Fortinet, Inc. $FTNT Shares Sold by Huntington National Bank

Huntington National Bank lowered its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 33.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,578 shares of the software maker’s stock after selling 5,325 shares during the period. Huntington National Bank’s holdings in Fortinet were worth $840,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Pinnacle Holdings LLC acquired a new stake in Fortinet during the 3rd quarter worth $25,000. Ameriflex Group Inc. acquired a new stake in Fortinet during the 3rd quarter worth $25,000. Wexford Capital LP purchased a new position in Fortinet during the 3rd quarter worth $25,000. Palisade Asset Management LLC purchased a new position in Fortinet during the 3rd quarter worth $28,000. Finally, Elyxium Wealth LLC purchased a new position in Fortinet during the 4th quarter worth $27,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Stock Performance

Shares of FTNT opened at $137.97 on Friday. The company has a 50-day simple moving average of $96.96 and a 200-day simple moving average of $86.62. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $101.08 billion, a PE ratio of 53.27, a P/E/G ratio of 3.57 and a beta of 0.92. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $138.11.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business’s revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Equities research analysts predict that Fortinet, Inc. will post 2.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Compass Point set a $100.00 price objective on shares of Fortinet in a research report on Monday, May 4th. Mizuho upped their price objective on shares of Fortinet from $70.00 to $86.00 and gave the stock an “underperform” rating in a research report on Thursday, May 7th. Zacks Research upgraded shares of Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 14th. Wells Fargo & Company restated an “underweight” rating and set a $70.00 price objective (up from $64.00) on shares of Fortinet in a research report on Thursday, May 7th. Finally, Jefferies Financial Group set a $90.00 price objective on shares of Fortinet in a research report on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Fortinet has an average rating of “Hold” and an average target price of $102.69.

Insider Activity

In other news, CEO Ken Xie sold 5,355 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $88.90, for a total value of $476,059.50. Following the completion of the transaction, the chief executive officer owned 52,978,004 shares in the company, valued at $4,709,744,555.60. This trade represents a 0.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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, VP Michael Xie sold 2,478 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $88.89, for a total transaction of $220,269.42. Following the completion of the transaction, the vice president owned 9,927,517 shares of the company’s stock, valued at $882,456,986.13. This represents a 0.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold 153,848 shares of company stock worth $19,446,115 in the last 90 days. 17.60% of the stock is currently owned by corporate insiders.

Fortinet 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.