<div id="readability-page-1"><p>Bleakley Financial Group LLC purchased a new stake in shares of  Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 10,296 shares of the software maker's stock, valued at approximately $1,088,000.</p><ul><li>3 Cybersecurity Stocks Poised for Long-Term Growth</li></ul><p>A number of other hedge funds have also recently made changes to their positions in FTNT. Vanguard Group Inc. grew its position in shares of  Fortinet by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 71,662,404 shares of the software maker's stock valued at $6,898,223,000 after purchasing an additional 3,546,934 shares in the last quarter.  AQR Capital Management LLC grew its position in shares of  Fortinet by 40.9% during the 1st quarter. AQR Capital Management LLC now owns 5,971,648 shares of the software maker's stock valued at $561,156,000 after purchasing an additional 1,733,670 shares in the last quarter.  Nuveen LLC purchased a new position in shares of  Fortinet during the 1st quarter valued at $153,576,000.  UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in  Fortinet by 17.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,016,467 shares of the software maker's stock worth $675,405,000 after acquiring an additional 1,026,277 shares in the last quarter.  Finally, Montrusco Bolton Investments Inc. purchased a new position in  Fortinet in the second quarter worth $108,056,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors. </p><h2>Analyst Upgrades and Downgrades</h2><p>FTNT has been the subject of several research reports. Wells Fargo &amp; Company cut their target price on shares of Fortinet from $110.00 to $85.00 and set an &#34;equal weight&#34; rating for the company in a research report on Thursday, August 7th. Morgan Stanley  reiterated an &#34;underweight&#34; rating and issued a $67.00 target price (down from $78.00) on shares of Fortinet in a research report on Tuesday, September 2nd. Erste Group Bank lowered shares of Fortinet from a &#34;buy&#34; rating to a &#34;hold&#34; rating in a research report on Thursday, August 14th. Cantor Fitzgerald upped their target price on shares of Fortinet from $100.00 to $110.00 and gave the stock a &#34;neutral&#34; rating in a research report on Wednesday, July 16th. Finally, Wedbush cut their target price on shares of Fortinet from $120.00 to $100.00 and set an &#34;outperform&#34; rating for the company in a research report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned  a Buy rating, twenty-five have given a Hold rating and two have issued  a Sell rating to the company. Based on data from MarketBeat, Fortinet presently has a consensus rating of &#34;Hold&#34; and an average price target of $97.03.</p><ul><li>Downgraded But Not Done: 3 Stocks Ready for a Market Comeback</li></ul><p><b>Read Our Latest Stock Analysis on Fortinet</b></p><h2>Fortinet Stock Performance</h2><p>Fortinet stock opened at $85.56 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.33 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $65.56 billion, a PE ratio of 34.09, a P/E/G ratio of 3.22 and a beta of 1.09. The firm has a fifty day simple moving average of $81.97 and a two-hundred day simple moving average of $93.97. Fortinet, Inc. has a twelve month low of $70.12 and a twelve month high of $114.82. </p><ul><li>3 Cybersecurity Stocks to Watch Ahead of 2026 Midterms</li></ul><p>Fortinet (NASDAQ:FTNT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. Fortinet had a net margin of 30.60% and a return on equity of 111.46%. The firm's revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.57 earnings per share.  Research analysts expect that  Fortinet, Inc. will post 2.09 EPS for the current year. </p><h2>Insider Activity</h2><p>In other news, CEO Ken Xie sold 158,486 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $98.48, for a total transaction of $15,607,701.28. Following the completion of the transaction, the chief executive officer directly owned 51,391,879 shares of the company's stock, valued at approximately $5,061,072,243.92. This represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michael Xie sold 476,596 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $98.48, for a total transaction of $46,935,174.08. Following the transaction, the vice president directly owned 9,730,560 shares of the company's stock, valued at approximately $958,265,548.80. This trade represents a 4.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own  17.20% of the company's stock. </p><h2>Fortinet Profile</h2> (Free Report)<p>Fortinet, Inc provides cybersecurity and convergence of networking and security solutions worldwide. It offers secure networking solutions focus on the convergence of networking and security; network firewall solutions that consist of FortiGate data centers, hyperscale, and distributed firewalls, as well as encrypted applications; wireless LAN solutions; and secure connectivity solutions, including FortiSwitch secure ethernet switches, FortiAP wireless local area network access points, FortiExtender 5G connectivity gateways, and other products.</p><h2>Recommended Stories</h2><ul><li>Five stocks we like better than Fortinet</li><li>3 Warren Buffett Stocks to Buy Now</li><li>Tractor Supply Stock Looks Like a Buy-and-Hold Winner</li><li>How to Know if a Stock Pays Dividends and When They Are Paid Out</li><li>3 Stocks Well Below 52-Week Highs Poised for a Q4 Rebound</li><li>3 Grocery Stocks That Can Help Take a Bite Out of Inflation </li><li>Big Banks Are Setting the Tone as Earnings Season Kicks Off</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9RlROVA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9RlROVA"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Fortinet Right Now?</h2><p>Before you consider Fortinet, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fortinet wasn't on the list.</p><p>While Fortinet currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

FTNT

<p>Bleakley Financial Group LLC acquired a new stake in Fortinet, Inc. (NASDAQ:FTNT) during Q2, purchasing 10,296 shares valued at approximately $1.1 million. Other hedge funds, including Vanguard and AQR Capital Management, also increased their positions in Fortinet. Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and an average price target of $97.03. Fortinet's stock opened at $85.56, with a market cap of $65.56 billion and a recent earnings report showing a net margin of 30.60%.</p>

Bleakley Financial Group LLC Takes Position in Fortinet, Inc. $FTNT