Saturna Capital Corp Cuts Stake in Fortinet, Inc. $FTNT

Saturna Capital Corp reduced its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 33.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,625 shares of the software maker’s stock after selling 6,709 shares during the period. Saturna Capital Corp’s holdings in Fortinet were worth $1,082,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Pinnacle Holdings LLC purchased a new stake in Fortinet during the 3rd quarter worth approximately $25,000. Ameriflex Group Inc. acquired a new position in Fortinet during the 3rd quarter worth approximately $25,000. Wexford Capital LP acquired a new position in Fortinet during the 3rd quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new position in Fortinet during the 3rd quarter worth approximately $28,000. Finally, Elyxium Wealth LLC acquired a new position in Fortinet during the 4th quarter worth approximately $27,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fortinet

In related news, COO John Whittle sold 146,015 shares of the 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 transaction, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at $12,163,508.84. This trade represents a 60.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael Xie sold 3,907 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the transaction, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 318,387 shares of company stock valued at $43,403,063 in the last ninety days. Insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FTNT shares. BTIG Research boosted their price target on shares of Fortinet from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. boosted their price target on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Citigroup boosted their price target on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Bank of America boosted their price target on shares of Fortinet from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Monday. Finally, Arete Research set a $104.00 price target on shares of Fortinet and gave the stock a “buy” rating in a report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $106.43.

Fortinet Trading Up 0.4%

NASDAQ FTNT opened at $138.88 on Thursday. 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 firm’s fifty day moving average price is $107.23 and its 200 day moving average price is $90.23. The company has a market capitalization of $101.75 billion, a price-to-earnings ratio of 53.62, a price-to-earnings-growth ratio of 3.79 and a beta of 1.11. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $150.07.

Fortinet (NASDAQ:FTNT) last posted 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. The firm had revenue of $1.85 billion for 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 company’s revenue was up 20.1% on a year-over-year basis. During the same period 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. On average, sell-side analysts expect that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal year.

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.