Fortinet, Inc. $FTNT Stake Cut by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. cut its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 45.3% in the third quarter, HoldingsChannel reports. The fund owned 21,959 shares of the software maker’s stock after selling 18,187 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Fortinet were worth $1,846,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after purchasing an additional 221 shares during the period. Bison Wealth LLC purchased a new stake in Fortinet in the 4th quarter worth approximately $585,000. Envestnet Asset Management Inc. lifted its position in Fortinet by 7.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 648,605 shares of the software maker’s stock worth $68,566,000 after buying an additional 44,216 shares in the last quarter. Brookwood Investment Group LLC acquired a new stake in shares of Fortinet during the 2nd quarter valued at $211,000. Finally, Quaker Wealth Management LLC grew its holdings in shares of Fortinet by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock valued at $38,000 after acquiring an additional 726 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 175,737 shares of Fortinet 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 $14,308,506.54. Following the transaction, the chief executive officer directly owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their position. The sale was disclosed in a filing with the SEC, 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 shares were sold at an average price of $81.42, for a total value of $27,935,690.52. Following the completion of the sale, the vice president directly owned 10,210,282 shares of the company’s stock, valued at $831,321,160.44. This represents a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 17.20% of the company’s stock.

Fortinet Stock Performance

NASDAQ:FTNT opened at $79.20 on Friday. The firm has a market capitalization of $58.90 billion, a PE ratio of 32.59, a PEG ratio of 2.67 and a beta of 1.06. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $111.31. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The firm’s fifty day simple moving average is $80.17 and its 200 day simple moving average is $81.33.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results 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 period in the prior year, the company earned $0.74 earnings per share. The business’s quarterly 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. On average, sell-side analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on FTNT shares. HSBC lowered Fortinet from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Truist Financial set a $88.00 price target on Fortinet in a research note on Tuesday, January 20th. Mizuho boosted their price target on Fortinet from $72.00 to $74.00 and gave the company an “underperform” rating in a research note on Friday, February 6th. Jefferies Financial Group set a $90.00 price objective on Fortinet in a report on Friday, February 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $90.00 target price on shares of Fortinet in a research note 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 issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.