Pallas Capital Advisors LLC Sells 23,257 Shares of Fortinet, Inc. $FTNT

Pallas Capital Advisors LLC lowered its position in Fortinet, Inc. (NASDAQ:FTNT) by 65.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,506 shares of the software maker’s stock after selling 23,257 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Fortinet were worth $1,052,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FTNT. LSV Asset Management purchased a new position in shares of Fortinet during the second quarter valued at approximately $25,000. Financial Consulate Inc. bought a new stake in shares of Fortinet during the 3rd quarter worth approximately $25,000. Steigerwald Gordon & Koch Inc. purchased a new position in Fortinet during the 3rd quarter valued at $25,000. SJS Investment Consulting Inc. boosted its holdings in Fortinet by 1,556.5% during 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 period. Finally, Quaker Wealth Management LLC grew its position in Fortinet by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 363 shares of the software maker’s stock valued at $38,000 after acquiring an additional 726 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Insider Transactions at Fortinet

In other news, VP Michael Xie sold 343,106 shares of Fortinet 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 owned 10,210,282 shares of the company’s stock, valued at $831,321,160.44. The trade was a 3.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ken Xie sold 175,737 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 18.00% of the company’s stock.

Fortinet Stock Performance

Shares of FTNT stock opened at $81.69 on Wednesday. The firm has a market cap of $60.75 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 2.95 and a beta of 1.06. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $114.82. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $80.56 and its 200 day moving average is $81.71.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The business had revenue of $1.91 billion for 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 business’s revenue was up 14.8% compared to the same quarter last year. During the same period last year, the business posted $0.74 EPS. 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, sell-side analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Mizuho lifted their target price on Fortinet from $72.00 to $74.00 and gave the stock an “underperform” rating in a research report on Friday, February 6th. Evercore set a $80.00 price objective on shares of Fortinet in a report on Friday, February 6th. HSBC downgraded shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $90.00 target price (up from $85.00) on shares of Fortinet in a research report on Friday, February 6th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price target on shares of Fortinet in a report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $89.42.

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.