Kingsview Wealth Management LLC Purchases Shares of 9,389 Fortinet, Inc. $FTNT

Kingsview Wealth Management LLC acquired a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 9,389 shares of the software maker’s stock, valued at approximately $1,442,000.

Several other large investors also recently made changes to their positions in the business. Physician Wealth Advisors Inc. boosted its position in Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after purchasing an additional 245 shares during the period. Dunhill Financial LLC acquired a new stake in Fortinet in the 2nd quarter valued at $25,000. Burk Holdings LLC purchased a new position in Fortinet in the second quarter valued at about $25,000. Wexford Capital LP purchased a new position in Fortinet in the third quarter valued at about $25,000. Finally, Elyxium Wealth LLC acquired a new position in shares of Fortinet during the fourth quarter worth about $27,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet Federal, a wholly owned subsidiary, earned CMMC Level 2 certification after validating 110 NIST SP 800-171 controls. The certification could improve Fortinet’s credibility with U.S. government agencies and defense contractors seeking compliant cybersecurity providers. Fortinet Federal’s New CMMC Level 2 Certification
• Positive Sentiment: Analysts continue to point to platform adoption, artificial-intelligence security products, product expansion and CMMC-related demand as potential growth drivers across enterprise and government markets. Fortinet Stock Surges on Security Platform Momentum
• Positive Sentiment: A new multi-year sponsorship agreement with Stanford Athletics supports Fortinet’s brand visibility, although the financial impact is likely modest compared with its core business. Stanford Athletics and Fortinet Sponsorship
• Neutral Sentiment: Fortinet recently moved above its 20-day moving average, signaling short-term technical momentum. However, technical support can also encourage profit-taking after a large advance. Fortinet Crosses Above Its 20-Day Moving Average
• Negative Sentiment: Valuation is a key overhang. With the stock near its annual high and trading at roughly 58 times earnings, investors may be demanding continued strong execution, leaving limited room for disappointment. Fortinet Valuation Leaves Limited Margin of Safety
• Negative Sentiment: Insider-trading data shows executives made no open-market purchases and reported multiple sales over the past six months. In addition, the reported median analyst price target of $115 is below recent trading levels, reinforcing concerns that expectations may have become excessive.

Insiders Place Their Bets

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the transaction, 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 position. 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. 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 firm’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 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 a total of 329,142 shares of company stock worth $50,731,178 over the last quarter. 17.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FTNT shares. Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 target price (up from $110.00) on shares of Fortinet in a research report on Thursday, July 30th. Citigroup raised their target price on Fortinet from $165.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Wells Fargo & Company set a $135.00 price target on Fortinet and gave the stock an “underweight” rating in a research report on Thursday, July 30th. HC Wainwright restated a “buy” rating on shares of Fortinet in a report on Thursday, July 30th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $180.00 price objective on shares of Fortinet in a research report on Thursday, July 30th. Two 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $150.91.

Fortinet Stock Performance

Shares of FTNT opened at $166.00 on Friday. The business’s 50 day moving average is $157.68 and its two-hundred day moving average is $120.40. Fortinet, Inc. has a 52-week low of $73.55 and a 52-week high of $173.89. The firm has a market cap of $121.80 billion, a price-to-earnings ratio of 58.45, a PEG ratio of 3.15 and a beta of 1.07. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating the consensus estimate of $0.75 by $0.15. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The business’s revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the business posted $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. Analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

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.