Strive Asset Management LLC Buys New Stake in Fortinet, Inc. $FTNT

Strive Asset Management LLC bought a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) during the third quarter, HoldingsChannel reports. The fund bought 15,000 shares of the software maker’s stock, valued at approximately $1,261,000.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its position in Fortinet by 2.2% during the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after purchasing an additional 221 shares in the last quarter. Bison Wealth LLC acquired a new stake in shares of Fortinet during the 4th quarter worth about $585,000. World Investment Advisors grew its holdings in shares of Fortinet by 44.5% during the second quarter. World Investment Advisors now owns 5,429 shares of the software maker’s stock worth $574,000 after buying an additional 1,671 shares in the last quarter. Savvy Advisors Inc. acquired a new position in shares of Fortinet in the second quarter valued at approximately $217,000. Finally, Pinnacle Associates Ltd. lifted its stake in shares of Fortinet by 280.0% during the second quarter. Pinnacle Associates Ltd. now owns 12,942 shares of the software maker’s stock valued at $1,368,000 after buying an additional 9,536 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FTNT has been the subject of several recent analyst reports. Jefferies Financial Group set a $90.00 target price on shares of Fortinet in a research note on Friday, February 6th. Robert W. Baird set a $90.00 price objective on Fortinet in a research report on Friday, February 6th. HSBC downgraded Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Freedom Capital downgraded shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $70.00 target price (up from $66.00) on shares of Fortinet in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $88.62.

Insiders Place Their Bets

In other news, VP Michael Xie sold 343,106 shares of the 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 completion of the sale, the vice president 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ken Xie sold 175,737 shares of the firm’s 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 in the company, valued at approximately $4,184,693,666.70. The trade was a 0.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is currently owned by corporate insiders.

Fortinet Stock Up 0.2%

Shares of NASDAQ:FTNT opened at $79.18 on Tuesday. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $110.67. The stock has a 50-day simple moving average of $80.09 and a 200-day simple moving average of $81.41. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17. The stock has a market capitalization of $58.59 billion, a P/E ratio of 32.58, a PEG ratio of 2.73 and a beta of 1.06.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $1.86 billion. During the same period in the previous year, the firm earned $0.74 earnings per share. Fortinet’s revenue for the quarter 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. Equities analysts forecast that Fortinet, Inc. will post 2.09 earnings per share for the current year.

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.