday, June 29th. BMO Capital Markets boosted their price objective on shares of Fortinet from $170.00 to $185.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Fortinet from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 31st. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 target price (up from $110.00) on shares of Fortinet in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $150.91.

Fortinet Stock Down 2.4%

Shares of NASDAQ:FTNT opened at $160.11 on Friday. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $172.09. The firm has a market capitalization of $117.47 billion, a P/E ratio of 56.38, a P/E/G ratio of 3.11 and a beta of 1.07. The stock has a 50 day moving average price of $153.11 and a 200-day moving average price of $111.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the business posted $0.64 EPS. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, equities research analysts anticipate that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the transaction, the vice president owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the business’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 owned 94,724 shares in the company, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 475,157 shares of company stock worth $69,480,964. 17.60% of the stock is owned by corporate insiders.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Cybersecurity demand and AI-related threats support growth. Zacks highlighted Fortinet as a leading security stock, citing accelerating digital transformation, cloud migration and the growing need to defend against AI-enabled attacks. Bloomberg’s report on AI-powered “vishing” attacks targeting financial firms reinforces the long-term demand outlook. Wall Street hit by wave of AI-powered vishing cyberattacks
• Positive Sentiment: Fortinet continues to receive favorable momentum ratings. Zacks added FTNT to its Rank #1 “Strong Buy” and momentum-stock lists, while other coverage identified it as a growth-at-a-reasonable-price and momentum candidate. What Makes Fortinet a Strong Momentum Stock
• Positive Sentiment: Brand recognition and AI execution add modest support. Forrester named Fortinet the Asia-Pacific winner of its inaugural B2B Marketing AI Impact Award, recognizing its use of AI to improve marketing performance. A separate “Bull of the Day” feature also emphasized the company’s opportunity as AI expands the cybersecurity threat landscape. Forrester Recognizes Fortinet as APAC Winner
• Neutral Sentiment: Insider selling was limited and pre-planned. Vice President Michael Xie sold approximately $508,000 of shares under a Rule 10b5-1 plan to cover tax obligations. The transaction reduced his holdings by only 0.03%, making it unlikely to signal a change in business outlook. Fortinet Insider Selling
• Negative Sentiment: Valuation and analyst caution are key risks. Seeking Alpha downgraded Fortinet to a Hold, while the broader analyst consensus remains Hold with a target below recent trading levels. At roughly 56 times earnings, investors may be taking profits after the stock’s substantial advance, particularly if growth or margins moderate. Downgrading Fortinet: Key Factors for a Hold Recommendation

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.