Fortinet, Inc. $FTNT Shares Sold by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. decreased its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 92.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,684 shares of the software maker’s stock after selling 148,537 shares during the period. Symphony Financial Ltd. Co.’s holdings in Fortinet were worth $984,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of FTNT. LSV Asset Management purchased a new position in shares of Fortinet in the 2nd quarter valued at $25,000. Financial Consulate Inc. purchased a new stake in shares of Fortinet during the 3rd quarter worth approximately $25,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Fortinet in the 3rd quarter worth approximately $25,000. SJS Investment Consulting Inc. raised its holdings in Fortinet by 1,556.5% during the third quarter. SJS Investment Consulting Inc. now owns 381 shares of the software maker’s stock worth $32,000 after purchasing an additional 358 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. boosted its position in Fortinet by 41.4% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 355 shares of the software maker’s stock worth $38,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Analyst Ratings Changes

FTNT has been the topic of several analyst reports. Citigroup reaffirmed a “neutral” rating and set a $85.00 price target (up from $83.00) on shares of Fortinet in a research note on Monday, January 12th. Oppenheimer reaffirmed a “market perform” rating on shares of Fortinet in a research note on Friday. Royal Bank Of Canada decreased their price objective on Fortinet from $95.00 to $85.00 and set a “sector perform” rating on the stock in a report on Thursday, November 6th. Robert W. Baird dropped their target price on Fortinet from $90.00 to $86.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Finally, Piper Sandler restated a “neutral” rating and issued a $90.00 price target (up previously from $85.00) on shares of Fortinet in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Fortinet has an average rating of “Hold” and an average price target of $90.04.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: TD Cowen upgraded Fortinet to Buy and set a $100 price target, arguing AI risks are overstated and forecasting stronger billings into 2026 — this is the principal catalyst for today’s rally. Fortinet Is Top S&P 500 Stock After Upgrade. Don’t Worry About ‘AI Eating Software.
• Positive Sentiment: TD Cowen’s upgrade was backed by “solid checks” from the field, per reports, giving the call more credibility and suggesting demand/billings data corroborate the upbeat view. Fortinet in focus as TD Cowen upgrades on back of ‘solid checks’
• Positive Sentiment: Multiple outlets note a five‑star analyst upgrade to Buy (TipRanks/Benzinga coverage), lifting investor attention and trading volume — momentum and analyst conviction are reinforcing the move. Fortinet Stock (FTNT) Surges after Five-Star Analyst Upgrades to Buy Rating
• Positive Sentiment: Coverage summaries and quick news pieces (e.g., Benzinga/Yahoo) are amplifying the upgrade narrative, attracting short-term traders and contributing to above-average volume. Tesla removes Autopilot software, Fortinet upgraded to Buy
• Neutral Sentiment: Fortinet is appearing among intraday Nasdaq gainers and tech/AI rotation lists — helpful context for momentum but not a fundamental change. Live Nasdaq Composite: Market Mettle Tested in Whipsaw Week
• Neutral Sentiment: Industry/ETF commentary highlights Fortinet’s role in cloud and security ETFs — may attract passive inflows over time but is not an immediate catalyst. Fortinet (NASDAQ:FTNT) Nasdaq Composite ETF Cloud Security Reach

Fortinet Price Performance

Fortinet stock opened at $81.64 on Friday. The firm has a fifty day moving average of $80.14 and a 200-day moving average of $84.48. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $114.82. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $60.71 billion, a P/E ratio of 33.60, a PEG ratio of 2.71 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the prior year, the company earned $0.63 EPS. The firm’s revenue was up 14.4% on a year-over-year basis. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. As a group, analysts predict that Fortinet, Inc. will post 2.09 EPS for the current year.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 158,485 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $86.51, for a total transaction of $13,710,537.35. Following the sale, the chief executive officer directly owned 51,391,879 shares in the company, valued at approximately $4,445,911,452.29. This trade represents a 0.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael Xie sold 3,546 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $86.53, for a total value of $306,835.38. Following the completion of the transaction, the vice president owned 10,492,018 shares of the company’s stock, valued at approximately $907,874,317.54. This represents a 0.03% decrease in their position. The SEC filing for this sale provides additional information. 17.20% of the stock is currently owned by company 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.