Fortinet (NASDAQ:FTNT) VP Michael Xie Sells 343,106 Shares of Stock

Fortinet, Inc. (NASDAQ:FTNT) VP Michael Xie sold 343,106 shares of Fortinet 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 sale, the vice president directly owned 10,210,282 shares of the company’s stock, valued at $831,321,160.44. This trade represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Fortinet Trading Down 2.4%

FTNT opened at $79.30 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.94 and a current ratio of 1.03. Fortinet, Inc. has a one year low of $70.12 and a one year high of $114.82. The company has a market cap of $58.97 billion, a P/E ratio of 32.63, a PEG ratio of 2.83 and a beta of 1.06. The business’s 50-day simple moving average is $80.36 and its 200-day simple moving average is $83.09.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 earnings per share. As a group, equities research analysts expect that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Rosenblatt flagged potential Q4 upside from tax incentives and improved sales execution, suggesting earnings could beat expectations and provide support. Rosenblatt Q4 Upside
• Positive Sentiment: Market coverage noting Fortinet’s upgrade and resilient ARR growth as signs that the cybersecurity group may be finding support ahead of earnings — a constructive signal for investors focused on recurring revenue and AI-related deals. MarketBeat: CrowdStrike & Fortinet Context
• Neutral Sentiment: Zacks previews Q4 and highlights expected revenue guidance of $1.825–$1.885B and steady EPS, noting AI data-center deals could shape results — useful context but not a direct catalyst until results/guidance are confirmed. Zacks Q4 Preview
• Neutral Sentiment: Another Zacks piece compiles Wall Street estimates for key metrics ahead of the quarter — important for positioning but not an immediate price driver. Zacks Estimates
• Neutral Sentiment: The published short-interest data is effectively zero/ambiguous and does not appear to be a meaningful near-term pressure point. (No actionable short squeeze signal.)
• Negative Sentiment: Insider selling: VP Michael Xie sold 343,106 shares (~$27.9M at ~$81.42) and CEO Ken Xie sold 175,737 shares (~$14.3M), reducing their holdings modestly — large insider sales often weigh on sentiment even when insiders retain sizeable positions. Michael Xie SEC Filing Ken Xie SEC Filing
• Negative Sentiment: Analyst downgrades and reassessments of 2026 growth (including a Scotiabank downgrade) have pressured shares as investors mark down forward growth expectations; coverage notes led to a near-term slip in the stock. Scotiabank Downgrade Analyst Reassessment
• Negative Sentiment: Market write-ups (e.g., Seeking Alpha) note the stock slipped after the Scotiabank downgrade, reflecting immediate market reaction to the weaker outlook. Seeking Alpha: Slip After Downgrade

Wall Street Analyst Weigh In

FTNT has been the subject of several research analyst reports. Royal Bank Of Canada decreased their price objective on shares of Fortinet from $95.00 to $85.00 and set a “sector perform” rating for the company in a research note on Thursday, November 6th. Daiwa Capital Markets downgraded Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 target price for the company. in a report on Wednesday, November 12th. Weiss Ratings restated a “hold (c)” rating on shares of Fortinet in a research note on Monday, December 29th. Robert W. Baird reduced their price objective 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, TD Cowen upgraded shares of Fortinet from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Friday, January 23rd. One 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $90.48.

Hedge Funds Weigh In On Fortinet

A number of large investors have recently bought and sold shares of the company. LSV Asset Management acquired a new position in shares of Fortinet during the second quarter worth about $25,000. Pinnacle Holdings LLC purchased a new stake in Fortinet in the 3rd quarter valued at approximately $25,000. Financial Consulate Inc. purchased a new stake in Fortinet in the 3rd quarter valued at approximately $25,000. Steigerwald Gordon & Koch Inc. acquired a new position in Fortinet during the 3rd quarter worth approximately $25,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Fortinet during the 3rd quarter worth approximately $25,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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.