10,224 Shares in Fortinet, Inc. $FTNT Acquired by OceanIQ Capital LLC

OceanIQ Capital LLC acquired a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,224 shares of the software maker’s stock, valued at approximately $1,655,000. Fortinet accounts for about 1.0% of OceanIQ Capital LLC’s portfolio, making the stock its 16th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Expressive Wealth LLC bought a new position in shares of Fortinet in the fourth quarter worth about $646,000. Transamerica Financial Advisors LLC purchased a new position in shares of Fortinet during the 2nd quarter valued at about $492,000. Leonteq Securities AG bought a new position in shares of Fortinet during the 4th quarter valued at approximately $10,422,000. Eurizon Capital SGR S.p.A. purchased a new stake in Fortinet in the 4th quarter worth approximately $14,638,000. Finally, Thrivent Financial for Lutherans increased its holdings in Fortinet by 156.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock worth $31,009,000 after acquiring an additional 238,299 shares in the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Fortinet Stock Down 0.0%

NASDAQ FTNT opened at $156.29 on Friday. The stock’s 50 day moving average is $158.88 and its 200 day moving average is $122.99. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $173.89. The stock has a market cap of $114.67 billion, a PE ratio of 55.03, a P/E/G ratio of 2.97 and a beta of 1.06.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 191.54% and a net margin of 28.17%.The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Research analysts predict that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FTNT has been the topic of a number of recent analyst reports. Wolfe Research set a $175.00 price target on shares of Fortinet in a report on Thursday, July 30th. Bank of America reissued a “buy” rating on shares of Fortinet in a research note on Monday, July 27th. Royal Bank Of Canada set a $185.00 price objective on shares of Fortinet and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Scotiabank restated a “sector perform” rating and set a $163.00 target price on shares of Fortinet in a research note on Thursday, July 30th. Finally, Rosenblatt Securities lifted their target price on shares of Fortinet from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $150.91.

Insiders Place Their Bets

In related news, VP Michael Xie sold 3,121 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the transaction, the vice president directly owned 9,918,360 shares of the company’s stock, valued at approximately $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 Fortinet stock in a transaction 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 sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. 17.60% of the stock is currently owned by corporate insiders.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet was highlighted as a growth-at-a-reasonable-price (GARP) stock, with analysts pointing to its 2026 growth outlook, rising earnings estimates and expanding AI-security opportunity. Zacks.com featured highlights including Fortinet
• Positive Sentiment: Fortinet was also included among founder-led technology companies with long-term innovation and growth potential, reinforcing the investment case around its leadership and strategic direction. Founder-led companies redefining technology and growth
• Positive Sentiment: Multiple Zacks features identify FTNT as a GARP candidate, suggesting analysts view its earnings and revenue prospects as attractive relative to its valuation and peer group. GARP stocks investors can consider
• Positive Sentiment: Fortinet continues to benefit from broader demand for AI-driven cybersecurity. Its latest reported quarter exceeded earnings and revenue estimates, with revenue increasing 25.6% year over year, supporting the bullish outlook.
• Neutral Sentiment: ControlMonkey added backup and disaster-recovery support for Fortinet security configurations. The announcement improves recoverability for customers but appears unlikely to materially affect Fortinet’s near-term financial results. ControlMonkey extends recovery to the security stack
• Negative Sentiment: A sharp reaction to Palo Alto Networks’ results despite strong growth highlighted how demanding investor expectations have become for cybersecurity stocks. That sector-wide valuation risk may be limiting upside for Fortinet even amid favorable company-specific commentary. Cybersecurity stocks react to Palo Alto results

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.