Swiss Life Asset Management Ltd Sells 39,358 Shares of Fortinet, Inc. $FTNT

Swiss Life Asset Management Ltd trimmed its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 21.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,355 shares of the software maker’s stock after selling 39,358 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Fortinet were worth $11,801,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LSV Asset Management acquired a new position in shares of Fortinet during the second quarter worth $25,000. Pinnacle Holdings LLC acquired a new stake in shares of Fortinet during the 3rd quarter valued at $25,000. Financial Consulate Inc. acquired a new stake in shares of Fortinet during the 3rd quarter valued at $25,000. Steigerwald Gordon & Koch Inc. bought a new stake in Fortinet during the 3rd quarter worth $25,000. Finally, Ameriflex Group Inc. bought a new stake in Fortinet during the 3rd quarter worth $25,000. Institutional investors own 83.71% of the company’s stock.

Fortinet Trading Down 2.1%

NASDAQ FTNT opened at $81.40 on Friday. The firm has a market capitalization of $60.23 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 2.87 and a beta of 1.05. The business’s 50-day moving average price is $81.10 and its two-hundred day moving average price is $81.82. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $109.33.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. On average, analysts expect that Fortinet, Inc. will post 2.09 EPS for the current year.

Analysts Set New Price Targets

FTNT has been the subject of several research reports. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $90.00 target price (up from $85.00) on shares of Fortinet in a research report on Friday, February 6th. Jefferies Financial Group set a $90.00 price target on Fortinet in a report on Friday, February 6th. Citigroup reaffirmed a “neutral” rating and issued a $90.00 price objective (up from $85.00) on shares of Fortinet in a research note on Monday, February 9th. Wedbush reiterated an “outperform” rating and issued a $90.00 price objective on shares of Fortinet in a report on Friday, February 6th. Finally, Stifel Nicolaus set a $85.00 target price on shares of Fortinet in a research report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $88.62.

Insider Activity at Fortinet

In other news, VP Michael Xie sold 343,106 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were 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 approximately $831,321,160.44. This represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ken Xie sold 175,737 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the sale, the chief executive officer owned 51,396,385 shares of the company’s stock, valued at approximately $4,184,693,666.70. This trade represents a 0.34% decrease in their ownership of the stock. 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.