Fortinet, Inc. $FTNT Shares Bought by Diversify Wealth Management LLC

Diversify Wealth Management LLC grew its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 90.0% in the first quarter, Holdings Channel reports. The institutional investor owned 117,101 shares of the software maker’s stock after purchasing an additional 55,475 shares during the period. Diversify Wealth Management LLC’s holdings in Fortinet were worth $10,084,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FTNT. Wexford Capital LP purchased a new position in Fortinet in the third quarter valued at approximately $25,000. Physician Wealth Advisors Inc. lifted its position in shares of Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after buying an additional 245 shares during the last quarter. Palisade Asset Management LLC acquired a new position in shares of Fortinet in the 3rd quarter valued at $28,000. Elyxium Wealth LLC purchased a new position in shares of Fortinet in the 4th quarter valued at $27,000. Finally, Maseco LLP acquired a new stake in Fortinet during the 1st quarter worth $29,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Fortinet Price Performance

Shares of Fortinet stock traded down $6.22 during trading on Friday, reaching $157.51. The company’s stock had a trading volume of 3,518,279 shares, compared to its average volume of 5,833,056. The business has a 50 day moving average price of $137.74 and a 200-day moving average price of $100.94. The company has a market capitalization of $115.40 billion, a P/E ratio of 60.81, a price-to-earnings-growth ratio of 4.28 and a beta of 1.09. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $165.28.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.62 by $0.20. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, sell-side analysts anticipate that Fortinet, Inc. will post 2.8 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on FTNT shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price objective on shares of Fortinet in a report on Thursday, May 7th. Rosenblatt Securities boosted their price objective on Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. BMO Capital Markets lifted their target price on shares of Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Zacks Research cut shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $107.00 target price (up from $90.00) on shares of Fortinet in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $108.74.

Insider Buying and Selling at Fortinet

In related news, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction that occurred on 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 transaction, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their position. The sale 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. Also, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total value of $23,384,806.56. Following the completion of the sale, the chief executive officer owned 52,972,372 shares in the company, valued at $7,711,717,915.76. This represents a 0.30% 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. Insiders have sold 318,387 shares of company stock valued at $43,403,063 over the last quarter. Corporate insiders own 17.60% of the company’s stock.

About Fortinet

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.