Wealthfront Advisers LLC Has $7.20 Million Stake in Fortinet, Inc. $FTNT

Wealthfront Advisers LLC increased its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 19.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,576 shares of the software maker’s stock after acquiring an additional 14,049 shares during the quarter. Wealthfront Advisers LLC’s holdings in Fortinet were worth $7,195,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FTNT. Johnson Investment Counsel Inc. grew its position in shares of Fortinet by 12.5% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 19,986 shares of the software maker’s stock worth $1,680,000 after buying an additional 2,218 shares during the period. Prospera Financial Services Inc boosted its position in shares of Fortinet by 82.6% in the 3rd quarter. Prospera Financial Services Inc now owns 11,719 shares of the software maker’s stock worth $985,000 after purchasing an additional 5,300 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Fortinet by 64.8% during the third quarter. ProShare Advisors LLC now owns 1,974,442 shares of the software maker’s stock worth $166,011,000 after purchasing an additional 776,705 shares during the period. Linden Thomas Advisory Services LLC boosted its position in shares of Fortinet by 2.5% during the third quarter. Linden Thomas Advisory Services LLC now owns 56,738 shares of the software maker’s stock worth $4,771,000 after purchasing an additional 1,360 shares in the last quarter. Finally, Wilson Asset Management International PTY Ltd. bought a new position in Fortinet in the third quarter valued at approximately $7,988,000. 83.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 343,106 shares of the firm’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 transaction, the vice president directly owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. This trade represents a 3.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ken Xie sold 175,737 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 $14,308,506.54. Following the completion of the sale, the chief executive officer owned 51,396,385 shares of the company’s stock, valued at approximately $4,184,693,666.70. The trade was a 0.34% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 17.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on FTNT shares. UBS Group reissued a “neutral” rating and set a $90.00 target price on shares of Fortinet in a research note on Friday, February 6th. Robert W. Baird set a $90.00 price target on shares of Fortinet in a research note on Friday, February 6th. HSBC cut shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $90.00 price target (up previously from $85.00) on shares of Fortinet in a research note on Friday, February 6th. Finally, Scotiabank downgraded shares of Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 price target on the stock. in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-two have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Fortinet has a consensus rating of “Hold” and a consensus price target of $89.07.

Fortinet Trading Up 2.7%

NASDAQ FTNT opened at $87.82 on Thursday. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $114.82. The business has a 50 day moving average price of $80.60 and a 200-day moving average price of $82.34. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. The company has a market cap of $65.31 billion, a price-to-earnings ratio of 36.14, a P/E/G ratio of 2.95 and a beta of 1.06.

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

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.