40,044 Shares in Fortinet, Inc. $FTNT Purchased by Oxbow Advisors LLC

Key Points

• Oxbow Advisors acquired 40,044 Fortinet shares worth approximately $6.15 million during the second quarter. Hedge funds and other institutional investors collectively own 83.71% of FTNT.
• Analyst sentiment remains mixed, with Fortinet receiving an average “Hold” rating and a consensus price target of $150.91.
• Fortinet recently beat quarterly earnings and revenue estimates, reporting $0.90 in EPS and $2.05 billion in revenue, up 25.6% year over year. However, the stock trades at a relatively high P/E ratio of 55.64, while insiders have sold shares under pre-arranged trading plans.

Oxbow Advisors LLC acquired a new stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 40,044 shares of the software maker's stock, valued at approximately $6,152,000.

Several other hedge funds have also recently added to or reduced their stakes in FTNT. Physician Wealth Advisors Inc. raised its position in Fortinet by 408.3% during the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker's stock worth $25,000 after acquiring an additional 245 shares during the last quarter. Dunhill Financial LLC acquired a new stake in shares of Fortinet in the second quarter valued at approximately $25,000. Wexford Capital LP acquired a new stake in shares of Fortinet in the third quarter valued at approximately $25,000. Elyxium Wealth LLC purchased a new position in shares of Fortinet during the 4th quarter worth approximately $27,000. Finally, Palisade Asset Management LLC purchased a new position in shares of Fortinet during the 3rd quarter worth approximately $28,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FTNT shares. HC Wainwright reaffirmed a "buy" rating on shares of Fortinet in a research note on Thursday, July 30th. JPMorgan Chase & Co. boosted their price target on Fortinet from $73.00 to $75.00 and gave the stock an "underweight" rating in a report on Thursday, May 7th. UBS Group restated a "neutral" rating and issued a $180.00 price objective on shares of Fortinet in a research report on Thursday, July 30th. Stifel Nicolaus set a $175.00 price objective on Fortinet and gave the company a "hold" rating in a research note on Thursday, July 30th. Finally, Wells Fargo & Company set a $135.00 price objective on Fortinet and gave the stock an "underweight" rating in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $150.91.

Trending Headlines about Fortinet

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 other Fortinet news, CEO Ken Xie sold 161,482 shares of Fortinet 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 completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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, VP Michael Xie sold 3,907 shares of the company's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the transaction, 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 position. 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. Over the last ninety days, insiders sold 475,157 shares of company stock worth $69,480,964. 17.60% of the stock is currently owned by insiders.

Fortinet Stock Up 1.4%

FTNT stock opened at $158.01 on Wednesday. The stock has a market capitalization of $115.93 billion, a P/E 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 quick ratio of 1.19 and a current ratio of 1.28. Fortinet, Inc. has a one year low of $73.55 and a one year high of $172.09. The company has a 50 day moving average price of $155.70 and a two-hundred day moving average price of $116.37.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued 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 return on equity of 191.54% and a net margin of 28.17%.The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm posted $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. As a group, sell-side analysts expect that Fortinet, Inc. will post 3.05 EPS for the current year.

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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