23,499 Shares in Fortinet, Inc. $FTNT Acquired by Great Lakes Advisors LLC

Posted by Brenda Bartman on Aug 21st, 2026

Great Lakes Advisors LLC bought a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,499 shares of the software maker’s stock, valued at approximately $3,610,000.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Fortinet during the second quarter worth $9,561,650,000. Norges Bank acquired a new stake in shares of Fortinet in the 4th quarter worth $1,152,917,000. Bank of New York Mellon Corp acquired a new stake in shares of Fortinet in the 2nd quarter worth $1,432,842,000. Arrowstreet Capital Limited Partnership grew its stake in Fortinet by 87.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock worth $788,682,000 after buying an additional 4,500,194 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in Fortinet during the 2nd quarter worth $581,102,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fortinet

In other Fortinet news, VP Michael Xie sold 3,121 shares of Fortinet stock in a transaction that occurred on 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 sale, the vice president directly owned 9,918,360 shares in the company, valued at approximately $1,613,022,886.80. The trade was a 0.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 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 transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This 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. Over the last 90 days, insiders have sold 329,142 shares of company stock valued at $50,731,178. Company insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on FTNT. The Goldman Sachs Group reiterated a “buy” rating and issued a $190.00 price target on shares of Fortinet in a research note on Thursday, July 30th. Zacks Research upgraded shares of Fortinet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Bank of America reaffirmed a “buy” rating on shares of Fortinet in a research 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. Finally, Wall Street Zen upgraded shares of Fortinet from a “hold” rating to a “buy” rating in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, Fortinet has an average rating of “Hold” and a consensus price target of $150.91.

Get Our Latest Stock Analysis on FTNT

Fortinet Stock Down 1.3%

Shares of FTNT stock opened at $150.79 on Friday. Fortinet, Inc. has a fifty-two week low of $73.55 and a fifty-two week high of $172.09. The firm has a market capitalization of $110.64 billion, a PE ratio of 53.10, a P/E/G ratio of 2.90 and a beta of 1.07. 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 stock’s 50-day simple moving average is $156.10 and its 200-day simple moving average is $117.36.

Fortinet (NASDAQ:FTNT – Get Free Report) last released its earnings results on Wednesday, July 29th. The software maker reported $0.90 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 the consensus estimate of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The company’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. 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 analysts expect that Fortinet, Inc. will post 3.05 earnings per share for the current 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.