Fortinet (NASDAQ:FTNT) Reaches New 12-Month High – Here’s What Happened

Posted by George Bondi on Oct 9th, 2026

Fortinet, Inc. (NASDAQ:FTNT – Get Free Report) shares hit a new 52-week high during mid-day trading on Friday. The company traded as high as $192.77 and last traded at $191.9270, with a volume of 86562 shares changing hands. The stock had previously closed at $189.10.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FTNT shares. UBS Group reiterated a “neutral” rating and issued a $180.00 price objective on shares of Fortinet in a report on Thursday, July 30th. HC Wainwright reaffirmed a “buy” rating on shares of Fortinet in a report on Thursday, July 30th. Robert W. Baird set a $165.00 price objective on Fortinet in a report on Thursday, July 30th. Truist Financial set a $183.00 price target on Fortinet and gave the stock a “buy” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings upgraded shares of Fortinet from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $152.79.

Get Our Latest Analysis on Fortinet

Fortinet Price Performance

The stock has a fifty day simple moving average of $166.61 and a 200-day simple moving average of $138.83. The company has a market capitalization of $140.77 billion, a price-to-earnings ratio of 67.54, a P/E/G ratio of 3.53 and a beta of 1.03. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19.

Fortinet (NASDAQ:FTNT – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. Fortinet’s quarterly revenue was up 25.6% on a year-over-year basis. 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 research analysts anticipate that Fortinet, Inc. will post 3.1 EPS for the current year.

Insider Buying and Selling

In other news, VP Michael Xie sold 3,121 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.63, for a total value of $507,568.23. Following the sale, the vice president directly owned 9,918,360 shares of the company’s stock, valued at approximately $1,613,022,886.80. This represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a filing 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, COO John Whittle sold 53,865 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $165.44, for a total value of $8,911,425.60. Following the transaction, the chief operating officer directly owned 96,987 shares of the company’s stock, valued at approximately $16,045,529.28. This represents a 35.71% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 221,303 shares of company stock valued at $36,164,034. 17.60% of the stock is owned by insiders.

Institutional Trading of Fortinet

Several hedge funds have recently modified their holdings of FTNT. BlackRock Inc. acquired a new position in Fortinet in the second quarter worth approximately $9,561,650,000. First Trust Advisors LP lifted its holdings in shares of Fortinet by 45.5% in the first quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock valued at $940,284,000 after purchasing an additional 3,598,487 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Fortinet by 87.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock worth $788,682,000 after acquiring an additional 4,500,194 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Fortinet in the second quarter worth $1,432,842,000. Finally, Van ECK Associates Corp grew its holdings in shares of Fortinet by 38.9% during the fourth quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock valued at $613,915,000 after buying an additional 2,166,396 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Company Profile

(Get 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.