Manhattan West Asset Management LLC Invests $7.67 Million in Fortinet, Inc. $FTNT

Posted by Stanley Muller on Aug 22nd, 2026

Manhattan West Asset Management LLC acquired a new stake in Fortinet, Inc. (NASDAQ:FTNT – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 49,901 shares of the software maker’s stock, valued at approximately $7,666,000. Fortinet makes up about 1.3% of Manhattan West Asset Management LLC’s portfolio, making the stock its 18th largest position.

A number of other hedge funds have also made changes to their positions in the stock. Physician Wealth Advisors Inc. lifted its position in Fortinet by 408.3% in the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after purchasing an additional 245 shares during the period. Dunhill Financial LLC acquired a new position in shares of Fortinet during the 2nd quarter valued at $25,000. Wexford Capital LP bought a new stake in shares of Fortinet in the 3rd quarter worth $25,000. Elyxium Wealth LLC bought a new stake in shares of Fortinet in the 4th quarter worth $27,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Fortinet in the third quarter valued at $28,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FTNT shares. Wall Street Zen raised Fortinet from a “hold” rating to a “buy” rating in a report on Monday, August 3rd. Barclays set a $190.00 target price on Fortinet and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. William Blair reaffirmed a “market perform” rating on shares of Fortinet in a report on Tuesday, July 21st. Rosenblatt Securities increased their price target on Fortinet from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Wolfe Research set a $175.00 price target on Fortinet in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, Fortinet presently has an average rating of “Hold” and a consensus target price of $150.91.

Check Out Our Latest Research Report on Fortinet

Fortinet Trading Up 1.8%

Fortinet stock opened at $153.51 on Friday. The company has a 50 day moving average price of $156.24 and a 200 day moving average price of $117.61. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $172.09. 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 firm has a market capitalization of $112.63 billion, a price-to-earnings ratio of 54.05, a P/E/G ratio of 2.86 and a beta of 1.07.

Fortinet (NASDAQ:FTNT – Get Free Report) last announced 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. The company 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 was up 25.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 EPS. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Research analysts forecast that Fortinet, Inc. will post 3.05 EPS for the current year.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the transaction, the vice president owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at $8,616,486,029.52. This represents a 0.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 329,142 shares of company stock worth $50,731,178 in the last quarter. 17.60% of the stock is currently owned by corporate insiders.

Fortinet Profile

(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.