55,613 Shares in Fortinet, Inc. $FTNT Acquired by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management acquired 55,613 Fortinet shares worth approximately $8.5 million in the second quarter. Institutional investors collectively own 83.71% of FTNT.
• Fortinet reported strong quarterly results, with revenue rising 25.6% year over year to $2.05 billion and earnings of $0.90 per share, exceeding analysts’ $0.75 estimate.
• FTNT opened at $153.51, while analysts’ consensus rating was “Hold” with an average price target of $150.91. Insiders sold $50.7 million of stock over the past three months, primarily through pre-arranged trading plans.

Northwestern Mutual Wealth Management Co. bought a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 55,613 shares of the software maker's stock, valued at approximately $8,543,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Fortinet by 2.2% during the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker's stock valued at $976,000 after acquiring an additional 221 shares during the period. Bison Wealth LLC purchased a new position in Fortinet during the fourth quarter valued at approximately $585,000. HUB Investment Partners LLC boosted its position in shares of Fortinet by 29.1% in the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker's stock worth $560,000 after purchasing an additional 1,193 shares during the period. Diversify Advisory Services LLC bought a new position in shares of Fortinet in the second quarter worth approximately $1,136,000. Finally, Quantinno Capital Management LP increased its stake in shares of Fortinet by 27.4% in the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker's stock worth $15,328,000 after purchasing an additional 31,202 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company's stock.

Insiders Place Their Bets

In other Fortinet news, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company's stock, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 business's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the sale, the vice president owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This trade 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 sold a total of 329,142 shares of company stock valued at $50,731,178 over the last three months. Corporate insiders own 17.60% of the company's stock.

Fortinet Price Performance

Shares of FTNT opened at $153.51 on Monday. The stock has a market capitalization of $112.63 billion, a price-to-earnings ratio of 54.05, a price-to-earnings-growth ratio of 2.91 and a beta of 1.07. Fortinet, Inc. has a 1 year low of $73.55 and a 1 year high of $172.09. The business's 50 day simple moving average is $156.24 and its 200-day simple moving average is $117.87. 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 posted its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the firm posted $0.64 earnings per share. Fortinet's revenue for the quarter was up 25.6% compared to the same quarter last year. 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 expect that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FTNT shares. Evercore set a $165.00 price objective on shares of Fortinet in a research report on Thursday, July 30th. Royal Bank Of Canada set a $185.00 target price on shares of Fortinet and gave the stock a "sector perform" rating in a report on Thursday, July 30th. Mizuho set a $125.00 price target on Fortinet and gave the stock an "underperform" rating in a research note on Wednesday, July 15th. Rosenblatt Securities raised their price target on Fortinet from $185.00 to $195.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Finally, Truist Financial set a $183.00 price objective on Fortinet and gave the company a "buy" rating in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Fortinet has an average rating of "Hold" and a consensus price target 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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