3,601 Shares in Fortinet, Inc. $FTNT Acquired by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. bought a new stake in Fortinet, Inc. (NASDAQ:FTNT) during the 3rd quarter, Holdings Channel.com reports. The firm bought 3,601 shares of the software maker’s stock, valued at approximately $644,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Puff Wealth Management LLC raised its holdings in shares of Fortinet by 3.4% in the third quarter. Puff Wealth Management LLC now owns 1,660 shares of the software maker’s stock valued at $297,000 after buying an additional 54 shares during the last quarter. Elevation Wealth Partners LLC grew its holdings in shares of Fortinet by 53.6% during the second quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after buying an additional 75 shares during the last quarter. Sigma Planning Corp grew its holdings in shares of Fortinet by 1.0% during the second quarter. Sigma Planning Corp now owns 7,927 shares of the software maker’s stock worth $1,218,000 after buying an additional 80 shares during the last quarter. Parrish Capital LLC increased its position in Fortinet by 1.3% in the 3rd quarter. Parrish Capital LLC now owns 6,374 shares of the software maker’s stock valued at $1,139,000 after acquiring an additional 82 shares during the period. Finally, Cornerstone Financial Management LLC increased its position in Fortinet by 102.5% in the 2nd quarter. Cornerstone Financial Management LLC now owns 164 shares of the software maker’s stock valued at $25,000 after acquiring an additional 83 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. HSBC downgraded 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. Stifel Nicolaus set a $175.00 target price on Fortinet and gave the company a “hold” rating in a research note on Thursday, July 30th. The Goldman Sachs Group reiterated a “buy” rating and set a $190.00 target price on shares of Fortinet in a report on Thursday, July 30th. Bank of America reissued a “buy” rating on shares of Fortinet in a report on Monday, July 27th. Finally, Weiss Ratings upgraded Fortinet from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nineteen have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $152.79.

Insiders Place Their Bets

In other news, COO John Whittle sold 53,865 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $165.44, for a total value of $8,911,425.60. Following the completion of the sale, the chief operating officer owned 96,987 shares of the company’s stock, valued at approximately $16,045,529.28. The trade was a 35.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at $8,616,486,029.52. The trade was a 0.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 a total of 221,303 shares of company stock valued at $36,164,034 in the last ninety days. Corporate insiders own 17.60% of the company’s stock.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Positive momentum and earnings outlook: Zacks identifies Fortinet as a strong momentum stock and includes it among companies expected to beat upcoming earnings estimates. The company’s latest reported quarter already exceeded analyst expectations for both earnings and revenue, supporting continued investor interest. Here’s Why Fortinet Is a Strong Momentum Stock
• Positive Sentiment: AI and industrial cybersecurity demand: Commentary highlights Fortinet’s role in protecting physical AI infrastructure, while Rockwell Automation expanded its SecureOT managed-services offerings to support Fortinet firewalls. The relationship could increase Fortinet’s visibility and adoption among manufacturers and other operational-technology customers. Rockwell Automation Expands SecureOT Managed Services
• Positive Sentiment: Higher analyst earnings forecast: Scotiabank raised its FY2027 EPS estimate for Fortinet to $3.42 from $2.95, above the broader consensus estimate of $3.10. This suggests improving expectations for the company’s profitability, even though Scotiabank retained a Sector Perform rating. Scotiabank Has Strong Forecast for Fortinet FY2027 Earnings
• Neutral Sentiment: Peer comparison: Fortinet and CrowdStrike are both near 52-week highs. Investors are weighing Fortinet’s valuation and earnings-estimate trends against CrowdStrike’s prospects, which could influence near-term sector positioning. CrowdStrike vs. Fortinet
• Negative Sentiment: Valuation and price-target risk: After a roughly 224% three-year stock gain, analysts are questioning whether future cash flows can justify Fortinet’s valuation. Scotiabank’s $163 price target is below the current trading level, indicating limited upside under that firm’s assumptions. Can Fortinet Stay Fully Priced on Future Cash Flow?

Fortinet Stock Down 0.1%

Shares of FTNT traded down $0.13 during trading on Thursday, reaching $189.15. The company’s stock had a trading volume of 981,616 shares, compared to its average volume of 5,891,526. The company has a fifty day moving average of $165.91 and a two-hundred day moving average of $138.07. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $192.41. The company has a market cap of $138.78 billion, a price-to-earnings ratio of 66.58, a P/E/G ratio of 3.57 and a beta of 1.03. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the company earned $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. On average, sell-side analysts predict that Fortinet, Inc. will post 3.1 EPS for the current fiscal year.

Fortinet Profile

Fortinet, Inc develops and provides cybersecurity products and services for businesses, governments, and service providers. The company’s portfolio is designed to protect networks, endpoints, applications, cloud environments, and operational technology from cyber threats.

Its offerings include FortiGate next-generation firewalls, FortiSwitch secure networking switches, FortiAP wireless access points, FortiClient endpoint security, and FortiSASE secure access service edge solutions. Fortinet also provides centralized management and analytics through products such as FortiManager and FortiAnalyzer, along with security operations, threat intelligence, and other subscription-based services through its FortiGuard portfolio.

Founded in 2000, Fortinet serves customers globally through direct sales, channel partners, and managed security service providers.