Fortinet, Inc. $FTNT Stock: MBL Wealth LLC Grows Position

Key Points

• MBL Wealth LLC increased its Fortinet stake by 363% in the third quarter, bringing its holdings to 8,612 shares valued at approximately $1.54 million. Institutional investors collectively own 83.71% of Fortinet.
• Fortinet reported better-than-expected quarterly results, with EPS of $0.90 versus the $0.75 consensus estimate and revenue of $2.05 billion, up 25.6% year over year.
• Analyst sentiment remains mixed: Fortinet has an average “Hold” rating and a $161.75 target price versus its recent $172.98 share price. Executives also sold shares under pre-arranged plans, primarily to cover tax obligations.

MBL Wealth LLC increased its stake in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 363.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,612 shares of the software maker's stock after acquiring an additional 6,752 shares during the period. MBL Wealth LLC's holdings in Fortinet were worth $1,539,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Fortinet during the 2nd quarter valued at about $9,561,650,000. Bank of New York Mellon Corp purchased a new position in Fortinet in the 2nd quarter worth approximately $1,432,842,000. Legal & General Group Plc purchased a new position in Fortinet in the 2nd quarter worth approximately $979,062,000. First Trust Advisors LP increased its stake in Fortinet by 45.5% in the 1st quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker's stock worth $940,284,000 after purchasing an additional 3,598,487 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Fortinet by 87.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker's stock valued at $788,682,000 after purchasing an additional 4,500,194 shares during the last quarter. Institutional investors own 83.71% of the company's stock.

Fortinet Price Performance

Shares of FTNT stock opened at $172.98 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. Fortinet, Inc. has a fifty-two week low of $73.55 and a fifty-two week high of $197.13. The firm has a market cap of $126.92 billion, a P/E ratio of 60.91, a P/E/G ratio of 3.25 and a beta of 1.03. The business's 50 day moving average price is $170.07 and its 200-day moving average price is $145.84.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same period last year, the company posted $0.64 EPS. The company's quarterly 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. On average, equities research analysts anticipate that Fortinet, Inc. will post 3.10 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FTNT shares. Piper Sandler reissued 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. Rosenblatt Securities raised their target price on shares of Fortinet from $185.00 to $195.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Stephens lifted their target price on shares of Fortinet from $160.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 30th. UBS Group reiterated a "neutral" rating and set a $200.00 price target on shares of Fortinet in a report on Thursday, October 15th. Finally, Wells Fargo & Company upped their price target on shares of Fortinet from $135.00 to $160.00 and gave the company an "underweight" rating in a report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have given a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, Fortinet presently has an average rating of "Hold" and an average target price of $161.75.

Insider Activity

In other news, VP Michael Xie sold 3,121 shares of Fortinet stock in a transaction that occurred 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 directly owned 9,918,360 shares in the company, valued at approximately $1,613,022,886.80. This trade represents a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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, CEO Ken Xie sold 161,482 shares of the business's 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 sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at $8,616,486,029.52. This trade represents a 0.30% 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. Over the last ninety days, insiders sold 221,303 shares of company stock worth $36,164,034. Insiders own 17.60% of the company's stock.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet’s integrated hardware-and-software model is presented as a competitive advantage versus Cisco and Palo Alto Networks, potentially supporting network-security growth, recurring revenue and long-term margins. Fortinet versus Cisco and Palo Alto Networks
• Positive Sentiment: Analysts expect double-digit year-over-year earnings-per-share growth when Fortinet reports its next quarterly results, keeping near-term fundamentals in focus. What to Expect From Fortinet’s Next Quarterly Earnings Report
• Positive Sentiment: Technical analysts say the stock has regained important support after a bullish reversal, with its rising trend channel suggesting potential recovery toward its prior high near $197. Fortinet Price Forecast
• Neutral Sentiment: Fortinet recently outperformed the broader market and has generated a 211% return over three years, but that performance raises the question of whether future cash generation can justify the stock’s elevated valuation. Can Fortinet Keep Trading at a Premium
• Negative Sentiment: Arete Research issued a rare double downgrade, moving Fortinet from “buy” to “sell” and assigning a $117 price target—well below the recent share price. The firm warned that several favorable growth drivers may peak in 2026, increasing concerns about slowing momentum and downside risk. Fortinet Downgrade by Arete Research

Fortinet Company Profile

Fortinet, Inc develops cybersecurity products and services designed to protect networks, endpoints, applications, cloud environments and operational technology systems. The company's portfolio includes next-generation firewalls, secure networking products, endpoint security, web application security, email security, identity and access solutions, and security information and event management tools.

Its product offerings include FortiGate network security appliances and cloud-based firewalls, along with FortiSwitch, FortiAP and FortiExtender solutions for secure connectivity.

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