Fortinet, Inc. $FTNT Shares Bought by NewEdge Advisors LLC

Key Points

• NewEdge Advisors increased its Fortinet stake by 315.6% in the second quarter, owning 18,187 shares valued at approximately $2.8 million. Institutional investors collectively hold 83.71% of FTNT’s outstanding stock.
• Fortinet insiders sold 221,303 shares worth about $36.2 million over the past 90 days, including sales by the CEO and COO under pre-arranged Rule 10b5-1 plans.
• Fortinet exceeded quarterly earnings and revenue expectations, with revenue up 25.6% year over year, but its shares trade near a 52-week high at a demanding forward valuation. Analysts’ average rating remains “Hold,” with a consensus price target of $150.91.

NewEdge Advisors LLC raised its stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 315.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 18,187 shares of the software maker's stock after buying an additional 13,811 shares during the period. NewEdge Advisors LLC's holdings in Fortinet were worth $2,794,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of FTNT. Expressive Wealth LLC acquired a new position in shares of Fortinet in the 4th quarter valued at $646,000. Transamerica Financial Advisors LLC acquired a new stake in Fortinet during the second quarter valued at $492,000. Leonteq Securities AG acquired a new stake in Fortinet during the fourth quarter valued at $10,422,000. Eurizon Capital SGR S.p.A. purchased a new position in Fortinet in the fourth quarter valued at $14,638,000. Finally, Westerkirk Capital Inc. increased its holdings in Fortinet by 41.9% in the fourth quarter. Westerkirk Capital Inc. now owns 52,500 shares of the software maker's stock valued at $4,169,000 after buying an additional 15,500 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company's stock.

Insider Buying and Selling

In related news, CEO Ken Xie sold 161,482 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company's stock, valued at approximately $8,616,486,029.52. This represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 2,835 shares of the firm'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 completion of the transaction, the chief operating officer owned 96,987 shares in the company, valued at $16,365,586.38. The trade was a 2.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 221,303 shares of company stock worth $36,164,034. 17.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FTNT shares. HC Wainwright reiterated a "buy" rating on shares of Fortinet in a research report on Thursday, July 30th. BTIG Research raised their target price on Fortinet from $186.00 to $203.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $160.00 price target on shares of Fortinet in a research note on Thursday, July 30th. Bank of America reiterated a "buy" rating on shares of Fortinet in a research report on Monday, July 27th. Finally, Weiss Ratings raised Fortinet from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, September 4th. Two equities 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $150.91.

Fortinet Trading Down 0.3%

Shares of Fortinet stock opened at $171.77 on Thursday. 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, Inc. has a twelve month low of $73.55 and a twelve month high of $174.61. The firm has a market capitalization of $126.03 billion, a PE ratio of 60.48, a P/E/G ratio of 3.24 and a beta of 1.06. The firm's 50-day moving average price is $159.72 and its 200 day moving average price is $127.97.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.75 by $0.15. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.Fortinet's quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the business earned $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. On average, sell-side analysts predict that Fortinet, Inc. will post 3.07 EPS for the current fiscal year.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet opened a company-owned Innovation Hub in New York City featuring cybersecurity training labs, customer demonstration areas, executive briefing facilities and a Fortinet Cloud point of presence. The facility is intended to deepen relationships with customers and partners and expand Fortinet’s U.S. presence. Fortinet New York Innovation Hub announcement
• Positive Sentiment: Fortinet was named a Leader in the 2026 Gartner Magic Quadrant for Hybrid Mesh Firewall, supporting the company’s competitive positioning in an important cybersecurity market.
• Positive Sentiment: FTNT recently moved above its 20-day and 50-day moving averages, signals that technical traders generally interpret as improving short-term momentum and a potential bullish trend. Fortinet moving average analysis
• Neutral Sentiment: Fortinet will participate with Broadcom, CrowdStrike, Palo Alto Networks and Sophos in SE Labs’ new independent PIVOT security-testing program. Results are expected in early 2027, so the immediate financial impact is unclear.
• Negative Sentiment: COO John Whittle sold a combined 56,700 FTNT shares for approximately $9.4 million, reducing his direct ownership by about 35.7%. Both transactions were executed under a pre-arranged Rule 10b5-1 plan, which reduces the significance of the sales as a discretionary bearish signal but may still weigh on sentiment. SEC insider trading filing
• Negative Sentiment: FTNT’s valuation remains demanding, with a price-to-earnings ratio above 60 and shares near their 52-week high. That leaves the stock vulnerable to profit-taking or disappointment despite strong fundamentals, including recent revenue growth, earnings beats and fiscal 2026 guidance.

Fortinet Company 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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