Western Wealth Management LLC Invests $530,000 in Fortinet, Inc. $FTNT

Key Points

• Western Wealth Management acquired 6,487 Fortinet shares worth approximately $530,000 in the first quarter. Institutional investors and hedge funds own 83.71% of FTNT.
• Analyst sentiment remains mixed: UBS and RBC maintained neutral ratings, while Morgan Stanley and TD Cowen raised their price targets. MarketBeat data shows a consensus “Hold” rating and an average target price of $150.91.
• Fortinet reported quarterly earnings of $0.90 per share, beating estimates of $0.75, while revenue rose 25.6% year over year to $2.05 billion. Meanwhile, insiders sold 310,554 shares worth about $42.7 million during the last quarter.

Western Wealth Management LLC acquired a new position in Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,487 shares of the software maker's stock, valued at approximately $530,000.

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

Analyst Ratings Changes

FTNT has been the subject of several research analyst reports. UBS Group reaffirmed a "neutral" rating and issued a $180.00 price objective on shares of Fortinet in a report on Thursday. Wall Street Zen raised shares of Fortinet from a "hold" rating to a "buy" rating in a research note on Monday. Royal Bank Of Canada set a $185.00 price target on shares of Fortinet and gave the stock a "sector perform" rating in a research report on Thursday. Morgan Stanley reaffirmed a "positive" rating and issued a $136.00 price target (up from $133.00) on shares of Fortinet in a research note on Thursday. Finally, TD Cowen reiterated a "buy" rating and issued a $215.00 price objective (up from $160.00) on shares of Fortinet in a report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty-one have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $150.91.

Insider Activity

In related news, COO John Whittle sold 146,015 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following the sale, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. The trade was a 60.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ken Xie sold 160,632 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 52,972,372 shares of the company's stock, valued at approximately $7,711,717,915.76. This 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. In the last quarter, insiders sold 310,554 shares of company stock worth $42,706,734. Corporate insiders own 17.60% of the company's stock.

Fortinet Trading Up 0.8%

Shares of Fortinet stock opened at $163.21 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The firm has a market cap of $119.75 billion, a price-to-earnings ratio of 57.47, a price-to-earnings-growth ratio of 3.93 and a beta of 1.07. The business has a fifty day simple moving average of $151.09 and a 200-day simple moving average of $109.91. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $170.35.

Fortinet (NASDAQ:FTNT - Get Free Report) last announced its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating 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 business had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter last year, the business posted $0.64 earnings per share. The company's quarterly revenue was up 25.6% on a year-over-year basis. 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 forecast that Fortinet, Inc. will post 2.82 EPS for the current fiscal year.

Fortinet Company 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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