Fortinet, Inc. $FTNT Stock: Roman Butler Fullerton & Co. Boosts Holdings

Roman Butler Fullerton & Co. lifted its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 291.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,480 shares of the software maker’s stock after buying an additional 4,081 shares during the period. Roman Butler Fullerton & Co.’s holdings in Fortinet were worth $940,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FTNT. Burk Holdings LLC purchased a new stake in Fortinet during the second quarter worth $25,000. Dunhill Financial LLC purchased a new stake in shares of Fortinet in the 2nd quarter worth about $25,000. Cornerstone Financial Management LLC grew its stake 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 last quarter. NFSG Corp acquired a new stake in Fortinet in the 3rd quarter valued at about $34,000. Finally, Timbuktu Capital Management LLC purchased a new position in Fortinet during the 2nd quarter valued at about $31,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Fortinet Price Performance

NASDAQ:FTNT opened at $185.00 on Wednesday. The firm has a 50 day simple moving average of $171.59 and a 200-day simple moving average of $127.21. Fortinet, Inc. has a 1-year low of $73.55 and a 1-year high of $197.13.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. The firm’s revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. As a group, research analysts expect that Fortinet, Inc. will post 3.10 EPS for the current year.

Insider Buying and Selling at Fortinet

In other news, COO John Whittle sold 53,865 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $165.44, for a total transaction of $8,911,425.60. Following the sale, the chief operating officer owned 96,987 shares in the company, valued at $16,045,529.28. This trade represents a 35.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,121 shares of Fortinet stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.63, for a total value of $507,568.23. Following the completion of the sale, the vice president owned 9,918,360 shares of the company’s stock, valued at $1,613,022,886.80. This trade represents a 0.03% 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. In the last three months, insiders sold 221,303 shares of company stock worth $36,164,034. Insiders own 17.60% of the company’s stock.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet launched the FortiGuard Inline AI Security Service, a cloud-delivered add-on for FortiGate customers that provides AI-specific threat inspection, data-protection controls and guardrails. The service could create additional recurring revenue from Fortinet’s large installed base and strengthen its position in the growing AI-cybersecurity market. Fortinet Expands AI Security with the FortiGuard Inline AI Security Service
• Positive Sentiment: The company also introduced FortiLink SASE Service to secure small branches and distributed facilities without requiring an on-site firewall. The offering expands Fortinet’s unified SASE strategy and may support demand for cloud-delivered security and centralized management. Fortinet Expands Unified SASE to Simplify Microbranch Security
• Positive Sentiment: Atos expanded its long-running partnership with Fortinet into a global engagement covering managed cybersecurity, consulting and hybrid- and multicloud integration. The broader relationship could improve enterprise distribution and service adoption, particularly for Fortinet’s AI-security portfolio. What Fortinet’s Atos Partnership Expansion Means for Shareholders
• Positive Sentiment: Third-quarter earnings estimate revisions are trending upward, with investors citing strong SASE firewall demand, AI-security expansion and share repurchases ahead of the report. Fortinet’s latest quarter also showed revenue growth and earnings above consensus, supporting the bullish momentum narrative. Fortinet Q3 2026 Earnings Preview

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Daiwa Securities Group lifted their target price on shares of Fortinet from $115.00 to $165.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Barclays set a $210.00 price objective on Fortinet and gave the stock an “equal weight” rating in a research report on Monday, October 12th. Zacks Research upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. TD Cowen reiterated a “buy” rating and set a $225.00 target price (up from $215.00) on shares of Fortinet in a report on Tuesday, October 13th. Finally, Morgan Stanley reissued a “positive” rating and issued a $136.00 price target (up from $133.00) on shares of Fortinet in a report on Thursday, July 30th. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat, Fortinet has a consensus rating of “Hold” and a consensus price target of $162.36.

Fortinet Profile

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.