Proficio Capital Partners LLC Takes Position in Fortinet, Inc. $FTNT

Key Points

• Proficio Capital Partners initiated a Fortinet position by purchasing 7,990 shares valued at approximately $1.23 million. Institutional investors and hedge funds own 83.71% of Fortinet’s outstanding stock.
• Fortinet exceeded quarterly expectations, reporting $0.90 in adjusted EPS versus the $0.75 consensus and $2.05 billion in revenue, up 25.6% year over year. The company issued fiscal 2026 EPS guidance of $3.41–$3.47.
• FTNT shares recently traded near $161.85, despite a 5.3% decline, while analysts maintain a consensus “Hold” rating with an average price target of $150.91. CEO Ken Xie and VP Michael Xie sold shares under pre-arranged plans to cover tax obligations.

Proficio Capital Partners LLC bought a new position in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 7,990 shares of the software maker's stock, valued at approximately $1,227,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC raised its stake in shares of Fortinet by 53.6% in the second quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker's stock valued at $33,000 after acquiring an additional 75 shares during the last quarter. Sigma Planning Corp grew its position in Fortinet by 1.0% during the 2nd quarter. Sigma Planning Corp now owns 7,927 shares of the software maker's stock worth $1,218,000 after acquiring an additional 80 shares during the last quarter. Florida Financial Advisors LLC grew its position in Fortinet by 3.0% during the 1st quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker's stock worth $309,000 after acquiring an additional 109 shares during the last quarter. Optimist Retirement Group LLC grew its position in Fortinet by 2.5% during the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker's stock worth $398,000 after acquiring an additional 122 shares during the last quarter. Finally, GW&K Investment Management LLC increased its holdings in Fortinet by 31.4% during the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker's stock valued at $41,000 after purchasing an additional 123 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Trading Down 5.3%

NASDAQ:FTNT opened at $161.85 on Wednesday. Fortinet, Inc. has a 1-year low of $73.55 and a 1-year high of $173.89. The business's 50-day moving average price is $158.47 and its two-hundred day moving average price is $121.77. 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 firm has a market capitalization of $118.75 billion, a price-to-earnings ratio of 56.99, a PEG ratio of 3.24 and a beta of 1.06.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.15. The firm had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The company's revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 earnings per share. 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 expect that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Insider Activity at Fortinet

In other Fortinet news, VP Michael Xie sold 3,121 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.63, for a total value of $507,568.23. Following the completion of the sale, the vice president owned 9,918,360 shares of the company's stock, valued at approximately $1,613,022,886.80. This represents a 0.03% decrease in their ownership of the stock. The sale 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 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 sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 17.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FTNT. Robert W. Baird set a $165.00 price objective on Fortinet in a research report on Thursday, July 30th. Piper Sandler restated a "neutral" rating and issued a $175.00 target price (up from $110.00) on shares of Fortinet in a research note on Thursday, July 30th. DZ Bank cut Fortinet from a "hold" rating to a "strong sell" rating in a report on Thursday, July 30th. Weiss Ratings downgraded shares of Fortinet from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, August 20th. Finally, Truist Financial set a $183.00 price objective on shares of Fortinet and gave the stock a "buy" rating in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $150.91.

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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