NewEdge Wealth LLC Increases Stake in Fortinet, Inc. $FTNT

NewEdge Wealth LLC lifted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 410,696 shares of the software maker’s stock after purchasing an additional 10,531 shares during the period. NewEdge Wealth LLC’s holdings in Fortinet were worth $32,613,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after purchasing an additional 221 shares during the last quarter. Bison Wealth LLC acquired a new stake in shares of Fortinet in the 4th quarter valued at $585,000. HUB Investment Partners LLC lifted its position in shares of Fortinet by 29.1% during the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock worth $560,000 after purchasing an additional 1,193 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in shares of Fortinet during the second quarter worth $1,136,000. Finally, Quantinno Capital Management LP increased its holdings in Fortinet by 27.4% in the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock valued at $15,328,000 after buying an additional 31,202 shares during the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Fortinet Stock Performance

Shares of FTNT stock opened at $114.07 on Friday. The stock’s 50-day moving average is $82.97 and its two-hundred day moving average is $81.98. The firm has a market cap of $83.51 billion, a price-to-earnings ratio of 44.04, a PEG ratio of 3.90 and a beta of 0.92. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $114.66. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.09 and a current ratio of 1.15.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.20. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.58 EPS. 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 predict that Fortinet, Inc. will post 2.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FTNT. JPMorgan Chase & Co. raised their price target on Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $107.00 price objective (up from $90.00) on shares of Fortinet in a research report on Thursday. Freedom Capital downgraded Fortinet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Oppenheimer restated a “market perform” rating on shares of Fortinet in a research note on Friday, January 23rd. Finally, Rosenblatt Securities upped their price target on Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $100.45.

Insider Buying and Selling

In other Fortinet news, VP Michael Xie sold 2,478 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $88.89, for a total value of $220,269.42. Following the completion of the sale, the vice president owned 9,927,517 shares in the company, valued at approximately $882,456,986.13. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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, CEO Ken Xie sold 5,355 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.90, for a total value of $476,059.50. Following the completion of the sale, the chief executive officer directly owned 52,978,004 shares of the company’s stock, valued at $4,709,744,555.60. The trade was a 0.01% 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. 17.20% of the stock is currently owned by insiders.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet delivered a strong Q1 beat, with revenue up 20% year over year, EPS ahead of estimates, billings up sharply, and full-year guidance raised, signaling stronger demand across cybersecurity and AI-related security products.
• Positive Sentiment: Several analysts turned more constructive, including BTIG’s upgrade to Buy, Rosenblatt’s Buy rating with a higher target, and Citi/Susquehanna/UBS/Piper all raising price targets to around the current share price or above, supporting bullish sentiment.
• Positive Sentiment: Commentary around Fortinet’s gains suggests the results helped dispel “AI disruption” fears and highlighted growing demand tied to a more complex threat environment, which is improving investor confidence in the company’s growth runway.
• Neutral Sentiment: Citigroup and Susquehanna raised their price target to $115 while maintaining Neutral ratings, implying limited upside from current levels even after the rally.
• Neutral Sentiment: RBC Capital and Needham kept Hold-type views, indicating that not all analysts see the valuation as compelling despite the improved fundamentals.
• Negative Sentiment: There were also insider sales by the CEO and a VP, which may temper enthusiasm somewhat, though these trades appear small relative to the stock’s recent move.

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.