The Manufacturers Life Insurance Company Sells 26,867 Shares of Fortinet, Inc. $FTNT

The Manufacturers Life Insurance Company lowered its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 337,126 shares of the software maker’s stock after selling 26,867 shares during the period. The Manufacturers Life Insurance Company’s holdings in Fortinet were worth $27,545,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wexford Capital LP bought a new position in shares of Fortinet in the 3rd quarter worth $25,000. Physician Wealth Advisors Inc. boosted its position in 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 purchasing an additional 245 shares in the last quarter. Palisade Asset Management LLC bought a new stake in Fortinet during the third quarter valued at about $28,000. Elyxium Wealth LLC purchased a new position in Fortinet in the fourth quarter valued at about $27,000. Finally, Maseco LLP bought a new position in Fortinet in the first quarter worth about $29,000. Institutional investors own 83.71% of the company’s stock.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Strong Q2 results: Fortinet reported earnings of $0.90 per share versus the $0.75 consensus estimate, while revenue rose 25.6% year over year to $2.05 billion, above the $1.89 billion forecast. Product revenue reportedly increased 52%, and billings climbed 33% to $2.37 billion. Fortinet lifts annual revenue forecast on strong cybersecurity demand
• Positive Sentiment: Guidance raised: Management lifted its full-year 2026 revenue outlook, signaling confidence that enterprise spending on security will remain strong amid rising data-security incidents. Analysts also highlighted pricing strength and solid execution. Fortinet raises revenue outlook after strong Q2 and new AI product push
• Positive Sentiment: AI and platform momentum: Demand for Fortinet’s AI-security offerings, SASE Firewall, security platforms and operational-technology products is providing additional growth catalysts as companies expand AI infrastructure. FTNT Q2 earnings call highlights SASE Firewall growth
• Positive Sentiment: Analyst target increases: Rosenblatt raised its target to $195 and BTIG raised its target to $203, both with Buy ratings. Citigroup also increased its target to $185, reinforcing the favorable near-term reaction to the earnings report. Analysts boost forecasts following upbeat Q2 earnings
• Neutral Sentiment: Susquehanna raised its target to $160 but retained a Neutral rating, while William Blair maintained a Hold rating, citing questions about how durable Fortinet’s pricing and growth advantages will be.
• Negative Sentiment: Valuation remains a risk after the stock’s substantial multiyear gain. At roughly 57 times earnings, shares may already reflect considerable optimism, leaving less room for disappointment. Fortinet stock seems stretched following its five-year run

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $161.95 on Friday. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $170.35. The company has a market cap of $118.65 billion, a PE ratio of 57.02, a P/E/G ratio of 4.17 and a beta of 1.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.07 and a current ratio of 1.28. The business has a 50-day simple moving average of $150.50 and a two-hundred day simple moving average of $109.09.

Fortinet (NASDAQ:FTNT) last posted 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 firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $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 expect that Fortinet, Inc. will post 2.82 EPS for the current fiscal year.

Analyst Ratings Changes

FTNT has been the subject of several analyst reports. Wall Street Zen lowered shares of Fortinet from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Susquehanna boosted their price objective on shares of Fortinet from $115.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday. HC Wainwright reissued a “buy” rating on shares of Fortinet in a research report on Thursday. Bank of America restated a “buy” rating on shares of Fortinet in a research note on Monday. Finally, Compass Point set a $100.00 price target on shares of Fortinet in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-three have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $150.91.

Insider Buying and Selling at Fortinet

In other Fortinet news, COO John Whittle sold 146,015 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. The trade was a 0.30% 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. In the last quarter, insiders have sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is owned by corporate insiders.

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.