NewEdge Wealth LLC Sells 7,907 Shares of Fortinet, Inc. $FTNT

NewEdge Wealth LLC cut its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 1.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 402,789 shares of the software maker’s stock after selling 7,907 shares during the quarter. NewEdge Wealth LLC’s holdings in Fortinet were worth $32,916,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Fortinet in the fourth quarter valued at approximately $1,152,917,000. First Trust Advisors LP increased its position in Fortinet by 45.5% during the 1st quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock valued at $940,284,000 after purchasing an additional 3,598,487 shares during the period. Van ECK Associates Corp raised its holdings in Fortinet by 38.9% during the 4th quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock worth $613,915,000 after purchasing an additional 2,166,396 shares during the last quarter. AQR Capital Management LLC raised its holdings in Fortinet by 76.2% during the 4th quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock worth $326,297,000 after purchasing an additional 1,777,115 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after purchasing an additional 1,568,337 shares during the period. Institutional investors own 83.71% of the company’s stock.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet was highlighted as one of the better-positioned cybersecurity names to benefit from rising enterprise AI adoption, with demand expected to grow for AI security, identity protection, and Zero Trust solutions. Article Title
• Positive Sentiment: Another note described Fortinet as a GARP candidate, suggesting investors can still find upside in the stock because of its solid growth prospects relative to valuation. Article Title
• Positive Sentiment: Analyst sentiment improved, with Robert W. Baird raising its price target and another report saying a Fortinet analyst is “no longer bearish,” reinforcing confidence in the company’s fundamentals. Article Title
• Positive Sentiment: Fortinet also announced a collaboration with Intel to develop its next-generation Security Processor 6, a sign of continued product innovation and supply-chain diversification. Article Title
• Neutral Sentiment: Broker commentary also warned that cybersecurity valuations remain elevated ahead of earnings, which could limit near-term upside for FTNT despite the company’s strong positioning. Article Title
• Negative Sentiment: Recent market action showed Fortinet trading lower as broader markets moved higher, suggesting some profit-taking or valuation pressure remains in the stock. Article Title

Fortinet Stock Down 1.9%

Shares of NASDAQ:FTNT opened at $155.05 on Thursday. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $170.35. The company has a market capitalization of $113.60 billion, a PE ratio of 59.87, a price-to-earnings-growth ratio of 4.30 and a beta of 1.09. The business has a fifty day moving average price of $146.83 and a two-hundred day moving average price of $105.61. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FTNT shares. JPMorgan Chase & Co. boosted their target price on shares of Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, May 7th. Piper Sandler boosted their price objective on Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Bank of America raised their target price on Fortinet from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Cantor Fitzgerald restated a “neutral” rating and set a $87.00 price target on shares of Fortinet in a report on Tuesday, April 21st. Finally, Truist Financial set a $183.00 target price on shares of Fortinet and gave the company a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-four have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $121.10.

Insider Buying and Selling at Fortinet

In related news, COO John Whittle sold 146,015 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their ownership of the stock. 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 318,387 shares of company stock valued at $43,403,063 in the last 90 days. 17.60% of the stock is currently owned by company insiders.

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.