Ken Xie Sells 175,737 Shares of Fortinet (NASDAQ:FTNT) Stock

Fortinet, Inc. (NASDAQ:FTNT) CEO Ken Xie sold 175,737 shares of the stock in a transaction dated Monday, February 2nd. The shares were 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 directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this link.

Fortinet Stock Performance

FTNT opened at $81.12 on Thursday. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $114.82. The stock has a market cap of $60.32 billion, a P/E ratio of 33.38, a P/E/G ratio of 2.74 and a beta of 1.06. The stock’s 50 day simple moving average is $80.37 and its 200 day simple moving average is $83.08. 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 issued its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.11. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.Fortinet’s revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share. As a group, equities analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Institutional Trading of Fortinet

A number of hedge funds have recently bought and sold shares of the company. LSV Asset Management purchased a new stake in Fortinet in the 2nd quarter worth approximately $25,000. Financial Consulate Inc. acquired a new stake in shares of Fortinet during the third quarter worth $25,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Fortinet during the third quarter worth $25,000. Pinnacle Holdings LLC purchased a new stake in shares of Fortinet in the third quarter valued at $25,000. Finally, Ameriflex Group Inc. acquired a new position in Fortinet in the third quarter valued at $25,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FTNT shares. Oppenheimer reissued a “market perform” rating on shares of Fortinet in a research note on Friday, January 23rd. Daiwa Capital Markets downgraded 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. TD Cowen raised shares of Fortinet from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Friday, January 23rd. Hsbc Global Res downgraded Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Finally, Robert W. Baird reduced their target price on Fortinet from $90.00 to $86.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $90.48.

Fortinet News Summary

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

About Fortinet

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.