Focus Partners Advisor Solutions LLC Takes Position in Fortinet, Inc. $FTNT

Focus Partners Advisor Solutions LLC acquired a new stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 21,084 shares of the software maker's stock, valued at approximately $3,239,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. lifted its holdings in shares of 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 purchasing an additional 245 shares during the period. Wexford Capital LP bought a new position in Fortinet during the 3rd quarter worth $25,000. Elyxium Wealth LLC bought a new position in Fortinet during the 4th quarter worth $27,000. Palisade Asset Management LLC acquired a new position in Fortinet during the 3rd quarter worth about $28,000. Finally, Ares Financial Consulting LLC acquired a new position in Fortinet during the 4th quarter worth about $29,000. 83.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

FTNT has been the subject of several recent research reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $185.00 price target (up from $165.00) on shares of Fortinet in a research note on Thursday, July 30th. BTIG Research lifted their price objective on Fortinet from $186.00 to $203.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. HSBC cut Fortinet from a "hold" rating to a "reduce" rating and set a $102.00 target price on the stock. in a report on Monday, June 29th. Royal Bank Of Canada set a $185.00 target price on shares of Fortinet and gave the company a "sector perform" rating in a research report on Thursday, July 30th. Finally, Truist Financial set a $183.00 price target on shares of Fortinet and gave the stock a "buy" rating in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eighteen have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, Fortinet has an average rating of "Hold" and an average price target of $150.91.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 3,121 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the transaction, the vice president directly owned 9,918,360 shares in the company, valued at approximately $1,613,022,886.80. This represents a 0.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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, COO John Whittle sold 146,015 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer directly owned 94,724 shares of the company's stock, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 475,157 shares of company stock worth $69,480,964. 17.60% of the stock is owned by corporate insiders.

Fortinet Stock Performance

Shares of Fortinet stock opened at $160.01 on Friday. The business has a 50-day moving average price of $155.05 and a two-hundred day moving average price of $115.09. Fortinet, Inc. has a 1-year low of $73.55 and a 1-year high of $172.09. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The company has a market cap of $117.40 billion, a P/E ratio of 56.34, a PEG ratio of 3.03 and a beta of 1.07.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the business earned $0.64 EPS. The firm's revenue 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, analysts anticipate that Fortinet, Inc. will post 3.05 EPS for the current year.

Fortinet 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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