Diversify Wealth Management LLC Buys New Position in Fortinet, Inc. $FTNT

Diversify Wealth Management LLC purchased a new stake in Fortinet, Inc. (NASDAQ:FTNT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 43,802 shares of the software maker’s stock, valued at approximately $3,834,000.

A number of other hedge funds have also recently bought and sold shares of FTNT. LSV Asset Management bought a new position in shares of Fortinet during the second quarter valued at about $25,000. Financial Consulate Inc. purchased a new stake in Fortinet in the 3rd quarter valued at about $25,000. Steigerwald Gordon & Koch Inc. purchased a new stake in Fortinet in the 3rd quarter valued at about $25,000. SJS Investment Consulting Inc. lifted its position in shares of Fortinet by 1,556.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 381 shares of the software maker’s stock worth $32,000 after buying an additional 358 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its stake in shares of Fortinet by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 448 shares of the software maker’s stock worth $38,000 after buying an additional 224 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Michael Xie sold 343,106 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $27,935,690.52. Following the completion of the transaction, the vice president directly owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. This trade represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ken Xie sold 175,737 shares of Fortinet stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $14,308,506.54. Following the sale, the chief executive officer owned 51,396,385 shares of the company’s stock, valued at approximately $4,184,693,666.70. This trade represents a 0.34% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 17.20% of the company’s stock.

Fortinet Price Performance

NASDAQ FTNT opened at $79.03 on Friday. The company has a market cap of $58.48 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 2.74 and a beta of 1.06. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. The firm’s 50-day simple moving average is $80.14 and its two-hundred day simple moving average is $81.36. Fortinet, Inc. has a 52 week low of $70.12 and a 52 week high of $110.67.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.86 billion. During the same period in the prior year, the company posted $0.74 EPS. Fortinet’s revenue was up 14.8% compared to the same quarter last year. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Research analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on FTNT shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $90.00 price target (up from $85.00) on shares of Fortinet in a research report on Friday, February 6th. Truist Financial set a $88.00 price objective on Fortinet in a research report on Tuesday, January 20th. TD Cowen raised Fortinet from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Friday, January 23rd. Jefferies Financial Group set a $90.00 target price on Fortinet in a research note on Friday, February 6th. Finally, Citigroup restated a “neutral” rating and set a $90.00 price target (up from $85.00) on shares of Fortinet in a research report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-three have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $89.42.

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.