Fortinet (NASDAQ:FTNT) VP Michael Xie Sells 3,121 Shares

Key Points

• Fortinet VP Michael Xie sold 3,121 shares at an average price of $162.63, totaling approximately $507,568. The transaction was conducted under a pre-arranged Rule 10b5-1 plan to cover tax withholding, reducing his position by just 0.03%.
• Fortinet shares rose 3.1% to $168.29, near their 52-week high, after the company reported quarterly EPS of $0.90 and revenue of $2.05 billion, beating analyst estimates. Revenue increased 25.6% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of $150.91, below the recent share price. Institutional investors own approximately 83.71% of the stock.

Fortinet, Inc. (NASDAQ:FTNT - Get Free Report) VP Michael Xie sold 3,121 shares of the business'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 in the company, valued at $1,613,022,886.80. The trade was a 0.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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.

Michael Xie also recently made the following trade(s):

• On Wednesday, June 3rd, Michael Xie sold 3,907 shares of Fortinet stock. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08.

Fortinet Stock Up 3.1%

Shares of NASDAQ:FTNT traded up $5.08 during midday trading on Tuesday, reaching $168.29. The company had a trading volume of 6,430,680 shares, compared to its average volume of 6,441,908. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $170.35. The stock has a market cap of $123.48 billion, a PE ratio of 59.26, a P/E/G ratio of 3.93 and a beta of 1.07. 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 business's 50 day moving average price is $151.09 and its 200 day moving average price is $109.91.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The company's quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $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. Research analysts forecast that Fortinet, Inc. will post 2.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Fortinet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Expressive Wealth LLC bought a new position in Fortinet during the fourth quarter valued at $646,000. Trilogy Capital Inc. increased its position in Fortinet by 46.8% during the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker's stock valued at $3,506,000 after purchasing an additional 14,076 shares during the period. Leonteq Securities AG bought a new stake in Fortinet during the 4th quarter valued at $10,422,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Fortinet in the 4th quarter worth $14,638,000. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Fortinet by 156.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker's stock worth $31,009,000 after purchasing an additional 238,299 shares during the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FTNT shares. HSBC cut Fortinet from a "hold" rating to a "reduce" rating and set a $102.00 price target on the stock. in a research note on Monday, June 29th. Wall Street Zen upgraded Fortinet from a "hold" rating to a "buy" rating in a report on Monday. Robert W. Baird set a $165.00 price objective on Fortinet in a report on Thursday, July 30th. Evercore set a $165.00 target price on Fortinet in a report on Thursday, July 30th. Finally, Piper Sandler reissued a "neutral" rating and issued a $175.00 target price (up from $110.00) on shares of Fortinet in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $150.91.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet reported second-quarter revenue of approximately $2.05 billion and net income of $606.3 million, while raising its full-year 2026 revenue outlook to $8.02 billion–$8.18 billion. Third-quarter revenue guidance of $2.01 billion–$2.10 billion also points to continued growth. Fortinet Is Up 8.8% After Raising 2026 Revenue Guidance
• Positive Sentiment: The company launched the FortiGate 1200G series with FortiSASE Outpost, targeting high-performance, AI-focused and sovereignty-sensitive cybersecurity requirements across hybrid environments. The product expansion could support future demand and strengthen Fortinet’s competitive position. FortiGate 1200G and FortiSASE Outpost
• Positive Sentiment: Growth-oriented analysis remains favorable, citing Fortinet’s above-average financial growth and ranking it as a potentially market-beating growth stock. These reports add to investor optimism following the company’s results and guidance increase. Why Growth Investors Should Buy Fortinet Now
• Positive Sentiment: Wall Street Zen raised Fortinet’s rating to Buy, providing another favorable signal for sentiment. Fortinet Rating Increased to Buy
• Neutral Sentiment: Coverage comparing Fortinet with the broader computer and technology sector highlights its year-to-date performance, while separate analysis is examining international revenue trends and their effect on forecasts. Neither report identifies a new fundamental catalyst. Fortinet Sector Performance Comparison
• Negative Sentiment: Robert W. Baird reaffirmed a Hold rating and $165 price target, citing margin and balance-sheet risks. The target is below Fortinet’s recent trading range, potentially signaling limited near-term upside after the strong rally. Fortinet Hold Rating and Price Target

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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