HighPoint Advisor Group LLC Cuts Stock Position in Fortinet, Inc. $FTNT

HighPoint Advisor Group LLC trimmed its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 40.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,434 shares of the software maker’s stock after selling 28,381 shares during the period. HighPoint Advisor Group LLC’s holdings in Fortinet were worth $3,568,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in FTNT. LSV Asset Management purchased a new stake in Fortinet during the 2nd quarter valued at approximately $25,000. Financial Consulate Inc. purchased a new position in Fortinet during the third quarter valued at $25,000. Steigerwald Gordon & Koch Inc. bought a new stake in Fortinet in the 3rd quarter valued at $25,000. SJS Investment Consulting Inc. increased its holdings in Fortinet by 1,556.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 381 shares of the software maker’s stock valued at $32,000 after acquiring an additional 358 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in Fortinet by 41.4% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 355 shares of the software maker’s stock worth $38,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Analysts are broadly constructive ahead of Q4 — previews note potential upside vs. consensus driven by recurring revenue strength and AI/data‑center deal momentum, supporting hopes for an earnings beat. Fortinet Q4 2025 earnings preview
• Positive Sentiment: Jefferies expects a modest Q4 beat (which can lift sentiment near-term) even as it stays cautious on FY‑2026 — near-term beat expectations are a bullish catalyst into results. Jefferies Q4 preview
• Positive Sentiment: Rosenblatt and other coverage point to tax incentives and improved sales execution as possible Q4 upside drivers — any upside surprise could re‑rate the shares. Rosenblatt Q4 upside
• Neutral Sentiment: Zacks and Benzinga previews compile guidance/expectations (revenue guidance bands and EPS setup); useful positioning but not an immediate catalyst until Fortinet posts results and forward guidance. Zacks Q4 preview Benzinga preview
• Negative Sentiment: Insider selling: CEO Ken Xie sold 175,737 shares (~$14.3M) and VP Michael Xie sold 343,106 shares (~$27.9M) on Feb. 2 — large insider sales often weigh on sentiment even though insiders still hold sizable stakes. InsiderTrades: Ken Xie sale Michael Xie SEC filing
• Negative Sentiment: Analyst downgrades (including Scotiabank and some firms reassessing 2026 growth) have pressured the stock as investors mark down forward growth expectations. Analyst downgrades Scotiabank downgrade

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FTNT. Weiss Ratings reiterated a “hold (c)” rating on shares of Fortinet in a research report on Monday, December 29th. Jefferies Financial Group reaffirmed a “hold” rating and set a $80.00 price objective on shares of Fortinet in a report on Friday, January 30th. Barclays set a $88.00 target price on shares of Fortinet in a report on Tuesday. Robert W. Baird reduced their price target on shares of Fortinet from $90.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Finally, Daiwa Capital Markets lowered shares of Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price objective for the company. in a research report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $90.48.

Fortinet Stock Up 2.3%

Shares of FTNT opened at $81.12 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. The business has a fifty day moving average of $80.37 and a 200 day moving average of $83.08. The company has a market cap of $60.32 billion, a PE ratio of 33.38, a P/E/G ratio of 2.74 and a beta of 1.06. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $114.82.

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

Insider Activity

In other Fortinet news, CEO Ken Xie sold 175,737 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 51,396,385 shares in the company, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael Xie sold 343,106 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president directly owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. This represents a 3.25% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 17.20% of the company’s stock.

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.