RB Capital Management LLC Invests $2.66 Million in Fortinet, Inc. $FTNT

RB Capital Management LLC acquired a new position in shares of Fortinet, Inc. (NASDAQ:FTNT) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 17,295 shares of the software maker’s stock, valued at approximately $2,657,000.

Other institutional investors also recently added to or reduced their stakes in the company. Burk Holdings LLC bought a new position in Fortinet in the second quarter worth about $25,000. Dunhill Financial LLC bought a new stake in shares of Fortinet in the 2nd quarter valued at about $25,000. Elevation Wealth Partners LLC boosted its holdings in shares of Fortinet by 53.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock valued at $33,000 after buying an additional 75 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of Fortinet in the 2nd quarter worth approximately $35,000. Finally, Kilter Group LLC bought a new position in shares of Fortinet during the 2nd quarter worth approximately $41,000. Institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling at Fortinet

In other Fortinet news, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction dated Wednesday, June 3rd. The stock was 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 of the company’s stock, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction dated 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 sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $8,616,486,029.52. This represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last three months, insiders sold 329,142 shares of company stock worth $50,731,178. 17.60% of the stock is owned by insiders.

Fortinet Stock Down 3.9%

NASDAQ:FTNT opened at $166.00 on Friday. The company has a market cap of $121.80 billion, a PE ratio of 58.45, a P/E/G ratio of 3.28 and a beta of 1.07. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $173.89. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $157.68 and its two-hundred day moving average is $120.40.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the company posted $0.64 earnings per share. The business’s quarterly revenue was up 25.6% on a year-over-year basis. 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 anticipate that Fortinet, Inc. will post 3.05 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on FTNT shares. Weiss Ratings downgraded shares of Fortinet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, August 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $160.00 price target on shares of Fortinet in a research report on Thursday, July 30th. TD Cowen reiterated a “buy” rating and set a $215.00 price objective (up from $160.00) on shares of Fortinet in a report on Monday, July 13th. The Goldman Sachs Group restated a “buy” rating and set a $190.00 target price on shares of Fortinet in a research note on Thursday, July 30th. Finally, Zacks Research raised Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twenty have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, Fortinet currently has a consensus rating of “Hold” and a consensus price target of $150.91.

More Fortinet News

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.

Fortinet Company 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.