New York State Teachers Retirement System Cuts Stock Holdings in Fortinet, Inc. $FTNT

New York State Teachers Retirement System reduced its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 10.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 533,420 shares of the software maker’s stock after selling 61,401 shares during the quarter. New York State Teachers Retirement System’s holdings in Fortinet were worth $43,591,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Ameriflex Group Inc. purchased a new stake in Fortinet during the 3rd quarter valued at about $25,000. Wexford Capital LP bought a new position in Fortinet during the 3rd quarter worth approximately $25,000. Physician Wealth Advisors Inc. increased its stake in Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after purchasing an additional 245 shares during the period. Palisade Asset Management LLC purchased a new position in Fortinet in the 3rd quarter worth approximately $28,000. Finally, Elyxium Wealth LLC bought a new stake in Fortinet in the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Price Performance

Shares of FTNT stock opened at $156.25 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $159.80. The firm has a market cap 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. The business’s 50 day moving average price is $130.25 and its 200-day moving average price is $98.18.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company earned $0.58 earnings per share. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. 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, equities research analysts anticipate that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Insider Buying and Selling at Fortinet

In other Fortinet news, COO John Whittle sold 146,015 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the transaction, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the sale, the vice president directly owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 price objective on shares of Fortinet in a research note on Tuesday, April 21st. Scotiabank upped their price target on shares of Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Truist Financial set a $120.00 price target on shares of Fortinet and gave the company a “buy” rating in a research report on Thursday, May 7th. HSBC lowered shares of Fortinet from a “hold” rating to a “reduce” rating and set a $102.00 price target on the stock. in a report on Monday. Finally, Mizuho boosted their price objective on shares of Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $107.58.

Fortinet Company 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.