Diversify Wealth Management LLC Increases Stock Position in Fortinet, Inc. $FTNT

Key Points

• Diversify Wealth Management boosted its Fortinet (FTNT) stake by 40.7% in Q4 to 61,626 shares, valued at about $4.83 million.
• Fortinet reported a strong Q1—revenue +20% YoY to $1.85B and an EPS beat—and raised Q2 and FY‑2026 guidance while expanding its FortiGate G series for AI/data‑center security, reinforcing the growth story.
• Analyst coverage is mixed: MarketBeat shows a consensus rating of "Hold" with an average price target of $99.04, though some firms have raised targets and others remain cautious, leaving upside uncertain.

Diversify Wealth Management LLC boosted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 40.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,626 shares of the software maker's stock after buying an additional 17,824 shares during the quarter. Diversify Wealth Management LLC's holdings in Fortinet were worth $4,827,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of FTNT. Steigerwald Gordon & Koch Inc. purchased a new position in Fortinet during the third quarter worth about $25,000. Pinnacle Holdings LLC purchased a new position in Fortinet during the third quarter worth about $25,000. Ameriflex Group Inc. purchased a new position in Fortinet during the third quarter worth about $25,000. Wexford Capital LP purchased a new position in Fortinet during the third quarter worth about $25,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Fortinet during the third quarter worth about $28,000. Hedge funds and other institutional investors own 83.71% of the company's stock.

Fortinet Stock Performance

Shares of Fortinet stock opened at $107.97 on Friday. The firm has a market capitalization of $79.04 billion, a P/E ratio of 41.69, a P/E/G ratio of 3.08 and a beta of 0.92. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $112.39. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. The firm's 50 day moving average is $82.97 and its two-hundred day moving average is $81.98.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.62 by $0.20. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 149.52%. The firm's revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Research analysts forecast that Fortinet, Inc. will post 2.63 EPS for the current fiscal year.

Analysts Set New Price Targets

FTNT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $100.00 price target on shares of Fortinet in a research report on Thursday. Sanford C. Bernstein reissued a "market perform" rating and set a $83.00 price target on shares of Fortinet in a research report on Friday, February 6th. BMO Capital Markets increased their price target on shares of Fortinet from $95.00 to $100.00 and gave the stock a "market perform" rating in a research report on Monday. Wells Fargo & Company reissued an "underweight" rating and set a $70.00 price target (up from $64.00) on shares of Fortinet in a research report on Thursday. Finally, Freedom Capital cut shares of Fortinet from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-three have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Fortinet currently has a consensus rating of "Hold" and an average price target of $99.04.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet reported a blowout Q1: revenue +20% YoY to $1.85B, billings +31%, product revenue +41%, strong margins and record cash flow; management raised Q2 and FY‑2026 guidance, which underpins the rally. Fortinet Reports Strong First Quarter 2026 Financial Results
• Positive Sentiment: Fortinet expanded its FortiGate G series (3500G/400G) targeting AI/data‑center security — a product push that supports the company’s positioning in AI-driven security demand. Fortinet Expands FortiGate G Series
• Positive Sentiment: Multiple sell‑side firms raised price targets and in some cases upgraded the stock (notable: Rosenblatt and BTIG raised targets to $125 with buy calls), reinforcing the upside narrative after the results. Analyst Notes & Price Target Moves
• Neutral Sentiment: UBS increased its price target to $115 but kept a “neutral” rating — the higher target supports valuation but UBS did not move to a buy stance. UBS Price Target Raise
• Neutral Sentiment: Insider sale disclosed: VP Michael Xie sold shares under a 10b5‑1 plan to cover taxes on vested awards — routine but may draw attention from some traders. Insider Sale Disclosure
• Negative Sentiment: Some banks raised targets while keeping conservative stances: JPMorgan lifted its target to $75 but kept an “underweight” call (large downside vs. current levels), and Mizuho moved its PT to $86 with an “underperform” rating — these notes could cap upside if optimism fades. JPMorgan / Mizuho Research Notes
• Negative Sentiment: Background analyst mix and some institutional trimming remain (several holds and sell ratings still on tape); if future quarters slow or AI tailwinds disappoint, valuation could be pressured. Institutional & Analyst Coverage Context

Insider Activity at Fortinet

In other Fortinet news, CEO Ken Xie sold 5,355 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.90, for a total value of $476,059.50. Following the transaction, the chief executive officer directly owned 52,978,004 shares in the company, valued at $4,709,744,555.60. This represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 2,478 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.89, for a total transaction of $220,269.42. Following the completion of the transaction, the vice president owned 9,927,517 shares in the company, valued at $882,456,986.13. This represents a 0.02% 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. Corporate insiders own 17.20% of the company's stock.

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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