421,954 Shares in Fortinet, Inc. $FTNT Purchased by NewEdge Wealth LLC

Key Points

• NewEdge Wealth purchased 421,954 Fortinet shares in the second quarter, valued at approximately $64.8 million, giving it a 0.06% stake. Institutional investors collectively own 83.71% of the company.
• Fortinet reported strong quarterly results, with EPS of $0.90 versus the $0.75 consensus and revenue of $2.05 billion, up 25.6% year over year. The company issued fiscal 2026 EPS guidance of $3.410–$3.470.
• Analyst sentiment remains mixed: the stock has an average “Hold” rating and a $150.91 price target, while shares opened at $152.85 after recently trading between $73.55 and $172.09.

NewEdge Wealth LLC purchased a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 421,954 shares of the software maker's stock, valued at approximately $64,821,000. NewEdge Wealth LLC owned about 0.06% of Fortinet as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC bought a new position in shares of Fortinet in the second quarter valued at approximately $25,000. Elevation Wealth Partners LLC grew its position in Fortinet by 53.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker's stock worth $33,000 after acquiring an additional 75 shares during the last quarter. Wexford Capital LP bought a new stake in Fortinet during the 3rd quarter worth approximately $25,000. Physician Wealth Advisors Inc. increased its holdings in Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker's stock valued at $25,000 after purchasing an additional 245 shares in the last quarter. Finally, Palisade Asset Management LLC acquired a new stake in Fortinet during the 3rd quarter valued at $28,000. 83.71% of the stock is owned by institutional investors.

Insider Transactions at Fortinet

In other Fortinet 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 sale, 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 position. The sale was disclosed in a document filed 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, CEO Ken Xie sold 161,482 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. The trade was a 0.30% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 329,142 shares of company stock valued at $50,731,178. Corporate insiders own 17.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. TD Cowen reissued a "buy" rating and issued a $215.00 price objective (up from $160.00) on shares of Fortinet in a research note on Monday, July 13th. Susquehanna raised their target price on Fortinet from $115.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. HC Wainwright reaffirmed a "buy" rating on shares of Fortinet in a report on Thursday, July 30th. Stifel Nicolaus set a $175.00 price target on shares of Fortinet and gave the stock a "hold" rating in a research report on Thursday, July 30th. Finally, Rosenblatt Securities increased their price objective on shares of Fortinet from $185.00 to $195.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eighteen have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $150.91.

Fortinet Stock Down 3.3%

Shares of FTNT opened at $152.85 on Thursday. The firm has a market capitalization of $112.15 billion, a price-to-earnings ratio of 53.82, a PEG ratio of 3.00 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. The business's fifty day moving average price is $155.98 and its two-hundred day moving average price is $116.87. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $172.09.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS 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 analysts' expectations of $1.89 billion. During the same period last year, the firm earned $0.64 EPS. The business'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. On average, analysts predict that Fortinet, Inc. will post 3.05 earnings per share for the current year.

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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