Stephens Inc. AR Sells 20,810 Shares of Fortinet, Inc. $FTNT

Stephens Inc. AR lessened its stake in Fortinet, Inc. (NASDAQ:FTNT) by 59.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,438 shares of the software maker’s stock after selling 20,810 shares during the period. Stephens Inc. AR’s holdings in Fortinet were worth $1,214,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Fortinet by 1.4% during the second quarter. Vanguard Group Inc. now owns 72,686,920 shares of the software maker’s stock valued at $7,684,461,000 after purchasing an additional 1,024,516 shares during the period. State Street Corp raised its holdings in Fortinet by 3.0% during the 2nd quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock valued at $3,085,244,000 after buying an additional 862,468 shares during the last quarter. Geode Capital Management LLC boosted its position in Fortinet by 5.2% during the 2nd quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock valued at $1,783,091,000 after buying an additional 828,569 shares during the period. Norges Bank purchased a new stake in Fortinet during the 2nd quarter valued at $1,640,900,000. Finally, Invesco Ltd. grew its holdings in Fortinet by 7.9% in the 2nd quarter. Invesco Ltd. now owns 9,248,182 shares of the software maker’s stock worth $977,718,000 after acquiring an additional 677,654 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

Fortinet Stock Down 1.2%

Shares of Fortinet stock opened at $75.38 on Monday. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $114.82. The firm has a market cap of $56.06 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 2.63 and a beta of 1.07. The company has a 50-day moving average of $80.65 and a 200 day moving average of $85.18. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 0.94.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data 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 business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the prior year, the company earned $0.63 earnings per share. The business’s revenue was up 14.4% compared to the same quarter last year. 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, sell-side analysts anticipate that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $87.00 target price on shares of Fortinet in a report on Monday, November 24th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $75.00 price objective (down previously from $85.00) on shares of Fortinet in a report on Wednesday, December 17th. Jefferies Financial Group reduced their target price on Fortinet from $85.00 to $80.00 and set a “hold” rating on the stock in a research note on Thursday, November 6th. Piper Sandler restated a “neutral” rating and set a $90.00 target price (up previously from $85.00) on shares of Fortinet in a report on Monday, January 5th. Finally, Daiwa Capital Markets cut shares of Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price target on the stock. in a report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $90.30.

Insider Buying and Selling

In other news, VP Michael Xie sold 3,546 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $86.53, for a total transaction of $306,835.38. Following the completion of the transaction, the vice president directly owned 10,492,018 shares in the company, valued at $907,874,317.54. This trade represents a 0.03% 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. Also, CEO Ken Xie sold 158,485 shares of the company’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 completion of the transaction, the chief executive officer owned 51,391,879 shares in the company, valued at approximately $4,445,911,452.29. The trade was a 0.31% decrease in their position. The disclosure for this sale is available in the SEC filing. 17.20% of the stock is owned by company insiders.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: KeyCorp raised multiple near‑term and full‑year EPS forecasts (Q4 2025–Q4 2026 and FY2025–FY2026), lifting FY2026 to $2.55 and trimming quarterly variance — a direct fundamental tailwind to earnings expectations (no link provided).
• Positive Sentiment: Zacks highlights Fortinet as a “strong growth stock,” emphasizing growth/style scores that may attract momentum and growth-oriented investors. Here’s Why Fortinet (FTNT) is a Strong Growth Stock
• Positive Sentiment: Forbes notes a long‑term bullish trendline and a sectorwide tailwind from semiconductor earnings (TSM) that could help FTNT break out of recent consolidation — a technical catalyst for a recovery move. Long-Term Bullish Trendline Could Help Fortinet Stock Break Out
• Neutral Sentiment: InsiderMonkey summarizes recent analyst activity: RBC reiterated a Hold (PT $85) while Piper Sandler adjusted its target — useful context but not a clear directional driver. Here’s What Analysts Think About Fortinet (FTNT)
• Neutral Sentiment: UBS issued a Hold on FTNT — a conservative stance that keeps shares range‑bound unless upgraded. Fortinet (FTNT) Gets a Hold from UBS
• Neutral Sentiment: Globe and Mail ran an analyst roundup on Fortinet — additional commentary but no single decisive call. Analysts Offer Insights on Technology Companies: Fortinet (FTNT) and Veritone (VERI)
• Negative Sentiment: J.P. Morgan maintained a Sell rating, citing elevated memory costs and margin risk and keeping a $75 price target — a notable bearish view that pressures sentiment and could limit upside. Fortinet Downgraded: Elevated Memory Costs and Margin Risk Drive Sustained Sell Rating
• Negative Sentiment: Recent market commentary notes FTNT has declined more than the market in recent sessions and remains materially below its 50/200‑day moving averages, underscoring near‑term technical weakness. Fortinet (FTNT) Declines More Than Market: Some Information for Investors

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.