Sigma Planning Corp boosted its holdings in Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 85.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 14,689 shares of the software maker’s stock after purchasing an additional 6,762 shares during the period. Sigma Planning Corp’s holdings in Fortinet were worth $2,616,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently modified their holdings of FTNT. Burk Holdings LLC bought a new stake in shares of Fortinet in the second quarter valued at approximately $25,000. Dunhill Financial LLC acquired a new stake in shares of Fortinet in the second quarter worth $25,000. Cornerstone Financial Management LLC increased its position in Fortinet by 102.5% during the second quarter. Cornerstone Financial Management LLC now owns 164 shares of the software maker’s stock worth $25,000 after acquiring an additional 83 shares during the period. NFSG Corp bought a new position in Fortinet during the third quarter worth $34,000. Finally, Timbuktu Capital Management LLC bought a new position in Fortinet during the second quarter worth $31,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.
Fortinet Trading Up 0.9%
FTNT opened at $185.00 on Wednesday. Fortinet, Inc. has a fifty-two week low of $73.55 and a fifty-two week high of $197.13. The firm’s fifty day moving average price is $171.59 and its two-hundred day moving average price is $127.21.
Fortinet (NASDAQ:FTNT – Get Free Report) last announced its quarterly 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 business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the firm earned $0.64 EPS. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Fortinet, Inc. will post 3.10 EPS for the current fiscal year.
Key Headlines Impacting Fortinet
Here are the key news stories impacting Fortinet this week:
- Positive Sentiment: Fortinet launched the FortiGuard Inline AI Security Service, a cloud-delivered add-on for FortiGate customers that provides AI-specific threat inspection, data-protection controls and guardrails. The service could create additional recurring revenue from Fortinet’s large installed base and strengthen its position in the growing AI-cybersecurity market. Fortinet Expands AI Security with the FortiGuard Inline AI Security Service
- Positive Sentiment: The company also introduced FortiLink SASE Service to secure small branches and distributed facilities without requiring an on-site firewall. The offering expands Fortinet’s unified SASE strategy and may support demand for cloud-delivered security and centralized management. Fortinet Expands Unified SASE to Simplify Microbranch Security
- Positive Sentiment: Atos expanded its long-running partnership with Fortinet into a global engagement covering managed cybersecurity, consulting and hybrid- and multicloud integration. The broader relationship could improve enterprise distribution and service adoption, particularly for Fortinet’s AI-security portfolio. What Fortinet’s Atos Partnership Expansion Means for Shareholders
- Positive Sentiment: Third-quarter earnings estimate revisions are trending upward, with investors citing strong SASE firewall demand, AI-security expansion and share repurchases ahead of the report. Fortinet’s latest quarter also showed revenue growth and earnings above consensus, supporting the bullish momentum narrative. Fortinet Q3 2026 Earnings Preview
Analyst Ratings Changes
Several equities analysts recently commented on FTNT shares. TD Cowen reiterated a “buy” rating and set a $225.00 target price (up from $215.00) on shares of Fortinet in a research note on Tuesday, October 13th. Jefferies Financial Group raised their price target on shares of Fortinet from $165.00 to $190.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Stephens boosted their price objective on shares of Fortinet from $160.00 to $165.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Truist Financial set a $200.00 price objective on shares of Fortinet and gave the company a “buy” rating in a research report on Tuesday, October 20th. Finally, BMO Capital Markets increased their target price on shares of Fortinet from $170.00 to $185.00 and gave the company a “market perform” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and an average price target of $162.36.
View Our Latest Stock Report on Fortinet
Insider Transactions at Fortinet
In other news, VP Michael Xie sold 3,121 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the transaction, the vice president directly owned 9,918,360 shares of the company’s stock, valued at approximately $1,613,022,886.80. This trade represents a 0.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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. Also, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction dated 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 sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This trade represents 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 221,303 shares of company stock valued at $36,164,034. Company insiders own 17.60% of the company’s stock.
Fortinet Company Profile
Fortinet, Inc develops cybersecurity products and services designed to protect networks, endpoints, applications, cloud environments and operational technology systems. The company’s portfolio includes next-generation firewalls, secure networking products, endpoint security, web application security, email security, identity and access solutions, and security information and event management tools.
Its product offerings include FortiGate network security appliances and cloud-based firewalls, along with FortiSwitch, FortiAP and FortiExtender solutions for secure connectivity.
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