Envestnet Portfolio Solutions Inc. Increases Position in Fortinet, Inc. $FTNT

Key Points

• Envestnet Portfolio Solutions increased its Fortinet position by 681.7% in the second quarter, ending with 40,608 shares valued at $6.24 million. Institutional investors collectively own 83.71% of Fortinet.
• Fortinet reported strong quarterly performance, with revenue up 25.6% year over year to $2.05 billion and adjusted EPS of $0.90, exceeding analyst expectations of $0.75.
• Despite strong cybersecurity and AI-related demand, Fortinet’s valuation remains elevated at a P/E ratio of 62.91. Wall Street’s consensus rating is Hold, with an average price target of $152.79 versus the stock’s recent price near $178.67.

Envestnet Portfolio Solutions Inc. grew its position in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 681.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,608 shares of the software maker's stock after buying an additional 35,413 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Fortinet were worth $6,238,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Transamerica Financial Advisors LLC acquired a new position in Fortinet in the 2nd quarter worth $492,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Fortinet in the fourth quarter valued at about $14,638,000. Westerkirk Capital Inc. boosted its position in shares of Fortinet by 41.9% during the fourth quarter. Westerkirk Capital Inc. now owns 52,500 shares of the software maker's stock worth $4,169,000 after buying an additional 15,500 shares during the period. QRG Capital Management Inc. grew its holdings in shares of Fortinet by 21.4% during the first quarter. QRG Capital Management Inc. now owns 75,491 shares of the software maker's stock worth $6,169,000 after buying an additional 13,294 shares in the last quarter. Finally, Vista Investment Partners LLC raised its position in Fortinet by 53.1% in the 2nd quarter. Vista Investment Partners LLC now owns 49,058 shares of the software maker's stock valued at $7,537,000 after buying an additional 17,018 shares during the last quarter. Institutional investors own 83.71% of the company's stock.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Emerald Wealth Partners highlighted Fortinet as a beneficiary of expanding cybersecurity spending and growing AI adoption in its Q2 2026 Growth Equity Strategy letter. The firm’s commentary reinforces the view that cybersecurity is becoming a mission-critical expense as AI expands corporate attack surfaces. Fortinet is Positioned to Benefit From an Expanding Cybersecurity Market and AI Adoption
• Positive Sentiment: Recent coverage identified Fortinet among cybersecurity stocks riding the AI-security boom. Fortinet gained 8.8% during the September 11–18 trading week as investors responded to warnings about unpredictable AI behavior and the need for stronger security controls. 7 Cybersecurity Stocks Riding the AI Security Boom
• Positive Sentiment: Multiple reports said Fortinet reached a record or new-peak price, citing booming cybersecurity and AI-security demand. The bullish narrative is supported by the company’s latest quarterly results: revenue rose 25.6% year over year to $2.05 billion and adjusted EPS exceeded expectations. Fortinet Stock Surges to New Peak Amid Booming AI Security Demand
• Positive Sentiment: Analyst-oriented coverage also listed FTNT as a potential GARP investment and noted that it has outperformed many computer and technology peers, adding to momentum-driven buying interest. Add These 4 GARP Stocks to Your Portfolio to Receive Handsome Returns
• Neutral Sentiment: A September 24 short-interest report listed zero shares sold short and a 0.0-day short-interest ratio. That suggests no measurable short-selling pressure, although the figure may reflect a data or reporting anomaly rather than a meaningful change in investor positioning.
• Negative Sentiment: Despite the favorable outlook, Fortinet’s valuation is demanding, with a high earnings multiple after its sharp rally. Earlier reports also documented modest sessions of weakness, indicating that profit-taking could remain a risk if AI-security enthusiasm fades or growth expectations disappoint.

Fortinet Stock Down 0.0%

Fortinet stock opened at $178.67 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. The company's 50-day moving average is $161.22 and its 200-day moving average is $131.91. The firm has a market capitalization of $131.09 billion, a PE ratio of 62.91, a P/E/G ratio of 3.28 and a beta of 1.06. Fortinet, Inc. has a fifty-two week low of $73.55 and a fifty-two week high of $181.37.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The business had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter last year, the company posted $0.64 earnings per share. Fortinet's quarterly revenue was up 25.6% on a year-over-year basis. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Sell-side analysts anticipate that Fortinet, Inc. will post 3.07 earnings per share for the current year.

Wall Street Analyst Weigh In

FTNT has been the topic of several research reports. Scotiabank restated a "sector perform" rating and issued a $163.00 target price on shares of Fortinet in a research note on Thursday, July 30th. TD Cowen restated a "buy" rating on shares of Fortinet in a report on Wednesday, September 16th. Wolfe Research set a $175.00 target price on shares of Fortinet in a research report on Thursday, July 30th. HSBC cut shares of Fortinet from a "hold" rating to a "reduce" rating and set a $102.00 price target on the stock. in a research report on Monday, June 29th. Finally, UBS Group restated a "neutral" rating and issued a $180.00 price objective 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 given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $152.79.

Insider Activity at Fortinet

In other Fortinet news, COO John Whittle sold 2,835 shares of the company's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $168.74, for a total value of $478,377.90. Following the transaction, the chief operating officer directly owned 96,987 shares in the company, valued at $16,365,586.38. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,121 shares of the company'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 completion of the transaction, the vice president owned 9,918,360 shares in the company, valued at approximately $1,613,022,886.80. This represents a 0.03% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 221,303 shares of company stock worth $36,164,034. 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.

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