Western Wealth Management LLC Purchases Shares of 5,449 Fortinet, Inc. $FTNT

Western Wealth Management LLC purchased a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,449 shares of the software maker’s stock, valued at approximately $837,000.

A number of other large investors also recently modified their holdings of the business. Brighton Jones LLC increased its position in shares of Fortinet by 2.2% in the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after acquiring an additional 221 shares during the last quarter. Bison Wealth LLC acquired a new position in Fortinet during the fourth quarter valued at approximately $585,000. HUB Investment Partners LLC boosted its position in Fortinet by 29.1% during the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after purchasing an additional 1,193 shares during the last quarter. Diversify Advisory Services LLC bought a new position in Fortinet in the second quarter valued at approximately $1,136,000. Finally, Quantinno Capital Management LP grew its stake 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 purchasing an additional 31,202 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fortinet

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the company’s stock in a transaction 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 transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This represents a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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, VP Michael Xie sold 3,121 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the transaction, the vice president owned 9,918,360 shares in the company, valued at $1,613,022,886.80. This trade represents a 0.03% 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. Insiders sold a total of 329,142 shares of company stock valued at $50,731,178 over the last 90 days. 17.60% of the stock is currently owned by corporate insiders.

Fortinet Stock Performance

NASDAQ FTNT opened at $153.66 on Wednesday. The stock has a market cap of $112.74 billion, a PE ratio of 54.11, a P/E/G ratio of 2.88 and a beta of 1.07. 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 firm has a 50-day moving average of $156.42 and a 200-day moving average of $118.89. Fortinet, Inc. has a 52-week low of $73.55 and a 52-week high of $172.09.

Fortinet (NASDAQ:FTNT) last announced 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. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. Fortinet’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 EPS. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, sell-side analysts anticipate that Fortinet, Inc. will post 3.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FTNT. Robert W. Baird set a $165.00 price objective on Fortinet in a research note on Thursday, July 30th. Barclays set a $190.00 target price on shares of Fortinet and gave the stock an “equal weight” rating in a report on Thursday, July 30th. UBS Group reaffirmed a “neutral” rating and set a $180.00 price target on shares of Fortinet in a research report on Thursday, July 30th. HC Wainwright reiterated a “buy” rating on shares of Fortinet in a research note on Thursday, July 30th. Finally, Compass Point set a $100.00 price objective on shares of Fortinet in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $150.91.

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.