Strs Ohio Sells 12,144 Shares of Fortinet, Inc. $FTNT

Strs Ohio cut its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 8.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 132,044 shares of the software maker’s stock after selling 12,144 shares during the period. Strs Ohio’s holdings in Fortinet were worth $10,791,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Fortinet during the fourth quarter worth approximately $1,152,917,000. Van ECK Associates Corp boosted its stake in Fortinet by 38.9% in the fourth quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock valued at $613,915,000 after acquiring an additional 2,166,396 shares during the last quarter. AQR Capital Management LLC boosted its stake in Fortinet by 76.2% in the fourth quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock valued at $326,297,000 after acquiring an additional 1,777,115 shares during the last quarter. Invesco Ltd. grew its holdings in Fortinet by 17.0% during the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after acquiring an additional 1,568,337 shares during the period. Finally, Capital World Investors acquired a new stake in Fortinet during the 4th quarter worth $100,256,000. Institutional investors own 83.71% of the company’s stock.

Insider Transactions at Fortinet

In other Fortinet news, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total value of $23,384,806.56. Following the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 318,387 shares of company stock valued at $43,403,063 over the last 90 days. 17.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FTNT has been the topic of a number of analyst reports. Arete Research set a $104.00 price target on Fortinet and gave the company a “buy” rating in a research note on Monday, April 27th. HSBC cut Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price objective for the company. in a research note on Monday, June 29th. BMO Capital Markets increased their target price on Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Monday, May 4th. Bank of America raised their target price on Fortinet from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Finally, Weiss Ratings upgraded Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $107.58.

Fortinet Price Performance

FTNT stock opened at $156.25 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. The stock has a market capitalization of $114.48 billion, a P/E ratio of 60.33, a P/E/G ratio of 4.28 and a beta of 1.09. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $159.80. The business has a 50-day moving average of $130.25 and a 200-day moving average of $98.30.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the business posted $0.58 EPS. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. On average, sell-side analysts anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal 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.