Segall Bryant & Hamill LLC Acquires Shares of 11,206 Fortinet, Inc. $FTNT

Posted by Geri Gentry on Aug 6th, 2026

Segall Bryant & Hamill LLC bought a new position in Fortinet, Inc. (NASDAQ:FTNT – Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,206 shares of the software maker’s stock, valued at approximately $935,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after acquiring an additional 221 shares in the last quarter. Bison Wealth LLC bought a new stake in shares of Fortinet during the 4th quarter valued at $585,000. HUB Investment Partners LLC raised its stake in shares of Fortinet by 29.1% during the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after purchasing an additional 1,193 shares during the period. Diversify Advisory Services LLC purchased a new stake in Fortinet during the 2nd quarter worth about $1,136,000. Finally, Quantinno Capital Management LP boosted its stake in Fortinet by 27.4% in the 2nd quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock worth $15,328,000 after purchasing an additional 31,202 shares during the period. Institutional investors own 83.71% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on FTNT. TD Cowen reiterated a “buy” rating and set a $215.00 price target (up from $160.00) on shares of Fortinet in a research report on Monday, July 13th. Bank of America reaffirmed a “buy” rating on shares of Fortinet in a report on Monday, July 27th. Truist Financial set a $183.00 target price on shares of Fortinet and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded shares of Fortinet from a “hold” rating to a “buy” rating in a research report on Monday. Finally, William Blair reiterated a “market perform” rating on shares of Fortinet in a research report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $150.91.

Get Our Latest Stock Report on Fortinet

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

Positive Sentiment: Strong earnings and raised guidance support the growth story. Fortinet reported second-quarter revenue of approximately $2.05 billion, up 25.6% year over year, and adjusted earnings of $0.90 per share versus the $0.75 analyst consensus. Management raised full-year 2026 revenue guidance to $8.02 billion-$8.18 billion and forecast third-quarter revenue of $2.01 billion-$2.10 billion. Fortinet guidance and AI firewall article
Positive Sentiment: AI-focused security products and rising cyber threats provide potential catalysts. Fortinet launched the FortiGate 1200G series with FortiSASE Outpost for high-performance, AI-focused and sovereignty-sensitive hybrid environments. Separately, reported AI-powered “vishing” attacks targeting major financial firms underscore the growing need for cybersecurity services. AI-powered vishing cyberattacks article
Positive Sentiment: Quantitative screens remain favorable. Zacks added FTNT to its Rank #1 “Strong Buy” and momentum lists, while other coverage identified Fortinet as a growth-at-a-reasonable-price candidate because of its above-average financial growth. Zacks momentum stocks article
Neutral Sentiment: Insider sales were limited and appear administrative. CEO Ken Xie sold 161,482 shares and VP Michael Xie sold 3,121 shares under pre-arranged Rule 10b5-1 plans to cover tax withholding on vested equity awards. The transactions reduced their holdings by only 0.30% and 0.03%, respectively.
Negative Sentiment: Valuation and analyst caution may be encouraging investors to lock in gains. FTNT trades at a high earnings multiple after a substantial run, while its average analyst rating remains “Hold” with a consensus price target below recent trading levels. Deutsche Bank and Baird maintained Hold ratings, and Baird cited margin and balance-sheet risks with a $165 target.

Fortinet Stock Down 2.4%

FTNT opened at $164.26 on Thursday. The business’s fifty day simple moving average is $152.50 and its 200 day simple moving average is $111.17. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $172.09. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The stock has a market cap of $120.52 billion, a PE ratio of 57.84, a P/E/G ratio of 3.19 and a beta of 1.07.

Fortinet (NASDAQ:FTNT – Get Free Report) last posted its quarterly earnings data 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 during 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. As a group, research analysts expect that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fortinet news, COO John Whittle sold 146,015 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the transaction, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael Xie sold 3,121 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the completion of the sale, the vice president owned 9,918,360 shares of the company’s stock, valued at approximately $1,613,022,886.80. The trade was a 0.03% decrease in their ownership of the stock. 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. Insiders sold a total of 475,157 shares of company stock valued at $69,480,964 over the last quarter. 17.60% of the stock is owned by corporate insiders.

Fortinet Company 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.