Fortinet, Inc. $FTNT Shares Bought by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC grew its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 107.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,551 shares of the software maker’s stock after acquiring an additional 5,988 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Fortinet were worth $1,006,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Physician Wealth Advisors Inc. lifted its stake in shares of Fortinet by 408.3% during the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after purchasing an additional 245 shares in the last quarter. Wexford Capital LP acquired a new stake in shares of Fortinet during the third quarter worth approximately $25,000. Elyxium Wealth LLC acquired a new stake in shares of Fortinet in the 4th quarter valued at about $27,000. Palisade Asset Management LLC bought a new stake in Fortinet in the third quarter valued at about $28,000. Finally, Ares Financial Consulting LLC acquired a new stake in shares of Fortinet during the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Down 2.3%

FTNT opened at $160.78 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. The company has a market capitalization of $117.80 billion, a PE ratio of 62.08, a price-to-earnings-growth ratio of 4.47 and a beta of 1.09. The business has a 50-day moving average of $143.35 and a 200-day moving average of $103.39. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $170.35.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Equities research analysts forecast that Fortinet, Inc. will post 2.8 EPS for the current fiscal year.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet was upgraded by Zacks Research from hold to strong-buy, signaling stronger earnings optimism and a potentially more favorable near-term trading setup. Article Title
• Positive Sentiment: Several articles highlighted Fortinet as a beneficiary of rising cybersecurity demand, especially as AI infrastructure spending and global threat concerns keep security budgets elevated. Article Title
• Positive Sentiment: Coverage on Fortinet’s AI security initiatives, including the expansion of FortiEndpoint and broader AI cybersecurity positioning, is reinforcing the growth narrative around the stock. Article Title
• Positive Sentiment: Fortinet’s selection of TD SYNNEX as a global delivery/distribution partner adds another sign of expanding channel reach and customer access. Article Title
• Neutral Sentiment: MarketWatch noted that Fortinet has been outperforming peers despite weakness in the broader session, suggesting relative strength rather than a fresh fundamental catalyst. Article Title
• Neutral Sentiment: Some commentary compared Fortinet with peers like Palo Alto and Microsoft, but also raised valuation concerns after a strong multi-year run, which may cap upside if growth does not keep pace. Article Title

Insider Activity

In related news, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the transaction, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the sale, the vice president directly owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This represents a 0.04% 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 quarter, insiders have sold 318,387 shares of company stock valued at $43,403,063. Insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on FTNT. Cantor Fitzgerald restated a “neutral” rating and issued a $87.00 target price on shares of Fortinet in a research note on Tuesday, April 21st. BTIG Research upped their price objective on shares of Fortinet from $150.00 to $186.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Stephens set a $115.00 price target on Fortinet and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Mizuho set a $125.00 target price on Fortinet and gave the company an “underperform” rating in a research note on Wednesday. Finally, Zacks Research raised Fortinet from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-three have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $113.97.

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.