Corient Private Wealth LP Grows Position in Fortinet, Inc. $FTNT

Key Points

• Corient Private Wealth LP increased its Fortinet position by 426.2% in the second quarter, adding 160,649 shares to own 198,342 shares valued at approximately $30.5 million. 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 EPS of $0.90 exceeding the $0.75 consensus estimate. The company also issued fiscal 2026 EPS guidance of $3.41–$3.47.
• Despite favorable growth and cybersecurity-industry recognition, analyst sentiment remains mixed: Fortinet has a consensus “Hold” rating and an average price target of $150.91 versus a recent price of $156.07. Concerns include its premium valuation and recent insider sales conducted under pre-arranged plans.

Corient Private Wealth LP raised its position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 426.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,342 shares of the software maker's stock after acquiring an additional 160,649 shares during the period. Corient Private Wealth LP's holdings in Fortinet were worth $30,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of FTNT. Elevation Wealth Partners LLC increased 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 valued at $33,000 after buying an additional 75 shares during the period. Sigma Planning Corp raised its position in shares of Fortinet by 1.0% in the 2nd quarter. Sigma Planning Corp now owns 7,927 shares of the software maker's stock worth $1,218,000 after acquiring an additional 80 shares in the last quarter. Florida Financial Advisors LLC raised its position in shares of Fortinet by 3.0% in the 1st 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 in the last quarter. Optimist Retirement Group LLC lifted its stake in shares of Fortinet by 2.5% during the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker's stock worth $398,000 after purchasing an additional 122 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its stake in shares of Fortinet by 31.4% during the 4th 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 last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet was named a Leader in the 2026 Gartner Magic Quadrant for Hybrid Mesh Firewall and ranked highest for Ability to Execute for the second consecutive year. The recognition supports Fortinet’s competitive position in enterprise cybersecurity, particularly its integrated networking, cloud, AI and security offerings. Fortinet Named a Leader in the 2026 Gartner Magic Quadrant Report for Hybrid Mesh Firewall
• Positive Sentiment: Recent analysis cited Fortinet’s raised 2026 guidance, demand for AI-security products and expanding margins as fundamental support for the stock. Its latest reported quarter also showed revenue growth of approximately 26% year over year and an earnings beat, reinforcing the company’s growth case. Is FTNT Stock Worth Buying at a Premium P/S or Should Investors Wait?
• Neutral Sentiment: Fortinet recently advanced while the broader market declined, indicating relative strength, but the move does not alter the larger debate over whether the company’s valuation fully reflects its growth prospects. Fortinet Advances While Market Declines
• Negative Sentiment: Wedbush identified CrowdStrike as its leading cybersecurity pick while downgrading Fortinet, along with Check Point, Varonis and Telos. The downgrade likely adds selling pressure by raising concerns about relative upside after Fortinet’s substantial rally and elevated valuation. Wedbush Cybersecurity Downgrades
• Negative Sentiment: Fortinet’s premium price-to-sales valuation remains a concern, particularly with some analyst price targets below the current trading range. Reported insider activity also shows executives selling shares without disclosed open-market purchases during the past six months, which may weigh modestly on sentiment.

Analysts Set New Price Targets

FTNT has been the topic of several analyst reports. Truist Financial set a $183.00 target price on Fortinet and gave the company a "buy" rating in a research note on Tuesday, July 21st. Susquehanna boosted their price objective on Fortinet from $115.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Zacks Research raised Fortinet from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Evercore set a $165.00 price target on shares of Fortinet in a research note on Thursday, July 30th. Finally, Cantor Fitzgerald restated a "neutral" rating on shares of Fortinet in a research report on Monday, August 24th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $150.91.

Fortinet Stock Performance

FTNT opened at $156.07 on Monday. The firm has a market capitalization of $114.51 billion, a PE ratio of 54.95, a PEG ratio of 2.94 and a beta of 1.06. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $173.89. The firm's 50-day moving average price is $158.99 and its 200 day moving average price is $125.98. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its earnings results 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. The business had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The business's revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the firm 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. As a group, sell-side analysts expect that Fortinet, Inc. will post 3.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Michael Xie sold 3,121 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.63, for a total value of $507,568.23. Following the completion of the sale, the vice president owned 9,918,360 shares of the company's stock, valued at approximately $1,613,022,886.80. This represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, CEO Ken Xie sold 161,482 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the sale, the chief executive officer owned 52,972,372 shares of the company's stock, valued at approximately $8,616,486,029.52. The trade was a 0.30% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 17.60% of the company's stock.

Fortinet Profile

Fortinet, Inc develops cybersecurity products and services designed to protect enterprise, small and midsize business, service provider, and government networks. Its portfolio covers network security, endpoint protection, cloud security, secure access service edge (SASE), security operations, and zero-trust access.

The company's offerings include FortiGate next-generation firewalls, FortiSwitch secure networking switches, FortiAP wireless access points, FortiClient endpoint security, and FortiManager and FortiAnalyzer management and analytics tools.

Want to see what other hedge funds are holding FTNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortinet, Inc. (NASDAQ:FTNT - Free Report).

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.