113,956 Shares in Fortinet, Inc. $FTNT Bought by Wealthfront Advisers LLC

Key Points

• Wealthfront Advisers bought 113,956 Fortinet shares worth approximately $17.5 million during the second quarter. Institutional investors collectively own 83.71% of FTNT.
• Fortinet reported quarterly revenue of $2.05 billion, up 25.6% year over year, and EPS of $0.90, beating analyst expectations of $0.75. The company also issued fiscal 2026 EPS guidance of $3.410–$3.470.
• FTNT shares opened at $158.01, near their 12-month high of $172.09, while the stock trades at a high P/E ratio of 55.64. Despite analyst upgrades and Fortinet’s AI-security expansion, the consensus rating remains Hold with a $150.91 price target.

Wealthfront Advisers LLC purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 113,956 shares of the software maker's stock, valued at approximately $17,506,000.

A number of other institutional investors also recently bought and sold shares of FTNT. BlackRock Inc. purchased a new position in shares of Fortinet in the 2nd quarter valued at about $9,561,650,000. Norges Bank purchased a new stake in Fortinet during the fourth quarter worth approximately $1,152,917,000. Bank of New York Mellon Corp acquired a new position in Fortinet in the second quarter valued at approximately $1,432,842,000. Arrowstreet Capital Limited Partnership boosted its holdings in Fortinet by 87.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker's stock valued at $788,682,000 after purchasing an additional 4,500,194 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in Fortinet in the second quarter valued at approximately $581,102,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Stock Performance

Shares of Fortinet stock opened at $158.01 on Wednesday. The firm's fifty day simple moving average is $155.70 and its 200-day simple moving average is $116.37. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $172.09. The stock has a market capitalization of $115.93 billion, a price-to-earnings ratio of 55.64, a PEG ratio of 3.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the firm posted $0.64 EPS. Fortinet's revenue for the quarter 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. As a group, equities analysts forecast that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Virtue AI acquisition strengthens AI security offering: Fortinet acquired Virtue AI to add continuous validation, monitoring and runtime protection for AI agents across their lifecycle. The technology is intended to expand Fortinet’s AI-Native Security Fabric as companies move enterprise AI applications into production. Fortinet Advances Continuous AI Protection with the Acquisition of Virtue AI
• Positive Sentiment: AI acquisitions support cloud-platform ambitions: Coverage highlights Fortinet’s broader push to build a cloud-based security platform through AI-related acquisitions. Investors may view the strategy as a way to accelerate growth in AI infrastructure, agent security and cloud security. Fortinet, IBD Stock of the Day, Steps Up AI Acquisitions to Build Cloud Platform
• Positive Sentiment: Analyst comparisons remain favorable: A Zacks analysis gives Fortinet an edge over CrowdStrike, citing SASE momentum, steadier execution and a relatively lower valuation. Other commentary points to projected revenue growth of roughly 19% this year and continued earnings growth, while Fortinet was also identified as a potential earnings-beat candidate. CRWD vs. FTNT: Which Cybersecurity Stock Should You Buy Right Now?
• Neutral Sentiment: Valuation and expectations are elevated: Fortinet has gained nearly 100% in 2026 and trades at a high earnings multiple, leaving the stock sensitive to any slowdown in growth or disappointment from future AI investments. Recent quarterly results exceeded estimates, providing support, but investors will need evidence that the acquisition strategy converts into sustainable revenue growth.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 161,482 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at $8,616,486,029.52. The trade was a 0.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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, VP Michael Xie sold 3,907 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president directly owned 9,923,610 shares of the company's stock, valued at approximately $1,453,213,448.40. This represents a 0.04% 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. Insiders have sold 475,157 shares of company stock worth $69,480,964 in the last quarter. Company insiders own 17.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FTNT shares. Evercore set a $165.00 price objective on shares of Fortinet in a research report on Thursday, July 30th. Weiss Ratings raised shares of Fortinet from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 31st. BTIG Research lifted 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. Wall Street Zen raised shares of Fortinet from a "hold" rating to a "buy" rating in a research report on Monday, August 3rd. Finally, Arete Research set a $104.00 price objective on shares of Fortinet and gave the company a "buy" rating in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have assigned a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat, Fortinet currently has a consensus rating of "Hold" and a consensus target price of $150.91.

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.

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