Diversify Wealth Management LLC Increases Stock Position in Fortinet, Inc. $FTNT

Diversify Wealth Management LLC lifted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 40.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,626 shares of the software maker’s stock after acquiring an additional 17,824 shares during the period. Diversify Wealth Management LLC’s holdings in Fortinet were worth $4,827,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Fortinet by 4.0% during the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after acquiring an additional 2,894,355 shares during the last quarter. State Street Corp grew its position in shares of Fortinet by 1.6% during the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after acquiring an additional 477,397 shares during the last quarter. Invesco Ltd. grew its position in shares of Fortinet by 17.0% during the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after acquiring an additional 1,568,337 shares during the last quarter. First Trust Advisors LP grew its position in shares of Fortinet by 30.9% during the third quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock worth $636,962,000 after acquiring an additional 1,790,033 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Fortinet by 2.9% during the third quarter. Nordea Investment Management AB now owns 6,922,031 shares of the software maker’s stock worth $586,781,000 after acquiring an additional 195,896 shares during the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on FTNT. Robert W. Baird set a $115.00 price objective on shares of Fortinet in a research report on Thursday. Jefferies Financial Group set a $90.00 price objective on shares of Fortinet in a research report on Friday, February 6th. BTIG Research upgraded shares of Fortinet from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 price objective on shares of Fortinet in a research report on Thursday. Finally, Compass Point set a $100.00 price objective on shares of Fortinet in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-three have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $99.04.

Fortinet Price Performance

Fortinet stock opened at $107.97 on Friday. Fortinet, Inc. has a one year low of $70.12 and a one year high of $112.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17. The business has a fifty day moving average of $82.97 and a two-hundred day moving average of $81.98. The company has a market cap of $79.04 billion, a P/E ratio of 41.69, a price-to-earnings-growth ratio of 3.08 and a beta of 0.92.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a return on equity of 149.52% and a net margin of 27.49%.The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the company earned $0.58 earnings per share. Fortinet’s quarterly revenue was up 20.1% compared to the same quarter last year. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, analysts predict that Fortinet, Inc. will post 2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Michael Xie sold 2,478 shares of Fortinet stock in a transaction on Monday, May 4th. The stock was sold at an average price of $88.89, for a total transaction of $220,269.42. Following the completion of the transaction, the vice president owned 9,927,517 shares of the company’s stock, valued at $882,456,986.13. The trade was a 0.02% decrease in their position. The transaction 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, CEO Ken Xie sold 5,355 shares of Fortinet stock in a transaction on Monday, May 4th. The stock was sold at an average price of $88.90, for a total value of $476,059.50. Following the transaction, the chief executive officer directly owned 52,978,004 shares of the company’s stock, valued at $4,709,744,555.60. This trade represents a 0.01% 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. 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 company insiders.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet reported a blowout Q1: revenue +20% YoY to $1.85B, billings +31%, product revenue +41%, strong margins and record cash flow; management raised Q2 and FY?2026 guidance, which underpins the rally. Fortinet Reports Strong First Quarter 2026 Financial Results
• Positive Sentiment: Fortinet expanded its FortiGate G series (3500G/400G) targeting AI/data?center security — a product push that supports the company’s positioning in AI-driven security demand. Fortinet Expands FortiGate G Series
• Positive Sentiment: Multiple sell?side firms raised price targets and in some cases upgraded the stock (notable: Rosenblatt and BTIG raised targets to $125 with buy calls), reinforcing the upside narrative after the results. Analyst Notes & Price Target Moves
• Neutral Sentiment: UBS increased its price target to $115 but kept a “neutral” rating — the higher target supports valuation but UBS did not move to a buy stance. UBS Price Target Raise
• Neutral Sentiment: Insider sale disclosed: VP Michael Xie sold shares under a 10b5?1 plan to cover taxes on vested awards — routine but may draw attention from some traders. Insider Sale Disclosure
• Negative Sentiment: Some banks raised targets while keeping conservative stances: JPMorgan lifted its target to $75 but kept an “underweight” call (large downside vs. current levels), and Mizuho moved its PT to $86 with an “underperform” rating — these notes could cap upside if optimism fades. JPMorgan / Mizuho Research Notes
• Negative Sentiment: Background analyst mix and some institutional trimming remain (several holds and sell ratings still on tape); if future quarters slow or AI tailwinds disappoint, valuation could be pressured. Institutional & Analyst Coverage Context

Fortinet 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.