Diversify Advisory Services LLC Makes New Investment in Fortinet, Inc. $FTNT

Diversify Advisory Services LLC bought a new position in Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 108,044 shares of the software maker's stock, valued at approximately $16,464,000.

A number of other large investors also recently made changes to their positions in FTNT. Physician Wealth Advisors Inc. lifted its holdings in Fortinet by 408.3% during the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker's stock worth $25,000 after acquiring an additional 245 shares during the period. Dunhill Financial LLC bought a new position in Fortinet in the 2nd quarter valued at $25,000. Wexford Capital LP purchased a new stake in shares of Fortinet during the 3rd quarter valued at $25,000. Elyxium Wealth LLC purchased a new stake in shares of Fortinet during the 4th quarter valued at $27,000. Finally, Palisade Asset Management LLC bought a new stake in shares of Fortinet during the 3rd quarter worth $28,000. 83.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the business's stock in a transaction on 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 sale, the chief executive officer owned 52,972,372 shares of the company's stock, valued at $8,616,486,029.52. The trade was a 0.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 3,907 shares of the stock in a transaction on 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 owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This represents a 0.04% 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. In the last ninety days, insiders sold 475,157 shares of company stock valued at $69,480,964. Company insiders own 17.60% of the company's stock.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Virtue AI acquisition strengthens AI security offering: Fortinet acquired Virtue AI to add continuous validation, monitoring and runtime protection for AI agents across their lifecycle. The technology is intended to expand Fortinet’s AI-Native Security Fabric as companies move enterprise AI applications into production. Fortinet Advances Continuous AI Protection with the Acquisition of Virtue AI
• Positive Sentiment: AI acquisitions support cloud-platform ambitions: Coverage highlights Fortinet’s broader push to build a cloud-based security platform through AI-related acquisitions. Investors may view the strategy as a way to accelerate growth in AI infrastructure, agent security and cloud security. Fortinet, IBD Stock of the Day, Steps Up AI Acquisitions to Build Cloud Platform
• Positive Sentiment: Analyst comparisons remain favorable: A Zacks analysis gives Fortinet an edge over CrowdStrike, citing SASE momentum, steadier execution and a relatively lower valuation. Other commentary points to projected revenue growth of roughly 19% this year and continued earnings growth, while Fortinet was also identified as a potential earnings-beat candidate. CRWD vs. FTNT: Which Cybersecurity Stock Should You Buy Right Now?
• Neutral Sentiment: Valuation and expectations are elevated: Fortinet has gained nearly 100% in 2026 and trades at a high earnings multiple, leaving the stock sensitive to any slowdown in growth or disappointment from future AI investments. Recent quarterly results exceeded estimates, providing support, but investors will need evidence that the acquisition strategy converts into sustainable revenue growth.

Fortinet Trading Up 1.4%

Shares of Fortinet stock opened at $158.01 on Wednesday. The stock has a market capitalization of $115.93 billion, a P/E ratio of 55.64, a P/E/G ratio of 3.03 and a beta of 1.07. Fortinet, Inc. has a 52-week low of $73.55 and a 52-week high of $172.09. 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 stock's 50-day simple moving average is $155.70 and its 200 day simple moving average is $116.37.

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 analysts' consensus estimates of $0.75 by $0.15. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The company's quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. 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, research analysts anticipate that Fortinet, Inc. will post 3.05 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FTNT. Morgan Stanley restated a "positive" rating and set a $136.00 price target (up from $133.00) on shares of Fortinet in a research report on Thursday, July 30th. Susquehanna boosted their target price on shares of Fortinet from $115.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. Arete Research set a $104.00 target price on shares of Fortinet and gave the company a "buy" rating in a research report on Monday, April 27th. William Blair restated a "market perform" rating on shares of Fortinet in a research note on Tuesday, July 21st. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Fortinet in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Fortinet currently has a consensus rating of "Hold" and an average target price 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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