Fortinet, Inc. $FTNT Shares Purchased by Wealthfront Advisers LLC

Key Points

• Wealthfront Advisers LLC increased its Fortinet stake by 16.4% in the first quarter, adding 15,120 shares and bringing its total holding to 107,535 shares worth about $8.79 million.
• Fortinet reported better-than-expected Q1 results, with EPS of $0.82 versus $0.62 expected and revenue of $1.85 billion, up 20.1% year over year.
• Analyst sentiment remains mixed despite some upgrades: Fortinet’s consensus rating is Hold, with an average price target of $113.97, even as some firms raised targets and others upgraded the stock.

Wealthfront Advisers LLC increased its stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 16.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,535 shares of the software maker's stock after buying an additional 15,120 shares during the period. Wealthfront Advisers LLC's holdings in Fortinet were worth $8,788,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FTNT. Physician Wealth Advisors Inc. boosted its stake in shares of Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker's stock worth $25,000 after acquiring an additional 245 shares in the last quarter. Wexford Capital LP acquired a new stake in shares of Fortinet in the 3rd quarter worth approximately $25,000. Elyxium Wealth LLC purchased a new position in Fortinet in the 4th quarter valued at approximately $27,000. Palisade Asset Management LLC purchased a new position in Fortinet in the 3rd quarter valued at approximately $28,000. Finally, Ares Financial Consulting LLC acquired a new position in Fortinet during the fourth quarter worth $29,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Price Performance

FTNT stock opened at $161.61 on Friday. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $170.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The stock's 50 day moving average price is $144.30 and its 200 day moving average price is $103.80. The firm has a market cap of $118.40 billion, a P/E ratio of 62.40, a PEG ratio of 4.37 and a beta of 1.09.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the business posted $0.58 earnings per share. Fortinet's revenue was up 20.1% compared to the same quarter last year. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. On average, sell-side analysts expect that Fortinet, Inc. will post 2.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FTNT has been the topic of several research reports. Susquehanna upped their target price on Fortinet from $90.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Piper Sandler lifted their price target on Fortinet from $90.00 to $110.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Weiss Ratings raised Fortinet from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, June 11th. Scotiabank boosted their price objective on shares of Fortinet from $85.00 to $110.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 7th. Finally, Wall Street Zen raised shares of Fortinet from a "hold" rating to a "buy" rating in a research note on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-three have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $113.97.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet received an upgrade from Zacks Research to strong-buy, reinforcing a more constructive analyst view ahead of earnings. Zacks Research upgrade
• Positive Sentiment: Wall Street Zen upgraded Fortinet (FTNT) to buy, which could support investor confidence. Wall Street Zen upgrade
• Positive Sentiment: Several cybersecurity-focused articles highlighted FTNT as a beneficiary of rising agentic AI adoption, suggesting stronger long-term demand for security products. Agentic AI article
• Neutral Sentiment: Multiple previews ahead of Fortinet’s Q2 2026 earnings say analysts expect double-digit bottom-line growth, but the market is still waiting for the actual report, so this is more of a setup than a catalyst. Q2 2026 earnings preview
• Neutral Sentiment: Fortinet’s consensus broker recommendation remains Hold, indicating analysts are still mixed overall despite the recent upgrades. Consensus hold rating
• Negative Sentiment: One market report said Fortinet underperformed competitors on Thursday, which may have capped upside and suggests some relative weakness in the group. Underperforms competitors

Insider Activity at Fortinet

In related news, VP Michael Xie sold 3,907 shares of the business's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the transaction, the vice president owned 9,923,610 shares of the company's stock, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. This trade represents a 0.30% 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. Insiders have sold a total of 318,387 shares of company stock valued at $43,403,063 over the last quarter. Insiders own 17.60% of the company's stock.

About Fortinet

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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