Motley Fool Asset Management LLC Acquires 6,197 Shares of Fortinet, Inc. $FTNT

Posted by Geri Gentry on Oct 29th, 2026

Motley Fool Asset Management LLC boosted its holdings in Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 10.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 63,361 shares of the software maker’s stock after buying an additional 6,197 shares during the period. Motley Fool Asset Management LLC’s holdings in Fortinet were worth $11,326,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Burk Holdings LLC purchased a new position in shares of Fortinet in the second quarter valued at about $25,000. Dunhill Financial LLC purchased a new stake in shares of Fortinet during the second quarter worth about $25,000. Cornerstone Financial Management LLC grew its position in shares of 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 purchasing an additional 83 shares in the last quarter. NFSG Corp purchased a new stake in shares of Fortinet during the third quarter worth about $34,000. Finally, Timbuktu Capital Management LLC bought a new stake in Fortinet during the 2nd quarter valued at approximately $31,000. 83.71% of the stock is owned by institutional investors.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

Positive Sentiment: Fortinet reported third-quarter revenue of $2.08 billion, up approximately 20% year over year, while adjusted earnings reached $0.91 per share versus the roughly $0.85–$0.86 consensus estimate. Product revenue rose 37% to $765 million. Fortinet Reports Strong Third Quarter 2026 Financial Results
Positive Sentiment: Management raised its 2026 revenue-growth outlook to approximately 20% and issued fourth-quarter adjusted EPS guidance of $0.93 to $0.95, indicating continued profitability and operating momentum. Fortinet Fourth-Quarter EPS Guidance
Positive Sentiment: The board authorized an additional $1.2 billion for share repurchases, leaving $2 billion available under the program. The buyback may support per-share results and signals management’s confidence in the company’s long-term cash generation. Fortinet Adds to Share Repurchase Program
Neutral Sentiment: Fortinet continues expanding its product portfolio with FortiLink SASE for distributed locations and FortiGuard Inline AI Security for AI-related threats. These offerings could create future recurring-revenue opportunities, but their near-term financial contribution remains uncertain. Fortinet Expands Unified SASE
Negative Sentiment: Billings growth, a forward-looking indicator of future revenue, underwhelmed investors despite increasing 29% to $2.34 billion. Cybersecurity stocks also sold off broadly as growth slowed significantly in one of Fortinet’s business segments, raising concerns that premium valuation expectations may be difficult to sustain. Fortinet Stock Falls After Earnings

Insider Buying and Selling 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 stock was sold at an average price of $162.63, for a total value of $507,568.23. Following the sale, the vice president owned 9,918,360 shares of the company’s stock, valued at $1,613,022,886.80. The trade was a 0.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 Fortinet stock in a transaction that occurred on 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 completion of the sale, the chief operating officer directly owned 96,987 shares in the company, valued at approximately $16,045,529.28. The trade was a 35.71% decrease in their position. 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. Insiders sold 221,303 shares of company stock worth $36,164,034 in the last quarter. 17.60% of the stock is owned by corporate insiders.

Fortinet Trading Down 5.9%

Shares of Fortinet stock opened at $174.08 on Thursday. Fortinet, Inc. has a twelve month low of $73.55 and a twelve month high of $197.13. 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 business has a 50-day moving average price of $171.91 and a 200-day moving average price of $127.69. The firm has a market cap of $127.72 billion, a price-to-earnings ratio of 61.30, a PEG ratio of 3.36 and a beta of 1.03.

Fortinet (NASDAQ:FTNT – Get Free Report) last posted its earnings results on Wednesday, October 28th. The software maker reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 earnings per share. Equities research analysts anticipate that Fortinet, Inc. will post 3.10 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barclays set a $210.00 price target on Fortinet and gave the stock an “equal weight” rating in a report on Monday, October 12th. DZ Bank downgraded Fortinet from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $160.00 price objective (up from $100.00) on shares of Fortinet in a report on Thursday, July 30th. Susquehanna lifted their price objective on shares of Fortinet from $115.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Finally, Wall Street Zen upgraded shares of Fortinet from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, Fortinet has an average rating of “Hold” and a consensus price target of $162.36.

Get Our Latest Stock Report on FTNT

About Fortinet

(Free Report)

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.