Western Wealth Management LLC Buys Shares of 6,487 Fortinet, Inc. $FTNT

Key Points

• Western Wealth Management opened a new Fortinet position by purchasing 6,487 shares valued at approximately $530,000. Institutional investors and hedge funds collectively own 83.71% of the company.
• Fortinet reported quarterly EPS of $0.90, beating estimates of $0.75, while revenue rose 25.6% year over year to $2.05 billion. Analysts expect full-year EPS of approximately $3.05.
• Wall Street maintains a consensus “Hold” rating with an average price target of $150.91; Fortinet shares opened at $160.01, near their 52-week high of $172.09.

Western Wealth Management LLC purchased a new position in Fortinet, Inc. (NASDAQ:FTNT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,487 shares of the software maker's stock, valued at approximately $530,000.

A number of other large investors have also made changes to their positions in the business. Physician Wealth Advisors Inc. boosted its position in shares of Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker's stock worth $25,000 after purchasing an additional 245 shares in the last quarter. Wexford Capital LP acquired a new position in Fortinet during the 3rd quarter valued at about $25,000. Elyxium Wealth LLC acquired a new position in Fortinet during the 4th quarter valued at about $27,000. Palisade Asset Management LLC purchased a new stake in Fortinet in the third quarter valued at about $28,000. Finally, Ares Financial Consulting LLC purchased a new stake in Fortinet in the fourth quarter valued at about $29,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FTNT shares. Stephens set a $115.00 price target on Fortinet and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. Compass Point set a $100.00 price objective on shares of Fortinet in a report on Monday, May 4th. Zacks Research raised shares of Fortinet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. TD Cowen reiterated a "buy" rating and issued a $215.00 target price (up from $160.00) on shares of Fortinet in a research note on Monday, July 13th. Finally, Royal Bank Of Canada set a $185.00 target price on shares of Fortinet and gave the stock a "sector perform" rating in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, Fortinet has a consensus rating of "Hold" and an average target price of $150.91.

Fortinet Stock Down 3.3%

Fortinet stock opened at $160.01 on Friday. The business's 50-day simple moving average is $155.05 and its two-hundred day simple moving average is $115.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. The company has a market cap of $117.40 billion, a PE ratio of 56.34, a PEG ratio of 3.14 and a beta of 1.07. Fortinet, Inc. has a fifty-two week low of $73.55 and a fifty-two week high of $172.09.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.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 business posted $0.64 earnings per share. The company's revenue for the quarter 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. Equities analysts anticipate that Fortinet, Inc. will post 3.05 EPS for the current year.

Insider Buying and Selling at Fortinet

In other news, CEO Ken Xie sold 161,482 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the sale, the chief executive officer owned 52,972,372 shares in the company, valued at $8,616,486,029.52. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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, VP Michael Xie sold 3,121 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the transaction, the vice president directly owned 9,918,360 shares of the company's stock, valued at approximately $1,613,022,886.80. This trade represents a 0.03% 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. In the last ninety days, insiders sold 475,157 shares of company stock worth $69,480,964. Company insiders own 17.60% of the company's stock.

Fortinet Profile

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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