Beacon Investment Advisory Services Inc. Sells 10,085 Shares of Fortinet, Inc. $FTNT

Beacon Investment Advisory Services Inc. lowered its stake in Fortinet, Inc. (NASDAQ:FTNT) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 231,189 shares of the software maker’s stock after selling 10,085 shares during the period. Fortinet makes up approximately 1.3% of Beacon Investment Advisory Services Inc.’s holdings, making the stock its 23rd largest holding. Beacon Investment Advisory Services Inc.’s holdings in Fortinet were worth $35,515,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Elevation Wealth Partners LLC boosted its stake in shares of Fortinet by 53.6% during the second quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock valued at $33,000 after purchasing an additional 75 shares during the period. Wexford Capital LP bought a new stake in Fortinet during the 3rd quarter valued at $25,000. Physician Wealth Advisors Inc. raised its holdings in Fortinet by 408.3% during the 1st 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. Palisade Asset Management LLC purchased a new stake in Fortinet during the 3rd quarter valued at $28,000. Finally, Elyxium Wealth LLC bought a new stake in Fortinet in the 4th quarter worth $27,000. Institutional investors own 83.71% of the company’s stock.

Fortinet Stock Performance

Shares of FTNT stock opened at $159.64 on Friday. 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 company has a market capitalization of $117.13 billion, a price-to-earnings ratio of 56.21, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07. Fortinet, Inc. has a one year low of $72.83 and a one year high of $172.09. The company’s 50-day moving average is $153.54 and its 200 day moving average is $112.10.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The business’s 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. Sell-side analysts expect that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on FTNT. Bank of America restated a “buy” rating on shares of Fortinet in a report on Monday, July 27th. JPMorgan Chase & Co. boosted their price target on shares of Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, May 7th. Mizuho set a $125.00 price target on shares of Fortinet and gave the stock an “underperform” rating in a research note on Wednesday, July 15th. DZ Bank cut Fortinet from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Finally, William Blair reiterated a “market perform” rating on shares of Fortinet in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Fortinet has a consensus rating of “Hold” and a consensus target price of $150.91.

Insider Buying and Selling at Fortinet

In other news, VP Michael Xie sold 3,121 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the transaction, the vice president directly owned 9,918,360 shares of the company’s stock, valued at $1,613,022,886.80. This represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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, COO John Whittle sold 146,015 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following the sale, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 475,157 shares of company stock worth $69,480,964. Insiders own 17.60% of the company’s stock.

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.