Fiera Capital Corp Sells 812,981 Shares of Fortinet, Inc. $FTNT

Fiera Capital Corp lowered its stake in Fortinet, Inc. (NASDAQ:FTNT) by 86.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,558 shares of the software maker’s stock after selling 812,981 shares during the quarter. Fiera Capital Corp’s holdings in Fortinet were worth $10,389,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after acquiring an additional 221 shares in the last quarter. Bison Wealth LLC bought a new position in Fortinet in the 4th quarter valued at $585,000. Cullen Frost Bankers Inc. grew its position in shares of Fortinet by 1.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 15,886 shares of the software maker’s stock valued at $1,679,000 after purchasing an additional 160 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Fortinet in the second quarter worth $70,000. Finally, Ethic Inc. increased its holdings in shares of Fortinet by 6.2% in the second quarter. Ethic Inc. now owns 41,843 shares of the software maker’s stock worth $4,314,000 after purchasing an additional 2,433 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Transactions at Fortinet

In other news, VP Michael Xie sold 343,106 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 $27,935,690.52. Following the transaction, the vice president owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ken Xie sold 175,737 shares of the 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 $4,184,693,666.70. This represents a 0.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is currently owned by company insiders.

Fortinet Stock Down 2.0%

Shares of NASDAQ FTNT opened at $80.00 on Friday. The stock has a market capitalization of $59.49 billion, a P/E ratio of 32.92, a PEG ratio of 2.82 and a beta of 1.06. Fortinet, Inc. has a one year low of $70.12 and a one year high of $114.57. The firm’s 50 day simple moving average is $80.48 and its two-hundred day simple moving average is $81.58. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share (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 during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the company earned $0.74 EPS. 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. As a group, analysts expect that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FTNT shares. Scotiabank cut Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 target price for the company. in a research report on Monday, February 2nd. Royal Bank Of Canada reissued a “sector perform” rating and set a $90.00 price objective (up previously from $85.00) on shares of Fortinet in a report on Friday, February 6th. Rosenblatt Securities upped their price objective on shares of Fortinet from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Truist Financial set a $88.00 target price on shares of Fortinet in a research report on Tuesday, January 20th. Finally, JPMorgan Chase & Co. increased their price target on shares of Fortinet from $72.00 to $73.00 and gave the stock an “underweight” rating 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Fortinet currently has a consensus rating of “Hold” and a consensus target price of $89.42.

Fortinet Company 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.