25,875 Shares in Fortinet, Inc. $FTNT Purchased by Alamar Capital Management LLC

Key Points

• Alamar Capital Management purchased 25,875 Fortinet shares worth approximately $3.98 million, making FTNT its fifth-largest holding. Institutional investors and hedge funds collectively own 83.71% of the company.
• Fortinet reported quarterly EPS of $0.90 versus the $0.75 consensus estimate, while revenue rose 25.6% year over year to $2.05 billion. The company provided fiscal 2026 EPS guidance of $3.410–$3.470.
• Analysts maintain a consensus “Hold” rating with a $150.91 target price, while insider selling totaled 475,157 shares worth about $69.5 million over the past three months. Fortinet is also expanding its AI-security strategy through the acquisition of Virtue AI, though its elevated valuation increases sensitivity to slower growth.

Alamar Capital Management LLC purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,875 shares of the software maker's stock, valued at approximately $3,975,000. Fortinet comprises 2.0% of Alamar Capital Management LLC's holdings, making the stock its 5th largest position.

Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. bought a new position in Fortinet during the 2nd quarter worth $9,561,650,000. State Street Corp increased its holdings in shares of Fortinet by 1.6% during the third quarter. State Street Corp now owns 29,660,558 shares of the software maker's stock worth $2,493,860,000 after purchasing an additional 477,397 shares during the period. Norges Bank acquired a new stake in shares of Fortinet in the fourth quarter valued at approximately $1,152,917,000. Bank of New York Mellon Corp raised its position in shares of Fortinet by 6.6% in the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker's stock valued at $1,151,810,000 after buying an additional 893,190 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Fortinet by 45.5% in the first quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker's stock valued at $940,284,000 after buying an additional 3,598,487 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Stephens set a $115.00 price target on Fortinet and gave the stock an "equal weight" rating in a research report on Thursday, May 7th. Robert W. Baird set a $165.00 target price on Fortinet in a research report on Thursday, July 30th. Royal Bank Of Canada set a $185.00 target price on Fortinet and gave the stock a "sector perform" rating in a report on Thursday, July 30th. Weiss Ratings upgraded Fortinet from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 31st. Finally, William Blair reaffirmed a "market perform" rating on shares of Fortinet in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have issued a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $150.91.

Insider Activity at Fortinet

In related news, VP Michael Xie sold 3,121 shares of the company's stock in a transaction that occurred 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 in the company, valued at $1,613,022,886.80. This represents a 0.03% decrease in their position. The transaction was disclosed in a document filed 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, COO John Whittle sold 146,015 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the transaction, the chief operating officer directly owned 94,724 shares of the company's stock, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 475,157 shares of company stock valued at $69,480,964. 17.60% of the stock is owned by insiders.

Fortinet Trading Up 1.4%

Shares of FTNT opened at $158.01 on Wednesday. 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 52-week low of $73.55 and a 52-week high of $172.09. The firm has a market cap 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 business's fifty day moving average is $155.70 and its 200-day moving average is $116.37.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its quarterly earnings data 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%.Fortinet's revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the prior year, the company earned $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. Equities analysts anticipate that Fortinet, Inc. will post 3.05 EPS for the current fiscal 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.

About Fortinet

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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