Fortinet, Inc. $FTNT Shares Purchased by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Fortinet, Inc. (NASDAQ:FTNT) by 333.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,874 shares of the software maker’s stock after purchasing an additional 22,207 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Fortinet were worth $2,428,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of FTNT. LSV Asset Management acquired a new stake in shares of Fortinet during the second quarter worth $25,000. Financial Consulate Inc. purchased a new position in Fortinet in the 3rd quarter worth $25,000. Steigerwald Gordon & Koch Inc. acquired a new stake in Fortinet during the 3rd quarter worth about $25,000. SJS Investment Consulting Inc. grew its stake in Fortinet by 1,556.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 381 shares of the software maker’s stock valued at $32,000 after purchasing an additional 358 shares during the last quarter. Finally, Quaker Wealth Management LLC increased its holdings in shares of Fortinet by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock valued at $38,000 after purchasing an additional 726 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Activity

In related news, CEO Ken Xie sold 175,737 shares of Fortinet stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $14,308,506.54. Following the completion of the transaction, the chief executive officer owned 51,396,385 shares in the company, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Xie sold 343,106 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $27,935,690.52. Following the transaction, the vice president owned 10,210,282 shares in the company, valued at $831,321,160.44. This represents a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FTNT has been the subject of a number of research reports. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of Fortinet in a report on Friday, February 6th. Daiwa Securities Group downgraded shares of Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price objective on the stock. in a report on Wednesday, November 12th. JPMorgan Chase & Co. increased their price objective on shares of Fortinet from $72.00 to $73.00 and gave the stock an “underweight” rating in a research note 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 report on Monday, February 9th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $90.00 price target (up from $85.00) on shares of Fortinet in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $89.42.

Fortinet Stock Performance

FTNT opened at $80.00 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09. The firm has a fifty day moving average price of $80.48 and a 200 day moving average price of $81.47. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $114.57. The stock has a market cap of $59.49 billion, a P/E ratio of 32.92, a P/E/G ratio of 2.77 and a beta of 1.06.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.74 by $0.07. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business earned $0.74 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. 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 anticipate that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Fortinet Profile

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.