Banco Bilbao Vizcaya Argentaria S.A. Lowers Stock Holdings in Fortinet, Inc. $FTNT

Banco Bilbao Vizcaya Argentaria S.A. reduced its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 244,616 shares of the software maker’s stock after selling 7,792 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Fortinet were worth $20,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. LSV Asset Management acquired a new stake in Fortinet in the 2nd quarter worth about $25,000. Financial Consulate Inc. acquired a new position in shares of Fortinet during the 3rd quarter valued at about $25,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Fortinet during the 3rd quarter worth about $25,000. Pinnacle Holdings LLC purchased a new position in shares of Fortinet during the 3rd quarter worth about $25,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Fortinet in the third quarter worth approximately $25,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet unveiled FortiOS 8.0 with AI‑aware controls, quantum‑safe cryptography and sovereign SASE options, a product push that supports upsell into SecOps, SASE and AI security—positive for revenue mix and differentiation. Fortinet FortiOS 8.0 Targets AI Security And Quantum Ready Growth
• Positive Sentiment: Channel momentum highlighted as Liquid Networx won two Fortinet partner awards (Engage Preferred Services Partner and Unified SASE Partner of the Year), underscoring partner execution and potential services growth. Liquid Networx Wins Two Partner of the Year Awards at Fortinet Accelerate 2026
• Neutral Sentiment: Analyst commentary pieces provide context but no consensus upgrade — coverage includes broad insights on Fortinet alongside peers, offering mixed takeaways for investors. Analysts Offer Insights on Technology Companies: Fortinet (FTNT) and Atlassian (TEAM)
• Neutral Sentiment: Intraday swings were notable — the shares traded up in some sessions before closing lower, reflecting short‑term profit taking and rotation within the software/security group. Fortinet (FTNT) Advances While Market Declines: Some Information for Investors
• Negative Sentiment: Barclays moved coverage to a Hold, and Wells Fargo maintained a Sell—mixed-to‑negative analyst positioning is pressuring sentiment and can limit near‑term upside. Fortinet (FTNT) Gets a Hold from Barclays Wells Fargo Keeps Their Sell Rating on Fortinet (FTNT)
• Negative Sentiment: News roundups note that Fortinet fell more than the broader market in recent sessions—coverage points to analyst pressure and sector rotation as reasons for the pullback. Here’s Why Fortinet (FTNT) Fell More Than Broader Market

Analyst Upgrades and Downgrades

FTNT has been the subject of a number of recent analyst reports. Wedbush restated an “outperform” rating and issued a $90.00 target price on shares of Fortinet in a report on Friday, February 6th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $90.00 price target (up from $85.00) on shares of Fortinet in a report on Friday, February 6th. Evercore set a $80.00 price objective on shares of Fortinet in a research note on Friday, February 6th. Mizuho upped their price objective on Fortinet from $72.00 to $74.00 and gave the stock an “underperform” rating in a report on Friday, February 6th. Finally, Barclays set a $88.00 target price on Fortinet in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $88.62.

Fortinet Trading Down 1.1%

Shares of FTNT stock opened at $83.44 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $109.33. The firm’s 50 day moving average price is $80.66 and its two-hundred day moving average price is $81.71. The stock has a market cap of $61.74 billion, a price-to-earnings ratio of 34.34, a price-to-earnings-growth ratio of 2.88 and a beta of 1.05.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.07. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. 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 anticipate that Fortinet, Inc. will post 2.09 EPS for the current year.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 343,106 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was 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 of the company’s stock, valued at $831,321,160.44. This trade represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ken Xie sold 175,737 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $14,308,506.54. Following the completion of 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. The disclosure for this sale is available in the SEC filing. 18.00% of the stock is currently owned by corporate insiders.

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.