CoreCap Advisors LLC Sells 3,300 Shares of Fortinet, Inc. $FTNT

CoreCap Advisors LLC lowered its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 14.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,970 shares of the software maker’s stock after selling 3,300 shares during the period. CoreCap Advisors LLC’s holdings in Fortinet were worth $3,068,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. Brighton Jones LLC grew its stake in shares of Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after buying an additional 221 shares during the last quarter. Bison Wealth LLC bought a new stake in Fortinet during the 4th quarter worth $585,000. HUB Investment Partners LLC increased its holdings in Fortinet by 29.1% in the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock worth $560,000 after purchasing an additional 1,193 shares in the last quarter. Diversify Advisory Services LLC acquired a new position in Fortinet in the 2nd quarter worth about $1,136,000. Finally, Quantinno Capital Management LP raised its position in Fortinet by 27.4% in the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock valued at $15,328,000 after purchasing an additional 31,202 shares during the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fortinet news, VP Michael Xie sold 3,907 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the sale, the vice president directly owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, 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. Insiders sold 475,157 shares of company stock valued at $69,480,964 over the last quarter. Insiders own 17.60% of the company’s stock.

Fortinet Stock Performance

NASDAQ:FTNT opened at $164.26 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $172.09. The company has a 50 day simple moving average of $152.50 and a two-hundred day simple moving average of $111.17. The company has a market capitalization of $120.52 billion, a PE ratio of 57.84, a P/E/G ratio of 3.19 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last issued its quarterly 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. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the company earned $0.64 EPS. The company’s revenue for the quarter 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. Research analysts anticipate that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Strong earnings and raised guidance support the growth story. Fortinet reported second-quarter revenue of approximately $2.05 billion, up 25.6% year over year, and adjusted earnings of $0.90 per share versus the $0.75 analyst consensus. Management raised full-year 2026 revenue guidance to $8.02 billion-$8.18 billion and forecast third-quarter revenue of $2.01 billion-$2.10 billion. Fortinet guidance and AI firewall article
• Positive Sentiment: AI-focused security products and rising cyber threats provide potential catalysts. Fortinet launched the FortiGate 1200G series with FortiSASE Outpost for high-performance, AI-focused and sovereignty-sensitive hybrid environments. Separately, reported AI-powered “vishing” attacks targeting major financial firms underscore the growing need for cybersecurity services. AI-powered vishing cyberattacks article
• Positive Sentiment: Quantitative screens remain favorable. Zacks added FTNT to its Rank #1 “Strong Buy” and momentum lists, while other coverage identified Fortinet as a growth-at-a-reasonable-price candidate because of its above-average financial growth. Zacks momentum stocks article
• Neutral Sentiment: Insider sales were limited and appear administrative. CEO Ken Xie sold 161,482 shares and VP Michael Xie sold 3,121 shares under pre-arranged Rule 10b5-1 plans to cover tax withholding on vested equity awards. The transactions reduced their holdings by only 0.30% and 0.03%, respectively.
• Negative Sentiment: Valuation and analyst caution may be encouraging investors to lock in gains. FTNT trades at a high earnings multiple after a substantial run, while its average analyst rating remains “Hold” with a consensus price target below recent trading levels. Deutsche Bank and Baird maintained Hold ratings, and Baird cited margin and balance-sheet risks with a $165 target.

Analyst Ratings Changes

Several research firms have recently weighed in on FTNT. Evercore set a $165.00 price target on Fortinet in a report on Thursday, July 30th. BMO Capital Markets raised their price objective on shares of Fortinet from $170.00 to $185.00 and gave the company a “market perform” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, May 7th. The Goldman Sachs Group restated a “buy” rating and issued a $190.00 price target on shares of Fortinet in a research report on Thursday, July 30th. Finally, Compass Point set a $100.00 price target on shares of Fortinet in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty-one have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $150.91.

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.