Insight Wealth Strategies LLC Grows Position in Fortinet, Inc. $FTNT

Insight Wealth Strategies LLC boosted its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 5.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,043 shares of the software maker’s stock after purchasing an additional 3,157 shares during the period. Insight Wealth Strategies LLC’s holdings in Fortinet were worth $9,228,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. grew its stake in shares of Fortinet by 408.3% during the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after buying an additional 245 shares during the last quarter. Wexford Capital LP purchased a new position in Fortinet during the 3rd quarter valued at $25,000. Elyxium Wealth LLC purchased a new position in Fortinet during the 4th quarter valued at $27,000. Palisade Asset Management LLC bought a new position in Fortinet in the 3rd quarter valued at $28,000. Finally, Ares Financial Consulting LLC bought a new position in Fortinet in the 4th quarter valued at $29,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Stock Down 1.4%

Shares of NASDAQ FTNT opened at $161.89 on Wednesday. Fortinet, Inc. has a 12-month low of $73.55 and a 12-month high of $172.09. The stock’s fifty day simple moving average is $154.14 and its two-hundred day simple moving average is $113.59. The stock has a market capitalization of $118.78 billion, a PE ratio of 57.00, a price-to-earnings-growth ratio of 3.11 and a beta of 1.07. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.75 by $0.15. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the company 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. As a group, analysts expect that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fortinet news, COO John Whittle sold 146,015 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the sale, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the sale, the vice president owned 9,923,610 shares in the company, valued at $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. Over the last ninety days, insiders sold 475,157 shares of company stock worth $69,480,964. 17.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FTNT. William Blair reissued a “market perform” rating on shares of Fortinet in a research note on Tuesday, July 21st. Rosenblatt Securities raised their price target on shares of Fortinet from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Evercore set a $165.00 price objective on shares of Fortinet in a report on Thursday, July 30th. Stifel Nicolaus set a $175.00 price objective on shares of Fortinet and gave the company a “hold” rating in a research report on Thursday, July 30th. Finally, Stephens set a $115.00 target price on shares of Fortinet and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company presently 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.