Proficio Capital Partners LLC Invests $1.23 Million in Fortinet, Inc. $FTNT

Posted by Brian Himes on Aug 27th, 2026

Proficio Capital Partners LLC acquired a new stake in Fortinet, Inc. (NASDAQ:FTNT – Free Report) in the second quarter, HoldingsChannel reports. The firm acquired 7,990 shares of the software maker’s stock, valued at approximately $1,227,000.

Several other hedge funds have also added to or reduced their stakes in the business. Expressive Wealth LLC bought a new stake in shares of Fortinet in the fourth quarter worth $646,000. Leonteq Securities AG acquired a new position in Fortinet during the 4th quarter worth about $10,422,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Fortinet in the fourth quarter valued at about $14,638,000. Thrivent Financial for Lutherans raised its position in shares of Fortinet by 156.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock worth $31,009,000 after acquiring an additional 238,299 shares during the last quarter. Finally, Westerkirk Capital Inc. lifted its stake in shares of Fortinet by 41.9% in the fourth quarter. Westerkirk Capital Inc. now owns 52,500 shares of the software maker’s stock worth $4,169,000 after acquiring an additional 15,500 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the completion of the sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. The trade was a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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. Also, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $1,453,213,448.40. The trade was a 0.04% 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. Insiders have sold 329,142 shares of company stock worth $50,731,178 over the last ninety days. 17.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $190.00 target price on shares of Fortinet in a report on Thursday, July 30th. BTIG Research lifted their target price on shares of Fortinet from $186.00 to $203.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Mizuho set a $125.00 target price on shares of Fortinet and gave the company an “underperform” rating in a report on Wednesday, July 15th. Evercore set a $165.00 price target on shares of Fortinet in a research report on Thursday, July 30th. Finally, BMO Capital Markets lifted their price objective on Fortinet from $170.00 to $185.00 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortinet has an average rating of “Hold” and a consensus target price of $150.91.

Check Out Our Latest Report on FTNT

Fortinet Price Performance

FTNT stock opened at $157.54 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. The company’s 50-day moving average is $156.69 and its 200-day moving average is $119.45. The stock has a market capitalization of $115.59 billion, a PE ratio of 55.47, a price-to-earnings-growth ratio of 2.91 and a beta of 1.07. Fortinet, Inc. has a 1 year low of $73.55 and a 1 year high of $172.09.

Fortinet (NASDAQ:FTNT – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the prior 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. Equities research analysts expect that Fortinet, Inc. will post 3.05 EPS for the current fiscal year.

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.