Hohimer Wealth Management LLC Buys New Position in Fortinet, Inc. $FTNT

Hohimer Wealth Management LLC purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,187 shares of the software maker’s stock, valued at approximately $3,072,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Burk Holdings LLC acquired a new stake in Fortinet during the second quarter worth approximately $25,000. Dunhill Financial LLC bought a new position in Fortinet during the 2nd quarter worth $25,000. Cornerstone Financial Management LLC increased its stake in Fortinet by 102.5% during the 2nd quarter. Cornerstone Financial Management LLC now owns 164 shares of the software maker’s stock worth $25,000 after acquiring an additional 83 shares during the period. NFSG Corp acquired a new position in Fortinet in the 3rd quarter valued at $34,000. Finally, Timbuktu Capital Management LLC acquired a new position in Fortinet in the 2nd quarter valued at $31,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Price Performance

Shares of FTNT opened at $118.84 on Monday. Fortinet, Inc. has a 12-month low of $73.55 and a 12-month high of $197.13. The business has a 50-day simple moving average of $168.06 and a two-hundred day simple moving average of $129.50. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.22. The stock has a market cap of $87.31 billion, a PE ratio of 38.58, a PEG ratio of 2.28 and a beta of 1.04.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Wednesday, October 28th. The software maker reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. Fortinet had a return on equity of 152.72% and a net margin of 28.96%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the company earned $0.74 earnings per share. The business’s quarterly revenue was up 20.5% on a year-over-year basis. Analysts anticipate that Fortinet, Inc. will post 3.21 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Ken Xie sold 161,483 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $129.31, for a total value of $20,881,366.73. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at $6,849,857,423.32. This trade represents a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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, VP Michael Xie sold 3,121 shares of Fortinet stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $129.49, for a total transaction of $404,138.29. Following the sale, the vice president owned 9,918,360 shares in the company, valued at approximately $1,284,328,436.40. This represents a 0.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 221,304 shares of company stock valued at $30,675,309 over the last quarter. 17.60% of the stock is owned by company insiders.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Scotiabank raised its FY2026 and FY2027 earnings-per-share estimates to $3.21 and $3.50, respectively, while keeping its “Sector Perform” rating and $140 price target. The higher forecasts offer a modest positive signal, though the FY2026 estimate matches consensus. Scotiabank estimate update
• Positive Sentiment: Fortinet introduced FortiGuard Inline AI Security, which adds inspection and controls for enterprise generative-AI use, and FortiLink SASE, a cloud-delivered security service for distributed sites. The launches broaden its product portfolio and target evolving security needs. Fortinet unveiled two new security services
• Positive Sentiment: FortiAIGate is now available on Equinix’s Distributed AI Hub, giving customers a validated architecture to secure and govern AI across distributed environments. The partnership could support demand for Fortinet’s AI-security products. Fortinet and Equinix secure distributed AI at scale
• Negative Sentiment: A recent analysis highlighted a cut to the services outlook and questioned whether Fortinet’s valuation is supported by its future cash generation. The concern may keep investors focused on the pace of service-business growth. Fortinet stock valuation and service outlook analysis
• Negative Sentiment: ETFs were net sellers of Fortinet shares on Nov. 3, with $15.7 million in net sales, a possible near-term source of selling pressure. ETF trading activity
• Negative Sentiment: Insider Ken Xie reportedly sold 161,483 shares. Such sales can weigh on sentiment, although the report does not establish the reason for the transaction. Insider share sale report

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FTNT. JPMorgan Chase & Co. upped their target price on Fortinet from $118.00 to $140.00 and gave the company an “underweight” rating in a research report on Friday, October 23rd. Wells Fargo & Company reduced their target price on Fortinet from $160.00 to $115.00 and set an “underweight” rating on the stock in a report on Friday, October 30th. Needham & Company LLC restated a “hold” rating on shares of Fortinet in a research report on Thursday, October 29th. Weiss Ratings downgraded Fortinet from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, November 3rd. Finally, Roth Capital boosted their price target on Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Eleven investment analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $150.44.

Fortinet Company Profile

Fortinet, Inc is a cybersecurity and networking company that provides products and services to help organizations protect their networks, devices, applications, and cloud environments. Its offerings include FortiGate next-generation firewalls, the FortiOS operating system, and security, endpoint, cloud, and secure access service edge (SASE) solutions.

The company’s Security Fabric platform is designed to integrate security and networking products and support centralized visibility and management.