National Wealth Management Group LLC Purchases New Position in Fortinet, Inc. $FTNT

National Wealth Management Group LLC purchased a new position in Fortinet, Inc. (NASDAQ:FTNT) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,757 shares of the software maker’s stock, valued at approximately $672,000.

Several other hedge funds have also recently bought and sold shares of FTNT. BlackRock Inc. acquired a new position in Fortinet during the second quarter worth $9,561,650,000. Bank of New York Mellon Corp acquired a new position in shares of Fortinet in the second quarter valued at approximately $1,432,842,000. Legal & General Group Plc acquired a new position in Fortinet in the 2nd quarter valued at $979,062,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Fortinet by 87.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock worth $788,682,000 after purchasing an additional 4,500,194 shares during the period. Finally, Bank of America Corp DE acquired a new stake in shares of Fortinet during the second quarter worth $656,852,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Trading Up 1.9%

Shares of FTNT opened at $183.33 on Tuesday. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $197.13. The firm has a market capitalization of $134.51 billion, a P/E ratio of 64.55, a price-to-earnings-growth ratio of 3.36 and a beta of 1.03. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The stock’s fifty day simple moving average is $171.01 and its 200 day simple moving average is $126.69.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the business 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, equities research analysts forecast that Fortinet, Inc. will post 3.10 earnings per share for the current year.

Insider Activity

In related news, COO John Whittle sold 53,865 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $165.44, for a total transaction 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. This represents a 35.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 that occurred on 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 sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $8,616,486,029.52. This trade represents 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 have sold 221,303 shares of company stock valued at $36,164,034 in the last three months. Corporate insiders own 17.60% of the company’s stock.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet announced the FortiGuard Inline AI Security Service, a cloud-delivered offering that provides AI-specific inspection and guardrails for FortiGate firewalls. The product strengthens Fortinet’s positioning in the rapidly growing AI-security market and could support additional recurring revenue. Fortinet Expands AI Security with the FortiGuard Inline AI Security Service
• Positive Sentiment: Analyst support has improved, including a JPMorgan price-target increase and a recently reported analyst upgrade. These actions likely contributed to Fortinet’s recent share-price strength and improved investor sentiment. Fortinet Stock Gets Price Target Bump from JPMorgan Chase & Co. Fortinet Stock Jumps After Analyst Upgrade
• Positive Sentiment: Broader demand for AI-powered cybersecurity is rising as companies face more sophisticated digital threats. Fortinet is being highlighted among potential beneficiaries, supporting the sector’s investment narrative. Top AI-Powered Cybersecurity Stocks to Buy as Digital Threats Rise
• Neutral Sentiment: Fortinet approaches third-quarter earnings with demand for SASE firewall products, AI-security expansion and share repurchases as potential positives. At the same time, investors are watching for margin pressure and whether its elevated valuation is justified. Fortinet Stock Before Q3 Earnings
• Negative Sentiment: Some Wall Street brokerages maintain a “Hold” rating, signaling that analysts see limited near-term upside after the recent rally. Fortinet also trades at a demanding earnings multiple, increasing sensitivity to an earnings or guidance miss. Fortinet Stock Rated Hold by Wall Street Brokerages

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. BTIG Research lifted their price objective on Fortinet from $186.00 to $203.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Roth Capital increased their target price on Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. TD Cowen reiterated a “buy” rating and set a $225.00 target price (up from $215.00) on shares of Fortinet in a research report on Tuesday, October 13th. Susquehanna raised their price target on Fortinet from $115.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Finally, DZ Bank cut Fortinet from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have issued a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, Fortinet presently has an average rating of “Hold” and an average price target of $162.36.

About Fortinet

Fortinet, Inc develops cybersecurity products and services designed to protect networks, endpoints, applications, cloud environments and operational technology systems. The company’s portfolio includes next-generation firewalls, secure networking products, endpoint security, web application security, email security, identity and access solutions, and security information and event management tools.

Its product offerings include FortiGate network security appliances and cloud-based firewalls, along with FortiSwitch, FortiAP and FortiExtender solutions for secure connectivity.