Fortinet, Inc. $FTNT Stock: Integrated Advisors Network LLC Reduces Holdings

Integrated Advisors Network LLC decreased its position in Fortinet, Inc. (NASDAQ:FTNT) by 4.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,185 shares of the software maker’s stock after selling 3,742 shares during the quarter. Fortinet accounts for approximately 0.7% of Integrated Advisors Network LLC’s portfolio, making the stock its 24th largest position. Integrated Advisors Network LLC’s holdings in Fortinet were worth $15,943,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FTNT. Robeco Institutional Asset Management B.V. raised its holdings in shares of Fortinet by 48.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,469,882 shares of the software maker’s stock valued at $441,516,000 after buying an additional 801,943 shares during the period. Diversify Advisory Services LLC lifted its stake in Fortinet by 4.3% during the 3rd quarter. Diversify Advisory Services LLC now owns 112,704 shares of the software maker’s stock worth $20,502,000 after acquiring an additional 4,660 shares in the last quarter. South Shore Capital Advisors lifted its stake in Fortinet by 11.2% during the 3rd quarter. South Shore Capital Advisors now owns 2,438 shares of the software maker’s stock worth $407,000 after acquiring an additional 245 shares in the last quarter. 55 North Private Wealth LLC purchased a new position in Fortinet during the 3rd quarter valued at about $281,000. Finally, Prime Capital Investment Advisors LLC boosted its holdings in Fortinet by 17.7% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 25,719 shares of the software maker’s stock valued at $4,598,000 after acquiring an additional 3,873 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Activity

In other news, VP Michael Xie sold 3,121 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was 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. The trade was a 0.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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, COO John Whittle sold 53,865 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $165.44, for a total value of $8,911,425.60. Following the transaction, the chief operating officer directly owned 96,987 shares of the company’s stock, valued at approximately $16,045,529.28. This represents a 35.71% 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. In the last quarter, insiders sold 221,303 shares of company stock worth $36,164,034. 17.60% of the stock is currently owned by company insiders.

Fortinet Trading Down 0.3%

NASDAQ:FTNT opened at $170.93 on Wednesday. Fortinet, Inc. has a 12-month low of $73.55 and a 12-month high of $197.13. The firm has a market cap of $125.41 billion, a PE ratio of 60.19, a price-to-earnings-growth ratio of 3.20 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 has a fifty day moving average price of $169.65 and a 200 day moving average price of $144.56.

Fortinet (NASDAQ:FTNT) last issued 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. Fortinet had a return on equity of 191.54% and a net margin of 28.17%. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the business earned $0.64 EPS. Fortinet’s revenue was up 25.6% on a year-over-year basis. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Sell-side analysts anticipate that Fortinet, Inc. will post 3.10 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wall Street Zen raised Fortinet from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. BTIG Research boosted their price target on shares of Fortinet from $186.00 to $203.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Sanford C. Bernstein reissued a “market perform” rating and set a $145.00 price target (up from $102.00) on shares of Fortinet in a research report on Thursday, September 17th. Cantor Fitzgerald reissued a “neutral” rating on shares of Fortinet in a research note on Monday, August 24th. Finally, Barclays set a $210.00 price objective on shares of Fortinet and gave the company an “equal weight” rating in a research note on Monday, October 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortinet has an average rating of “Hold” and a consensus price target of $161.39.

Fortinet Company 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.