Fox Hill Wealth Management Purchases Shares of 15,034 Fortinet, Inc. $FTNT

Fox Hill Wealth Management acquired a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,034 shares of the software maker’s stock, valued at approximately $2,310,000.

Several other large investors have also recently modified their holdings of FTNT. Burk Holdings LLC purchased a new stake in Fortinet during the 2nd quarter valued at about $25,000. Dunhill Financial LLC purchased a new position in Fortinet in the 2nd quarter worth approximately $25,000. Elevation Wealth Partners LLC lifted its position in Fortinet by 53.6% in the second quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock valued at $33,000 after purchasing an additional 75 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Fortinet during the second quarter valued at approximately $35,000. Finally, Kilter Group LLC purchased a new stake in shares of Fortinet during the second quarter valued at approximately $41,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FTNT. Morgan Stanley reaffirmed a “positive” rating and issued a $136.00 target price (up from $133.00) on shares of Fortinet in a research note on Thursday, July 30th. Evercore set a $165.00 price target on shares of Fortinet in a research report on Thursday, July 30th. JPMorgan Chase & Co. raised their price target on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Robert W. Baird set a $165.00 price objective on shares of Fortinet in a research report on Thursday, July 30th. Finally, Stephens set a $115.00 price objective on shares of Fortinet and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and an average target price of $150.91.

Fortinet Price Performance

Shares of Fortinet stock opened at $166.00 on Friday. The business has a 50 day moving average of $157.68 and a 200 day moving average of $120.40. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $173.89. The company has a market cap of $121.80 billion, a PE ratio of 58.45, a P/E/G ratio of 3.28 and a beta of 1.07. 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, beating the consensus estimate of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, equities research analysts forecast that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet Federal, a wholly owned subsidiary, earned CMMC Level 2 certification after validating 110 NIST SP 800-171 controls. The certification could improve Fortinet’s credibility with U.S. government agencies and defense contractors seeking compliant cybersecurity providers. Fortinet Federal’s New CMMC Level 2 Certification
• Positive Sentiment: Analysts continue to point to platform adoption, artificial-intelligence security products, product expansion and CMMC-related demand as potential growth drivers across enterprise and government markets. Fortinet Stock Surges on Security Platform Momentum
• Positive Sentiment: A new multi-year sponsorship agreement with Stanford Athletics supports Fortinet’s brand visibility, although the financial impact is likely modest compared with its core business. Stanford Athletics and Fortinet Sponsorship
• Neutral Sentiment: Fortinet recently moved above its 20-day moving average, signaling short-term technical momentum. However, technical support can also encourage profit-taking after a large advance. Fortinet Crosses Above Its 20-Day Moving Average
• Negative Sentiment: Valuation is a key overhang. With the stock near its annual high and trading at roughly 58 times earnings, investors may be demanding continued strong execution, leaving limited room for disappointment. Fortinet Valuation Leaves Limited Margin of Safety
• Negative Sentiment: Insider-trading data shows executives made no open-market purchases and reported multiple sales over the past six months. In addition, the reported median analyst price target of $115 is below recent trading levels, reinforcing concerns that expectations may have become excessive.

Insider Transactions at Fortinet

In related news, VP Michael Xie sold 3,121 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.63, for a total transaction of $507,568.23. Following the transaction, the vice president owned 9,918,360 shares in the company, valued at $1,613,022,886.80. The trade was a 0.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 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 completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $8,616,486,029.52. The trade was a 0.30% decrease in their ownership of the stock. 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 a total of 329,142 shares of company stock worth $50,731,178 in the last ninety days. Insiders own 17.60% of the company’s stock.

Fortinet Company 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.