AXQ Capital LP Has $1.13 Million Holdings in Fortinet, Inc. $FTNT

Key Points

• AXQ Capital cut its Fortinet stake by 85% in the second quarter, selling 41,649 shares and retaining 7,335 shares worth approximately $1.13 million. Institutional investors collectively own 83.71% of Fortinet.
• Fortinet reported quarterly earnings of $0.90 per share, beating estimates of $0.75, while revenue reached $2.05 billion and rose 25.6% year over year. The stock opened at $156.29, near its $150.91 consensus analyst price target.
• Analyst sentiment remains mixed, with ratings ranging from sell to strong buy and a consensus “Hold” rating. CEO Ken Xie and VP Michael Xie sold shares under pre-arranged plans to cover tax obligations, while insiders retain a 17.60% ownership stake.

AXQ Capital LP trimmed its position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 85.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,335 shares of the software maker's stock after selling 41,649 shares during the period. AXQ Capital LP's holdings in Fortinet were worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC grew its position in shares of Fortinet by 53.6% in the second quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker's stock valued at $33,000 after purchasing an additional 75 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of Fortinet by 1.0% during the second quarter. Sigma Planning Corp now owns 7,927 shares of the software maker's stock worth $1,218,000 after purchasing an additional 80 shares during the period. Florida Financial Advisors LLC increased its holdings in shares of Fortinet by 3.0% during the first quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker's stock worth $309,000 after purchasing an additional 109 shares during the period. Optimist Retirement Group LLC raised its position in shares of Fortinet by 2.5% in the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker's stock valued at $398,000 after buying an additional 122 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its stake in shares of Fortinet by 31.4% in the fourth quarter. GW&K Investment Management LLC now owns 515 shares of the software maker's stock valued at $41,000 after buying an additional 123 shares during the period. 83.71% of the stock is owned by institutional investors.

Fortinet Stock Performance

NASDAQ FTNT opened at $156.29 on Friday. The firm's fifty day moving average price is $158.88 and its two-hundred day moving average price is $122.99. The stock has a market cap of $114.67 billion, a PE ratio of 55.03, a PEG ratio of 2.96 and a beta of 1.06. 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 fifty-two week low of $73.55 and a fifty-two week high of $173.89.

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 for the quarter, topping analysts' consensus estimates of $0.75 by $0.15. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.Fortinet's quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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. On average, equities analysts expect that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.66, 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 in the company, valued at approximately $8,616,486,029.52. This represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 3,121 shares of the firm's stock in a transaction 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 transaction, the vice president directly owned 9,918,360 shares of the company's stock, valued at $1,613,022,886.80. The trade was a 0.03% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 17.60% of the company's stock.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet was highlighted as a growth-at-a-reasonable-price (GARP) stock, with analysts pointing to its 2026 growth outlook, rising earnings estimates and expanding AI-security opportunity. Zacks.com featured highlights including Fortinet
• Positive Sentiment: Fortinet was also included among founder-led technology companies with long-term innovation and growth potential, reinforcing the investment case around its leadership and strategic direction. Founder-led companies redefining technology and growth
• Positive Sentiment: Multiple Zacks features identify FTNT as a GARP candidate, suggesting analysts view its earnings and revenue prospects as attractive relative to its valuation and peer group. GARP stocks investors can consider
• Positive Sentiment: Fortinet continues to benefit from broader demand for AI-driven cybersecurity. Its latest reported quarter exceeded earnings and revenue estimates, with revenue increasing 25.6% year over year, supporting the bullish outlook.
• Neutral Sentiment: ControlMonkey added backup and disaster-recovery support for Fortinet security configurations. The announcement improves recoverability for customers but appears unlikely to materially affect Fortinet’s near-term financial results. ControlMonkey extends recovery to the security stack
• Negative Sentiment: A sharp reaction to Palo Alto Networks’ results despite strong growth highlighted how demanding investor expectations have become for cybersecurity stocks. That sector-wide valuation risk may be limiting upside for Fortinet even amid favorable company-specific commentary. Cybersecurity stocks react to Palo Alto results

Wall Street Analyst Weigh In

FTNT has been the topic of several analyst reports. Wells Fargo & Company set a $135.00 target price on Fortinet and gave the stock an "underweight" rating in a report on Thursday, July 30th. Citigroup upped their price objective on shares of Fortinet from $165.00 to $185.00 and gave the stock a "neutral" rating in a research report on Thursday, July 30th. TD Cowen reiterated a "buy" rating and set a $215.00 price objective (up from $160.00) on shares of Fortinet in a research note on Monday, July 13th. Stifel Nicolaus set a $175.00 target price on shares of Fortinet and gave the company a "hold" rating in a report on Thursday, July 30th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $190.00 target price on shares of Fortinet in a report on Thursday, July 30th. Two equities research 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $150.91.

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.

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