Assetmark Inc. Decreases Stake in Fortinet, Inc. $FTNT

Assetmark Inc. cut its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 76.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,395 shares of the software maker’s stock after selling 89,368 shares during the quarter. Assetmark Inc.’s holdings in Fortinet were worth $2,239,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FTNT. Optimist Retirement Group LLC boosted its holdings in Fortinet by 2.5% during the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock worth $398,000 after buying an additional 122 shares in the last quarter. PDS Planning Inc increased its holdings in Fortinet by 3.1% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock valued at $326,000 after buying an additional 123 shares in the last quarter. GW&K Investment Management LLC increased its holdings in Fortinet by 31.4% in the fourth quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock valued at $41,000 after buying an additional 123 shares in the last quarter. Delta Investment Management LLC lifted its position in shares of Fortinet by 2.4% during the 4th quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock valued at $417,000 after acquiring an additional 125 shares during the period. Finally, Personal CFO Solutions LLC lifted its position in shares of Fortinet by 5.0% during the 1st quarter. Personal CFO Solutions LLC now owns 2,670 shares of the software maker’s stock valued at $218,000 after acquiring an additional 127 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling

In other news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the transaction, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 318,387 shares of company stock worth $43,403,063. Insiders own 17.60% of the company’s stock.

Analyst Ratings Changes

FTNT has been the topic of a number of research reports. UBS Group upped their price target on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Piper Sandler lifted their price objective on Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Truist Financial set a $183.00 target price on Fortinet and gave the stock a “buy” rating in a research report on Tuesday. Zacks Research upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Finally, DZ Bank cut Fortinet from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a report on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-four have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Fortinet has an average rating of “Hold” and a consensus price target of $123.61.

Fortinet Stock Down 2.3%

Shares of NASDAQ:FTNT opened at $151.54 on Friday. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $170.35. The stock has a 50-day simple moving average of $147.43 and a 200-day simple moving average of $106.13. The stock has a market capitalization of $111.03 billion, a P/E ratio of 58.51, a PEG ratio of 4.22 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Equities analysts forecast that Fortinet, Inc. will post 2.8 earnings per share for the current year.

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.