16,870 Fortinet, Inc. $FTNT Shares Purchased by CoreCap Advisors LLC

CoreCap Advisors LLC lifted its position in shares of Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 84.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 36,840 shares of the software maker’s stock after buying an additional 16,870 shares during the quarter. CoreCap Advisors LLC’s holdings in Fortinet were worth $6,586,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Fortinet during the second quarter valued at $9,561,650,000. Bank of New York Mellon Corp bought a new stake in shares of Fortinet in the second quarter worth $1,432,842,000. Legal & General Group Plc acquired a new stake in Fortinet in the second quarter valued at $979,062,000. Arrowstreet Capital Limited Partnership increased its holdings in Fortinet by 87.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock valued at $788,682,000 after purchasing an additional 4,500,194 shares during the period. Finally, Bank of America Corp DE bought a new position in Fortinet during the 2nd quarter worth $656,852,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Trading Down 0.1%

NASDAQ FTNT traded down $0.18 during trading hours on Thursday, hitting $189.10. 4,455,900 shares of the company’s stock were exchanged, compared to its average volume of 5,902,078. The firm has a market cap of $138.74 billion, a price-to-earnings ratio of 66.58, a PEG ratio of 3.57 and a beta of 1.03. The stock has a 50-day simple moving average of $165.91 and a 200 day simple moving average of $138.07. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. Fortinet, Inc. has a 1-year low of $73.55 and a 1-year high of $192.41.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. 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. On average, equities analysts forecast that Fortinet, Inc. will post 3.1 EPS for the current fiscal year.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

  • Positive Sentiment: Motley Fool highlighted Fortinet as an AI cybersecurity stock to buy and hold, citing the company’s role in protecting physical AI infrastructure and a valuation viewed as more reasonable than some cybersecurity peers. 1 Millionaire-Maker AI Cybersecurity Stock to Buy and Hold
  • Positive Sentiment: Zacks featured FTNT as a strong momentum stock and a potential earnings-beat candidate, reflecting favorable price performance and improving analyst expectations. Here’s Why Fortinet Is a Strong Momentum Stock
  • Positive Sentiment: Rockwell Automation expanded its SecureOT managed-services offerings to support Fortinet firewalls, potentially strengthening Fortinet’s position in industrial and operational-technology cybersecurity. Rockwell Automation Expands SecureOT Managed Services
  • Positive Sentiment: Scotiabank raised its FY2027 EPS forecast for Fortinet to $3.42 from $2.95, above the broader consensus estimate of $3.10, signaling confidence in future earnings growth. Scotiabank Has Strong Forecast for Fortinet FY2027 Earnings
  • Neutral Sentiment: FTNT and CrowdStrike are both trading near record highs; comparisons emphasize Fortinet’s valuation and earnings-estimate trends but do not provide a new company-specific catalyst. CrowdStrike vs. Fortinet
  • Negative Sentiment: After a multiyear rally, investors are questioning whether Fortinet’s future cash flow can justify its elevated valuation. Scotiabank’s $163 price target is also below the recent trading level, creating downside risk if growth or cash generation slows. Can Fortinet Stay Fully Priced on Future Cash Flow?

Insider Buying and Selling at Fortinet

In other news, COO John Whittle sold 2,835 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $168.74, for a total transaction of $478,377.90. Following the transaction, the chief operating officer owned 96,987 shares in the company, valued at approximately $16,365,586.38. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their position. 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. Corporate insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FTNT. Robert W. Baird set a $165.00 price target on Fortinet in a research note on Thursday, July 30th. DZ Bank cut Fortinet from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Sanford C. Bernstein restated a “market perform” rating and set a $145.00 price target (up from $102.00) on shares of Fortinet in a report on Thursday, September 17th. BMO Capital Markets boosted their price target on shares of Fortinet from $170.00 to $185.00 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 price objective (up from $110.00) on shares of Fortinet in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $152.79.

View Our Latest Analysis on Fortinet

About Fortinet

(Free Report)

Fortinet, Inc develops and provides cybersecurity products and services for businesses, governments, and service providers. The company’s portfolio is designed to protect networks, endpoints, applications, cloud environments, and operational technology from cyber threats.

Its offerings include FortiGate next-generation firewalls, FortiSwitch secure networking switches, FortiAP wireless access points, FortiClient endpoint security, and FortiSASE secure access service edge solutions. Fortinet also provides centralized management and analytics through products such as FortiManager and FortiAnalyzer, along with security operations, threat intelligence, and other subscription-based services through its FortiGuard portfolio.

Founded in 2000, Fortinet serves customers globally through direct sales, channel partners, and managed security service providers.

Further Reading

Want to see what other hedge funds are holding FTNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortinet, Inc. (NASDAQ:FTNT – Free Report).

Institutional Ownership by Quarter for Fortinet (NASDAQ:FTNT)

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