Fortinet (NASDAQ:FTNT) VP Michael Xie Sells 3,121 Shares

Posted by Stanley Muller on Aug 4th, 2026

Fortinet, Inc. (NASDAQ:FTNT – Get Free Report) VP Michael Xie sold 3,121 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.63, for a total value of $507,568.23. Following the sale, the vice president owned 9,918,360 shares of the company’s stock, valued at approximately $1,613,022,886.80. This represents a 0.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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.

Michael Xie also recently made the following trade(s):

On Wednesday, June 3rd, Michael Xie sold 3,907 shares of Fortinet stock. The stock was sold at an average price of $146.44, for a total value of $572,141.08.

Fortinet Stock Performance

Shares of NASDAQ:FTNT traded up $5.08 on Tuesday, hitting $168.29. 6,430,680 shares of the company were exchanged, compared to its average volume of 6,441,908. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $170.35. The stock’s 50 day moving average price is $151.09 and its 200 day moving average price is $109.91. 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 firm has a market capitalization of $123.48 billion, a P/E ratio of 59.26, a price-to-earnings-growth ratio of 3.93 and a beta of 1.07.

Fortinet (NASDAQ:FTNT – Get Free Report) last released its earnings results 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. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the firm earned $0.64 EPS. The firm’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 predict that Fortinet, Inc. will post 2.82 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on FTNT. Stifel Nicolaus set a $175.00 price target on shares of Fortinet and gave the company a “hold” rating in a research report on Thursday, July 30th. Wall Street Zen upgraded Fortinet from a “hold” rating to a “buy” rating in a research report on Monday. Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 price target (up from $110.00) on shares of Fortinet in a report on Thursday, July 30th. Evercore set a $165.00 price objective on Fortinet in a report on Thursday, July 30th. Finally, BTIG Research boosted their price objective on Fortinet from $186.00 to $203.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $150.91.

Check Out Our Latest Report on Fortinet

Institutional Trading of Fortinet

Several large investors have recently bought and sold shares of FTNT. Physician Wealth Advisors Inc. grew its stake in shares of Fortinet by 408.3% in 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 period. Wexford Capital LP purchased a new stake in Fortinet in the third quarter valued at $25,000. Elyxium Wealth LLC purchased a new position in Fortinet during the fourth quarter worth about $27,000. Palisade Asset Management LLC acquired a new stake in shares of Fortinet during the third quarter valued at about $28,000. Finally, Ares Financial Consulting LLC acquired a new stake in shares of Fortinet during the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

Positive Sentiment: Fortinet reported second-quarter revenue of approximately $2.05 billion and net income of $606.3 million, while raising its full-year 2026 revenue outlook to $8.02 billion–$8.18 billion. Third-quarter revenue guidance of $2.01 billion–$2.10 billion also points to continued growth. Fortinet Is Up 8.8% After Raising 2026 Revenue Guidance
Positive Sentiment: The company launched the FortiGate 1200G series with FortiSASE Outpost, targeting high-performance, AI-focused and sovereignty-sensitive cybersecurity requirements across hybrid environments. The product expansion could support future demand and strengthen Fortinet’s competitive position. FortiGate 1200G and FortiSASE Outpost
Positive Sentiment: Growth-oriented analysis remains favorable, citing Fortinet’s above-average financial growth and ranking it as a potentially market-beating growth stock. These reports add to investor optimism following the company’s results and guidance increase. Why Growth Investors Should Buy Fortinet Now
Positive Sentiment: Wall Street Zen raised Fortinet’s rating to Buy, providing another favorable signal for sentiment. Fortinet Rating Increased to Buy
Neutral Sentiment: Coverage comparing Fortinet with the broader computer and technology sector highlights its year-to-date performance, while separate analysis is examining international revenue trends and their effect on forecasts. Neither report identifies a new fundamental catalyst. Fortinet Sector Performance Comparison
Negative Sentiment: Robert W. Baird reaffirmed a Hold rating and $165 price target, citing margin and balance-sheet risks. The target is below Fortinet’s recent trading range, potentially signaling limited near-term upside after the strong rally. Fortinet Hold Rating and Price Target

Fortinet Company Profile

(Get Free Report)

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.