Fortinet, Inc. $FTNT Shares Acquired by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC raised its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 17.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,719 shares of the software maker’s stock after buying an additional 3,873 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Fortinet were worth $4,598,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FTNT. Willis Investment Counsel increased its holdings in Fortinet by 7.9% during the 3rd quarter. Willis Investment Counsel now owns 249,169 shares of the software maker’s stock worth $44,541,000 after acquiring an additional 18,300 shares during the period. Net Worth Advisory Group grew its position in shares of Fortinet by 3.1% during the 3rd quarter. Net Worth Advisory Group now owns 8,166 shares of the software maker’s stock valued at $1,460,000 after purchasing an additional 242 shares in the last quarter. Eagle Wealth Advisors LLC increased its holdings in shares of Fortinet by 4.9% in the third quarter. Eagle Wealth Advisors LLC now owns 2,174 shares of the software maker’s stock worth $389,000 after purchasing an additional 101 shares during the period. Midway Capital Research & Management bought a new position in shares of Fortinet in the third quarter worth $434,000. Finally, Family Wealth Partners LLC bought a new position in shares of Fortinet in the third quarter worth $302,000. 83.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FTNT. Wells Fargo & Company lifted their price objective on Fortinet from $135.00 to $160.00 and gave the company an “underweight” rating in a research note on Thursday, October 15th. Evercore set a $165.00 target price on Fortinet in a research report on Thursday, July 30th. HSBC upped their target price on Fortinet from $102.00 to $107.00 in a research note on Friday, July 31st. Rosenblatt Securities raised their price target on Fortinet from $185.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Citigroup raised their price target on Fortinet from $165.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $161.39.

Fortinet Stock Performance

Fortinet stock opened at $170.93 on Wednesday. Fortinet, Inc. has a fifty-two week low of $73.55 and a fifty-two week high of $197.13. 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 stock has a market cap of $125.41 billion, a P/E ratio of 60.19, a price-to-earnings-growth ratio of 3.20 and a beta of 1.03. The firm’s fifty day moving average price is $169.65 and its 200-day moving average price is $144.56.

Fortinet (NASDAQ:FTNT) last announced its 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. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The firm’s quarterly revenue 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. On average, equities research analysts expect that Fortinet, Inc. will post 3.10 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortinet

In other Fortinet news, VP Michael Xie sold 3,121 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the sale, the vice president owned 9,918,360 shares in the company, valued at $1,613,022,886.80. This trade represents a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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, COO John Whittle sold 2,835 shares of Fortinet stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $168.74, for a total value of $478,377.90. Following the sale, the chief operating officer directly owned 96,987 shares of the company’s stock, valued at approximately $16,365,586.38. This trade represents a 2.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 221,303 shares of company stock worth $36,164,034 over the last 90 days. Corporate insiders own 17.60% of the company’s stock.

Fortinet Company Profile

Fortinet, Inc develops cybersecurity products and services designed to protect networks, endpoints, applications, cloud environments and operational technology systems. The company’s portfolio includes next-generation firewalls, secure networking products, endpoint security, web application security, email security, identity and access solutions, and security information and event management tools.

Its product offerings include FortiGate network security appliances and cloud-based firewalls, along with FortiSwitch, FortiAP and FortiExtender solutions for secure connectivity.