Fortinet (NASDAQ:FTNT) VP Sells $507,568.23 in Stock

Fortinet, Inc. (NASDAQ:FTNT) VP Michael Xie sold 3,121 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the sale, the vice president owned 9,918,360 shares in the company, valued at $1,613,022,886.80. This represents a 0.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.

Michael Xie also recently made the following trade(s):

• On Wednesday, June 3rd, Michael Xie sold 3,907 shares of Fortinet stock. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08.

Fortinet Trading Down 2.4%

Shares of FTNT stock opened at $160.11 on Friday. The company 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. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $172.09. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $153.11 and a 200 day moving average price of $111.77.

Fortinet (NASDAQ:FTNT) last posted 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 company had revenue of $2.05 billion during 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%. The company’s revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. 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 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Elevation Wealth Partners LLC grew its holdings in shares of Fortinet by 53.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after purchasing an additional 75 shares during the period. Florida Financial Advisors LLC lifted its position in Fortinet by 3.0% in the first quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock valued at $309,000 after buying an additional 109 shares during the last quarter. Optimist Retirement Group LLC lifted its position in Fortinet by 2.5% in the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock valued at $398,000 after buying an additional 122 shares during the last quarter. PDS Planning Inc boosted its stake in Fortinet by 3.1% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock worth $326,000 after buying an additional 123 shares during the period. Finally, GW&K Investment Management LLC increased its position in shares of Fortinet by 31.4% during the fourth quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock valued at $41,000 after acquiring an additional 123 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Arete Research set a $104.00 price target on shares of Fortinet and gave the stock a “buy” rating in a research report on Monday, April 27th. Wolfe Research set a $175.00 price objective on shares of Fortinet in a research report on Thursday, July 30th. UBS Group reiterated a “neutral” rating and set a $180.00 target price on shares of Fortinet in a research report on Thursday, July 30th. Susquehanna increased their price target on shares of Fortinet from $115.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Finally, DZ Bank lowered Fortinet from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and an average target price of $150.91.

Trending Headlines about 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.