Fortinet, Inc. $FTNT Shares Sold by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC lessened its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 69.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,423 shares of the software maker’s stock after selling 5,591 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Fortinet were worth $372,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Elevation Wealth Partners LLC boosted its position in shares of Fortinet by 53.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after purchasing an additional 75 shares during the period. Florida Financial Advisors LLC raised its position in Fortinet by 3.0% in the first quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock valued at $309,000 after purchasing an additional 109 shares during the period. Optimist Retirement Group LLC raised its position in Fortinet by 2.5% in the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock valued at $398,000 after purchasing an additional 122 shares during the period. PDS Planning Inc lifted its stake in Fortinet by 3.1% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock worth $326,000 after purchasing an additional 123 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its stake in Fortinet by 31.4% during the fourth quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock worth $41,000 after purchasing an additional 123 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FTNT. Scotiabank restated a “sector perform” rating and set a $163.00 price target on shares of Fortinet in a research report on Thursday, July 30th. UBS Group reiterated a “neutral” rating and issued a $180.00 price objective on shares of Fortinet in a report on Thursday, July 30th. HC Wainwright reissued a “buy” rating on shares of Fortinet in a research note on Thursday, July 30th. TD Cowen restated a “buy” rating and set a $215.00 target price (up from $160.00) on shares of Fortinet in a report on Monday, July 13th. Finally, Wells Fargo & Company set a $135.00 target price on Fortinet and gave the company an “underweight” rating in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, Fortinet presently has a consensus rating of “Hold” and a consensus target price of $150.91.

Insiders Place Their Bets

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

Fortinet Stock Performance

NASDAQ:FTNT opened at $160.01 on Monday. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $172.09. The company has a fifty day simple moving average of $155.05 and a two-hundred day simple moving average of $115.31. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The company has a market cap of $117.40 billion, a price-to-earnings ratio of 56.34, a price-to-earnings-growth ratio of 3.03 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.15. The business had revenue of $2.05 billion for 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 company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share. 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, equities analysts anticipate that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

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.