HighTower Advisors LLC Increases Stock Position in Fortinet, Inc. $FTNT

HighTower Advisors LLC lifted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 18.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 318,956 shares of the software maker’s stock after buying an additional 48,789 shares during the period. HighTower Advisors LLC’s holdings in Fortinet were worth $26,818,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Florida Financial Advisors LLC raised its position in Fortinet by 29.8% in the third quarter. Florida Financial Advisors LLC now owns 12,787 shares of the software maker’s stock worth $1,075,000 after acquiring an additional 2,936 shares in the last quarter. Balboa Wealth Partners increased its holdings in Fortinet by 45.8% in the third quarter. Balboa Wealth Partners now owns 3,397 shares of the software maker’s stock valued at $286,000 after buying an additional 1,067 shares in the last quarter. Lafayette Investments Inc. purchased a new stake in shares of Fortinet during the 3rd quarter worth approximately $200,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Fortinet in the 3rd quarter worth approximately $144,000. Finally, Assetmark Inc. increased its stake in Fortinet by 1.9% in the 3rd quarter. Assetmark Inc. now owns 110,941 shares of the software maker’s stock valued at $9,328,000 after purchasing an additional 2,092 shares in the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 175,737 shares of Fortinet stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the transaction, the chief executive officer owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. The trade was a 0.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michael Xie sold 343,106 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the sale, the vice president directly owned 10,210,282 shares of the company’s stock, valued at approximately $831,321,160.44. This trade represents a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is owned by insiders.

Fortinet Stock Performance

NASDAQ:FTNT opened at $80.69 on Thursday. The company has a market cap of $60.01 billion, a P/E ratio of 33.21, a P/E/G ratio of 2.82 and a beta of 1.06. The firm’s 50 day moving average is $80.54 and its two-hundred day moving average is $81.70. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $114.63. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Analysts expect that Fortinet, Inc. will post 2.09 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the company. BMO Capital Markets boosted their target price on Fortinet from $90.00 to $95.00 and gave the stock a “market perform” rating in a research report on Monday, February 9th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $90.00 target price (up previously from $85.00) on shares of Fortinet in a report on Friday, February 6th. Wedbush reissued an “outperform” rating and issued a $90.00 price target on shares of Fortinet in a report on Friday, February 6th. Cantor Fitzgerald restated a “neutral” rating and issued a $87.00 price objective on shares of Fortinet in a research report on Monday, November 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Fortinet from $72.00 to $73.00 and gave the company an “underweight” rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-two have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Fortinet has an average rating of “Hold” and an average target price of $89.42.

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.