Beacon Investment Advisory Services Inc. Sells 10,085 Shares of Fortinet, Inc. $FTNT

Key Points

• Beacon Investment Advisory Services cut its Fortinet stake by 4.2%, selling 10,085 shares and retaining 231,189 shares valued at approximately $35.5 million. Institutional investors collectively own 83.71% of Fortinet.
• Analyst sentiment remains mixed: Fortinet has a consensus “Hold” rating and a $150.91 target price, despite Cantor Fitzgerald raising its target to $185 and maintaining an overweight rating.
• Fortinet exceeded quarterly expectations, reporting $0.90 in earnings per share and $2.05 billion in revenue, with revenue up 25.6% year over year. The stock opened at $159.64, near its 12-month high of $172.09.

Beacon Investment Advisory Services Inc. reduced its stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 231,189 shares of the software maker's stock after selling 10,085 shares during the period. Fortinet accounts for approximately 1.3% of Beacon Investment Advisory Services Inc.'s investment portfolio, making the stock its 23rd biggest position. Beacon Investment Advisory Services Inc.'s holdings in Fortinet were worth $35,515,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Elevation Wealth Partners LLC grew its holdings in Fortinet by 53.6% during the second quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker's stock worth $33,000 after buying an additional 75 shares in the last quarter. Florida Financial Advisors LLC raised its position in Fortinet by 3.0% in the first quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker's stock worth $309,000 after acquiring an additional 109 shares during the period. Optimist Retirement Group LLC lifted its stake in 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 purchasing an additional 122 shares during the last quarter. PDS Planning Inc lifted its position in shares of Fortinet by 3.1% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the software maker's stock valued at $326,000 after buying an additional 123 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its position in Fortinet by 31.4% during the fourth quarter. GW&K Investment Management LLC now owns 515 shares of the software maker's stock worth $41,000 after purchasing an additional 123 shares during the period. Institutional investors and hedge funds own 83.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FTNT. HC Wainwright restated a "buy" rating on shares of Fortinet in a research note on Thursday, July 30th. Cantor Fitzgerald reissued an "overweight" rating and set a $185.00 target price (up from $165.00) on shares of Fortinet in a report on Thursday, July 30th. William Blair restated a "market perform" rating on shares of Fortinet in a research report on Tuesday, July 21st. Stephens set a $115.00 price target on Fortinet and gave the company an "equal weight" rating in a research report on Thursday, May 7th. Finally, Wolfe Research set a $175.00 price objective on Fortinet in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat, Fortinet currently has a consensus rating of "Hold" and a consensus target price of $150.91.

Fortinet Stock Performance

NASDAQ:FTNT opened at $159.64 on Friday. The stock has a market cap of $117.13 billion, a P/E ratio of 56.21, a PEG ratio of 3.04 and a beta of 1.07. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The business's 50-day moving average price is $153.54 and its two-hundred day moving average price is $112.10. Fortinet, Inc. has a twelve month low of $72.83 and a twelve month high of $172.09.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted 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. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The company had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same period in the prior year, the business earned $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 predict that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ken Xie sold 161,482 shares of the stock in a transaction on 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 transaction, the chief executive officer owned 52,972,372 shares of the company's stock, valued at $8,616,486,029.52. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president directly owned 9,923,610 shares of the company's stock, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Corporate insiders own 17.60% of the company's stock.

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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