4,676 Fortinet, Inc. $FTNT Shares Sold by Slow Capital Inc.

Slow Capital Inc. reduced its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 6.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,281 shares of the software maker’s stock after selling 4,676 shares during the quarter. Fortinet makes up 1.3% of Slow Capital Inc.’s portfolio, making the stock its 22nd biggest holding. Slow Capital Inc.’s holdings in Fortinet were worth $11,491,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Burk Holdings LLC purchased a new stake in Fortinet in the 2nd quarter valued at about $25,000. Dunhill Financial LLC purchased a new position in shares of Fortinet during the 2nd quarter worth about $25,000. Cornerstone Financial Management LLC lifted its holdings in shares of Fortinet by 102.5% during the 2nd quarter. Cornerstone Financial Management LLC now owns 164 shares of the software maker’s stock worth $25,000 after acquiring an additional 83 shares during the period. NFSG Corp purchased a new position in shares of Fortinet during the 3rd quarter worth about $34,000. Finally, Timbuktu Capital Management LLC acquired a new stake in shares of Fortinet in the second quarter worth approximately $31,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Jefferies expects Fortinet’s third-quarter product revenue growth to reach roughly 50% year over year, well above the 31% consensus forecast. The broker cited favorable industry checks, price increases and accelerated firewall replacement activity. Fortinet growth outlook for 2027 becomes key test for investors, says Jefferies
• Positive Sentiment: Investors are looking for another strong quarterly result, with analysts expecting double-digit year-over-year EPS growth. Fortinet’s ability to sustain product growth into fiscal 2027 will be the central focus of the earnings outlook. What to Expect From Fortinet’s Next Quarterly Earnings Report
• Positive Sentiment: Recent bullish positioning, including a previously raised $200 price target, reflects expectations for continued cybersecurity spending and AI-related demand. Fortinet’s hardware-software combination was also highlighted as a potential long-term competitive advantage. Fortinet versus Cisco and Palo Alto Networks
• Neutral Sentiment: Jefferies maintained a “hold” rating, emphasizing that forward guidance for 2027 matters more than simply beating near-term estimates. Fortinet trades at a premium valuation, increasing the importance of durable growth and strong cash generation.
• Neutral Sentiment: Fortinet released coordinated security-hardening updates for multiple products, which may have improved sentiment amid broader cybersecurity concerns, although the updates are not a major direct earnings catalyst.
• Negative Sentiment: JPMorgan raised its price target from $118 to $140 but retained an “underweight” rating, implying substantial downside from recent trading levels. JPMorgan Fortinet rating
• Negative Sentiment: Arete Research reportedly downgraded Fortinet to “sell,” adding to concerns that the stock’s elevated valuation already discounts much of its expected growth.
• Negative Sentiment: Reported insider activity shows executives made no open-market purchases and sold shares during the past six months, a potentially cautionary signal, though such sales may reflect scheduled diversification.

Fortinet Stock Performance

Fortinet stock opened at $179.99 on Monday. The company has a market cap of $132.06 billion, a price-to-earnings ratio of 63.38, a price-to-earnings-growth ratio of 3.36 and a beta of 1.03. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $197.13. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. The stock’s 50-day moving average is $170.47 and its 200-day moving average is $146.53.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Equities analysts anticipate that Fortinet, Inc. will post 3.10 earnings per share for the current year.

Insider Buying and Selling at Fortinet

In other news, CEO Ken Xie sold 161,482 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO John Whittle sold 53,865 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $165.44, for a total transaction of $8,911,425.60. Following the completion of the transaction, the chief operating officer directly owned 96,987 shares in the company, valued at approximately $16,045,529.28. This represents a 35.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 221,303 shares of company stock valued at $36,164,034 over the last ninety days. Corporate insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

FTNT has been the subject of a number of recent analyst reports. UBS Group restated a “neutral” rating and issued a $200.00 target price on shares of Fortinet in a report on Thursday, October 15th. Yorkville Ives started coverage on shares of Fortinet in a research report on Tuesday, October 6th. They set an “outperform” rating and a $225.00 price target for the company. Barclays set a $210.00 price target on shares of Fortinet and gave the stock an “equal weight” rating in a research note on Monday, October 12th. Zacks Research upgraded shares of Fortinet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Finally, Morgan Stanley reiterated a “positive” rating and issued a $136.00 price target (up from $133.00) on shares of Fortinet in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, Fortinet presently has a consensus rating of “Hold” and an average price target of $162.36.

Fortinet Profile

Fortinet, Inc develops cybersecurity products and services designed to protect networks, endpoints, applications, cloud environments and operational technology systems. The company’s portfolio includes next-generation firewalls, secure networking products, endpoint security, web application security, email security, identity and access solutions, and security information and event management tools.

Its product offerings include FortiGate network security appliances and cloud-based firewalls, along with FortiSwitch, FortiAP and FortiExtender solutions for secure connectivity.