Fortinet, Inc. $FTNT Stock Holdings Trimmed by NewEdge Advisors LLC

NewEdge Advisors LLC lessened its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 91.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,376 shares of the software maker’s stock after selling 47,217 shares during the period. NewEdge Advisors LLC’s holdings in Fortinet were worth $358,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FTNT. Glenmede Trust Co. NA raised its position in shares of Fortinet by 10.6% during the 1st quarter. Glenmede Trust Co. NA now owns 518,217 shares of the software maker’s stock valued at $42,349,000 after acquiring an additional 49,669 shares in the last quarter. Axiom Investment Management LLC bought a new stake in Fortinet during the first quarter valued at $63,000. Groupama Asset Managment bought a new stake in Fortinet during the first quarter valued at $1,937,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Fortinet during the first quarter worth $935,000. Finally, CTC Alternative Strategies Ltd. acquired a new stake in shares of Fortinet during the first quarter worth $253,000. 83.71% of the stock is currently owned by institutional investors.

Fortinet Stock Performance

NASDAQ:FTNT opened at $153.51 on Monday. The stock has a market cap of $112.63 billion, a price-to-earnings ratio of 54.05, a PEG ratio of 2.91 and a beta of 1.07. 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, Inc. has a 1 year low of $73.55 and a 1 year high of $172.09. The business has a fifty day moving average of $156.24 and a 200-day moving average of $117.87.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations 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 period 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. Equities analysts predict that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Analysts Set New Price Targets

FTNT has been the subject of several research reports. Wells Fargo & Company set a $135.00 price target on shares of Fortinet and gave the company an “underweight” rating in a report on Thursday, July 30th. UBS Group restated a “neutral” rating and issued a $180.00 target price on shares of Fortinet in a research note on Thursday, July 30th. 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. JPMorgan Chase & Co. upped their target price on Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, May 7th. Finally, Royal Bank Of Canada set a $185.00 price target on Fortinet and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nineteen have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, Fortinet currently has a consensus rating of “Hold” and an average target price of $150.91.

Insider Transactions at Fortinet

In other news, VP Michael Xie sold 3,121 shares of the stock in a transaction that occurred on 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 transaction, the vice president directly owned 9,918,360 shares in the company, valued at $1,613,022,886.80. This trade represents a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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. Also, CEO Ken Xie sold 161,482 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their ownership of the stock. 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. Insiders have sold a total of 329,142 shares of company stock worth $50,731,178 over the last 90 days. 17.60% of the stock is owned by insiders.

Fortinet Profile

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.