Fortinet, Inc. $FTNT Stock: Oppenheimer & Co. Inc. Increases Position

Oppenheimer & Co. Inc. lifted its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 13.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,599 shares of the software maker’s stock after purchasing an additional 6,311 shares during the period. Oppenheimer & Co. Inc.’s holdings in Fortinet were worth $9,403,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FTNT. Burk Holdings LLC purchased a new stake in Fortinet in the 2nd quarter valued at about $25,000. Dunhill Financial LLC purchased a new position in shares of Fortinet in the 2nd quarter worth approximately $25,000. Cornerstone Financial Management LLC grew its holdings in shares of Fortinet by 102.5% in the second quarter. Cornerstone Financial Management LLC now owns 164 shares of the software maker’s stock valued at $25,000 after acquiring an additional 83 shares in the last quarter. NFSG Corp bought a new position in shares of Fortinet in the third quarter valued at approximately $34,000. Finally, Timbuktu Capital Management LLC purchased a new stake in shares of Fortinet during the second quarter valued at approximately $31,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet launched the FortiGuard Inline AI Security Service, a cloud-delivered add-on for FortiGate customers that provides AI-specific threat inspection, data-protection controls and guardrails. The service could create additional recurring revenue from Fortinet’s large installed base and strengthen its position in the growing AI-cybersecurity market. Fortinet Expands AI Security with the FortiGuard Inline AI Security Service
• Positive Sentiment: The company also introduced FortiLink SASE Service to secure small branches and distributed facilities without requiring an on-site firewall. The offering expands Fortinet’s unified SASE strategy and may support demand for cloud-delivered security and centralized management. Fortinet Expands Unified SASE to Simplify Microbranch Security
• Positive Sentiment: Atos expanded its long-running partnership with Fortinet into a global engagement covering managed cybersecurity, consulting and hybrid- and multicloud integration. The broader relationship could improve enterprise distribution and service adoption, particularly for Fortinet’s AI-security portfolio. What Fortinet’s Atos Partnership Expansion Means for Shareholders
• Positive Sentiment: Third-quarter earnings estimate revisions are trending upward, with investors citing strong SASE firewall demand, AI-security expansion and share repurchases ahead of the report. Fortinet’s latest quarter also showed revenue growth and earnings above consensus, supporting the bullish momentum narrative. Fortinet Q3 2026 Earnings Preview

Insider Buying and Selling at Fortinet

In other Fortinet news, VP Michael Xie sold 3,121 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was 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 of the company’s stock, valued at $1,613,022,886.80. This trade represents a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 161,482 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This represents a 0.30% decrease in their ownership of the stock. 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 ninety days, insiders sold 221,303 shares of company stock valued at $36,164,034. Company insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Truist Financial set a $200.00 price target on Fortinet and gave the stock a “buy” rating in a report on Tuesday, October 20th. Wolfe Research set a $175.00 price objective on Fortinet in a research report on Thursday, July 30th. Rosenblatt Securities upped their price objective on Fortinet from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $160.00 target price (up from $100.00) on shares of Fortinet in a research report on Thursday, July 30th. Finally, Wall Street Zen upgraded Fortinet from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty-one have issued a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $162.36.

Fortinet Price Performance

Fortinet stock opened at $185.00 on Wednesday. The firm has a 50 day moving average price of $171.59 and a 200-day moving average price of $127.21. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $197.13.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the firm posted $0.64 EPS. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, research analysts predict that Fortinet, Inc. will post 3.10 EPS for the current fiscal year.

About Fortinet

Fortinet, Inc develops cybersecurity products and services designed to protect networks, endpoints, applications, cloud environments and operational technology systems. The company’s portfolio includes next-generation firewalls, secure networking products, endpoint security, web application security, email security, identity and access solutions, and security information and event management tools.

Its product offerings include FortiGate network security appliances and cloud-based firewalls, along with FortiSwitch, FortiAP and FortiExtender solutions for secure connectivity.