3,423 Fortinet, Inc. $FTNT Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,842 shares of the software maker’s stock after selling 3,423 shares during the period. Nisa Investment Advisors LLC’s holdings in Fortinet were worth $21,065,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Puff Wealth Management LLC increased its holdings in shares of Fortinet by 3.4% during the 3rd quarter. Puff Wealth Management LLC now owns 1,660 shares of the software maker’s stock valued at $297,000 after acquiring an additional 54 shares during the last quarter. Columbus Macro LLC raised its stake in shares of Fortinet by 1.9% in the 3rd quarter. Columbus Macro LLC now owns 2,981 shares of the software maker’s stock valued at $533,000 after acquiring an additional 55 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC raised its stake in shares of Fortinet by 1.9% in the 3rd quarter. Hutchens & Kramer Investment Management Group LLC now owns 3,525 shares of the software maker’s stock valued at $630,000 after acquiring an additional 66 shares in the last quarter. Kintegral Advisory LLC raised its stake in shares of Fortinet by 0.6% in the 3rd quarter. Kintegral Advisory LLC now owns 12,648 shares of the software maker’s stock valued at $2,261,000 after acquiring an additional 71 shares in the last quarter. Finally, Dynamic Wealth Strategies LLC lifted its holdings in Fortinet by 4.8% in the 3rd quarter. Dynamic Wealth Strategies LLC now owns 1,539 shares of the software maker’s stock worth $275,000 after purchasing an additional 71 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FTNT. Scotiabank reaffirmed a “sector perform” rating and set a $163.00 target price (up from $110.00) on shares of Fortinet in a research report on Thursday, July 30th. Bank of America reissued a “buy” rating on shares of Fortinet in a research report on Monday, July 27th. Susquehanna lifted their price target on shares of Fortinet from $115.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. HC Wainwright restated a “buy” rating on shares of Fortinet in a research note on Thursday, July 30th. Finally, Roth Capital upped their price objective on shares of Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have given a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $161.75.

Insiders Place Their Bets

In other news, COO John Whittle sold 53,865 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $165.44, for a total transaction of $8,911,425.60. Following the completion of the transaction, the chief operating officer directly owned 96,987 shares in the company, valued at $16,045,529.28. The trade was a 35.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,121 shares of the 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 directly owned 9,918,360 shares of the company’s stock, valued at $1,613,022,886.80. This represents a 0.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 have sold a total of 221,303 shares of company stock valued at $36,164,034 in the last three months. Company insiders own 17.60% of the company’s stock.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: SASE growth supports the bullish case: Fortinet’s Unified SASE strategy is gaining traction, with improving billings and revenue reportedly exceeding expectations. The platform is also being positioned to secure AI applications and autonomous agents, potentially expanding the company’s addressable market. Can Fortinet’s SASE Momentum Propel the Stock to New Highs?
• Positive Sentiment: Technical recovery remains constructive: Fortinet regained key support after a bullish reversal, while its rising trend channel and weekly chart indicate potential upside toward the prior high near $197, according to a technical analysis. Fortinet Price Forecast: Support Holds as Recovery Gains Momentum
• Positive Sentiment: Managed-services partnership could broaden demand: CBTS launched a fully managed Fortinet secure-networking service for mid-market and multi-site organizations. The offering may help Fortinet reach customers seeking stronger security without adding internal networking staff. CBTS and Fortinet Launch Fully Managed Secure Networking Service
• Neutral Sentiment: Analyst support remains mixed: UBS maintained a $200 price target, implying further potential upside, but investors face heightened expectations ahead of Fortinet’s scheduled October 28 results. The stock’s elevated valuation makes the earnings report and forward guidance important catalysts. UBS Keeps Target for Fortinet Stock at $200
• Negative Sentiment: Arete issued a rare double downgrade: The firm cut Fortinet from “buy” to “sell” and set a $117 price target, arguing that favorable growth drivers may peak in 2026. The target represents substantial downside from the current share price and briefly pressured the stock in premarket trading. Fortinet Stock Falls as Arete Delivers Rare Double Downgrade to Sell

Fortinet Trading Up 1.8%

Shares of NASDAQ:FTNT opened at $174.05 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. The stock’s 50-day moving average is $169.92 and its 200-day moving average is $145.20. The company has a market cap of $127.70 billion, a P/E ratio of 61.29, a P/E/G ratio of 3.19 and a beta of 1.03. Fortinet, Inc. has a 52-week low of $73.55 and a 52-week high of $197.13.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping 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 in the previous year, the firm earned $0.64 EPS. The firm’s 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. Equities research analysts predict that Fortinet, Inc. will post 3.10 earnings per share for the current year.

About Fortinet

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.