Western Wealth Management LLC Purchases New Position in Fortinet, Inc. $FTNT

Western Wealth Management LLC purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,487 shares of the software maker’s stock, valued at approximately $530,000.

Several other hedge funds have also bought and sold shares of the stock. Wexford Capital LP purchased a new position in shares of Fortinet during the 3rd quarter valued at approximately $25,000. Physician Wealth Advisors Inc. lifted its stake in shares of Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after purchasing an additional 245 shares during the period. Palisade Asset Management LLC purchased a new stake in Fortinet during the third quarter worth $28,000. Elyxium Wealth LLC purchased a new stake in Fortinet during the fourth quarter worth $27,000. Finally, Maseco LLP acquired a new stake in Fortinet during the first quarter valued at $29,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Stock Performance

NASDAQ:FTNT opened at $160.01 on Friday. 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 company has a fifty day moving average of $155.05 and a two-hundred day moving average of $115.09. The stock has a market capitalization of $117.40 billion, a PE ratio of 56.34, a P/E/G ratio of 3.14 and a beta of 1.07. Fortinet, Inc. has a fifty-two week low of $73.55 and a fifty-two week high of $172.09.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the business earned $0.64 earnings per share. The company’s revenue for the quarter 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. As a group, research analysts forecast that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

FTNT has been the subject of a number of recent analyst reports. Compass Point set a $100.00 price objective on shares of Fortinet in a report on Monday, May 4th. Wells Fargo & Company set a $135.00 target price on shares of Fortinet and gave the stock an “underweight” rating in a research note on Thursday, July 30th. UBS Group restated a “neutral” rating and set a $180.00 target price on shares of Fortinet in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $160.00 price target on shares of Fortinet in a research note on Thursday, July 30th. Finally, DZ Bank cut Fortinet from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eighteen have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $150.91.

Insider Activity at Fortinet

In other news, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the transaction, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at $8,616,486,029.52. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 475,157 shares of company stock valued at $69,480,964. 17.60% of the stock is owned by corporate insiders.

Fortinet Company 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.