HighTower Advisors LLC Increases Stock Holdings in Fortinet, Inc. $FTNT

HighTower Advisors LLC boosted its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 18.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 318,956 shares of the software maker’s stock after acquiring an additional 48,789 shares during the quarter. HighTower Advisors LLC’s holdings in Fortinet were worth $26,818,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in FTNT. Florida Financial Advisors LLC boosted its position in shares of Fortinet by 29.8% during the third quarter. Florida Financial Advisors LLC now owns 12,787 shares of the software maker’s stock worth $1,075,000 after buying an additional 2,936 shares during the period. Balboa Wealth Partners lifted its position in shares of Fortinet by 45.8% during the third quarter. Balboa Wealth Partners now owns 3,397 shares of the software maker’s stock worth $286,000 after purchasing an additional 1,067 shares in the last quarter. Lafayette Investments Inc. acquired a new position in shares of Fortinet in the third quarter valued at approximately $200,000. Abich Financial Wealth Management LLC purchased a new stake in Fortinet during the 3rd quarter worth approximately $144,000. Finally, Assetmark Inc. lifted its holdings in Fortinet by 1.9% during the 3rd quarter. Assetmark Inc. now owns 110,941 shares of the software maker’s stock worth $9,328,000 after buying an additional 2,092 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FTNT shares. UBS Group reaffirmed a “neutral” rating and set a $90.00 price objective on shares of Fortinet in a research report on Friday, February 6th. Citigroup restated a “neutral” rating and set a $90.00 target price (up from $85.00) on shares of Fortinet in a research note on Monday, February 9th. Morgan Stanley restated an “underweight” rating and issued a $70.00 price objective (up from $66.00) on shares of Fortinet in a report on Thursday, December 18th. Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of Fortinet in a report on Friday, February 6th. Finally, Scotiabank downgraded Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 price target for the company. in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $89.42.

Insider Activity at Fortinet

In related news, VP Michael Xie sold 343,106 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the completion of the sale, the vice president directly owned 10,210,282 shares of the company’s stock, valued at $831,321,160.44. This trade represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ken Xie sold 175,737 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the completion of the transaction, the chief executive officer directly owned 51,396,385 shares in the company, valued at $4,184,693,666.70. This represents a 0.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is owned by corporate insiders.

Fortinet Stock Down 1.2%

Fortinet stock opened at $80.69 on Thursday. The stock has a 50-day simple moving average of $80.54 and a 200-day simple moving average of $81.70. The company has a market capitalization of $60.01 billion, a P/E ratio of 33.21, a PEG ratio of 2.82 and a beta of 1.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $114.63.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. Fortinet’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Equities research analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current year.

About Fortinet

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.