Fortinet, Inc. $FTNT Shares Newly Purchased by MinichMacGregor Wealth Management LLC

Key Points

• MinichMacGregor Wealth Management initiated a Fortinet position by purchasing 5,905 shares worth approximately $1.06 million. Institutional investors collectively own 83.71% of Fortinet.
• Fortinet’s latest quarterly results exceeded expectations, with adjusted EPS of $0.90 versus the $0.75 consensus and revenue of $2.05 billion, up 25.6% year over year. The company reaffirmed fiscal 2026 EPS guidance of $3.41–$3.47.
• Despite strong operating results and partnerships supporting growth, analysts maintain a consensus “Hold” rating with an average price target of $156.80, below the reported share price of $185.44; valuation concerns and insider selling remain investor risks.

MinichMacGregor Wealth Management LLC bought a new position in Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,905 shares of the software maker's stock, valued at approximately $1,056,000.

A number of other hedge funds also recently bought and sold shares of the company. Physician Wealth Advisors Inc. grew 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 valued at $25,000 after purchasing an additional 245 shares during the period. Dunhill Financial LLC purchased a new stake in Fortinet in the 2nd quarter worth $25,000. Burk Holdings LLC purchased a new stake in shares of Fortinet during the second quarter worth about $25,000. Cornerstone Financial Management LLC raised its stake in Fortinet by 102.5% during the 2nd quarter. Cornerstone Financial Management LLC now owns 164 shares of the software maker's stock valued at $25,000 after purchasing an additional 83 shares during the period. Finally, Maseco LLP purchased a new stake in Fortinet during the 1st quarter valued at approximately $29,000. Hedge funds and other institutional investors own 83.71% of the company's stock.

Fortinet Stock Down 2.8%

Shares of Fortinet stock traded down $5.32 during trading on Wednesday, hitting $185.44. 1,316,062 shares of the stock traded hands, compared to its average volume of 5,833,107. 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 stock's fifty day simple moving average is $168.31 and its 200 day simple moving average is $141.21. The firm has a market cap of $136.06 billion, a P/E ratio of 65.33, a price-to-earnings-growth ratio of 3.60 and a beta of 1.03. Fortinet, Inc. has a 52-week low of $73.55 and a 52-week high of $197.13.

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, beating the consensus estimate of $0.75 by $0.15. The business 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $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, equities analysts predict that Fortinet, Inc. will post 3.10 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FTNT has been the topic of several research analyst reports. BMO Capital Markets boosted their price target on shares of Fortinet from $170.00 to $185.00 and gave the stock a "market perform" rating in a research note on Thursday, July 30th. Morgan Stanley reiterated a "positive" rating and set a $136.00 price objective (up from $133.00) on shares of Fortinet in a research report on Thursday, July 30th. Capital One Financial lifted their price target on Fortinet from $150.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Piper Sandler reaffirmed a "neutral" rating and set a $175.00 price objective (up from $110.00) on shares of Fortinet in a research note on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of Fortinet from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-one have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, Fortinet presently has a consensus rating of "Hold" and an average target price of $156.80.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Expanded Atos partnership supports enterprise growth. Atos is expanding its longstanding relationship with Fortinet into a global engagement covering hybrid- and multi-cloud cybersecurity. The broader deployment opportunity could improve Fortinet’s reach among large international customers. Atos expands partnership with Fortinet
• Positive Sentiment: Analysts continue to highlight Fortinet’s growth and profitability. Coverage points to strong SASE growth, rising services revenue, record margins, AI-security initiatives and a comparatively lower valuation than Cloudflare. Barclays also raised its price target from $190 to $210, supporting the bullish narrative. NET vs. FTNT comparison Barclays raises Fortinet target
• Positive Sentiment: Upcoming results are a near-term catalyst. Fortinet has scheduled its next earnings report for October 28. Investors will look for confirmation of recent execution, including the latest quarter’s revenue growth, earnings beat and full-year 2026 EPS guidance of $3.41-$3.47. Fortinet schedules October 28 results
• Neutral Sentiment: Fortinet’s AI-security positioning and exposure at GovWare 2026 are increasing investor attention, although the event itself does not provide a new financial forecast or contract announcement. Fortinet AI security and GovWare coverage
• Negative Sentiment: Sector sentiment weakened after reports that OpenAI plans to acquire a cybersecurity startup. The news raised concerns about increasing competition and contributed to declines across major cybersecurity stocks, including Fortinet. OpenAI cybersecurity deal affects sector
• Negative Sentiment: Valuation and profit-taking remain concerns. Commentators argue that FTNT’s sharp rally has moved the stock ahead of its underlying value; one analysis estimates substantial overvaluation and another downgraded the shares. Rising chip costs and product-mix pressure could also challenge margins. Fortinet valuation downgrade

Insider Transactions at Fortinet

In other news, COO John Whittle sold 2,835 shares of the company's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $168.74, for a total transaction of $478,377.90. Following the transaction, the chief operating officer owned 96,987 shares in the company, valued at $16,365,586.38. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total transaction 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. 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. Over the last 90 days, insiders have sold 221,303 shares of company stock worth $36,164,034. Insiders own 17.60% of the company's stock.

Fortinet Profile

Fortinet, Inc develops and provides cybersecurity products and services for businesses, governments, and service providers. The company's portfolio is designed to protect networks, endpoints, applications, cloud environments, and operational technology from cyber threats.

Its offerings include FortiGate next-generation firewalls, FortiSwitch secure networking switches, FortiAP wireless access points, FortiClient endpoint security, and FortiSASE secure access service edge solutions. Fortinet also provides centralized management and analytics through products such as FortiManager and FortiAnalyzer, along with security operations, threat intelligence, and other subscription-based services through its FortiGuard portfolio.

Founded in 2000, Fortinet serves customers globally through direct sales, channel partners, and managed security service providers.

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