Expressive Wealth LLC Acquires Shares of 3,608 Fortinet, Inc. $FTNT

Expressive Wealth LLC bought a new position in Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,608 shares of the software maker’s stock, valued at approximately $554,000.

Several other institutional investors and hedge funds have also modified their holdings of FTNT. BlackRock Inc. purchased a new stake in shares of Fortinet during the second quarter worth $9,561,650,000. Norges Bank purchased a new position in Fortinet in the fourth quarter valued at about $1,152,917,000. Bank of New York Mellon Corp purchased a new position in Fortinet in the second quarter valued at about $1,432,842,000. Arrowstreet Capital Limited Partnership increased its position in Fortinet by 87.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock worth $788,682,000 after purchasing an additional 4,500,194 shares during the last quarter. Finally, Deutsche Bank AG acquired a new position in Fortinet in the 2nd quarter worth about $581,102,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FTNT shares. Bank of America restated a “buy” rating on shares of Fortinet in a report on Monday, July 27th. William Blair reaffirmed a “market perform” rating on shares of Fortinet in a research note on Tuesday, July 21st. Stephens set a $115.00 price objective on shares of Fortinet and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Robert W. Baird set a $165.00 target price on shares of Fortinet in a research report on Thursday, July 30th. Finally, Barclays set a $190.00 target price on Fortinet and gave the company an “equal weight” rating in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $150.91.

Fortinet Trading Up 1.8%

Shares of FTNT stock opened at $153.51 on Friday. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $172.09. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $156.24 and its two-hundred day moving average is $117.61. The company has a market cap of $112.63 billion, a PE ratio of 54.05, a price-to-earnings-growth ratio of 2.86 and a beta of 1.07.

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

Insider Buying and Selling at Fortinet

In related news, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their position. The sale 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction 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 transaction, the vice president directly owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their position. 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 sold a total of 329,142 shares of company stock worth $50,731,178 in the last quarter. 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.