Truist Financial Corp Has $2.54 Million Holdings in Fortinet, Inc. $FTNT

Truist Financial Corp trimmed its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 32.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,172 shares of the software maker’s stock after selling 14,395 shares during the period. Truist Financial Corp’s holdings in Fortinet were worth $2,537,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Novare Capital Management LLC increased its stake in shares of Fortinet by 108.0% in the third quarter. Novare Capital Management LLC now owns 5,407 shares of the software maker’s stock valued at $455,000 after buying an additional 2,807 shares in the last quarter. J. Safra Sarasin Holding AG grew its holdings in Fortinet by 38.5% during the 3rd quarter. J. Safra Sarasin Holding AG now owns 394,742 shares of the software maker’s stock worth $33,190,000 after acquiring an additional 109,641 shares during the last quarter. Phoenix Financial Ltd. increased its position in Fortinet by 34.2% in the 3rd quarter. Phoenix Financial Ltd. now owns 4,218 shares of the software maker’s stock valued at $355,000 after acquiring an additional 1,075 shares in the last quarter. Barlow Wealth Partners Inc. increased its position in Fortinet by 3.0% in the 3rd quarter. Barlow Wealth Partners Inc. now owns 183,962 shares of the software maker’s stock valued at $15,574,000 after acquiring an additional 5,278 shares in the last quarter. Finally, Belpointe Asset Management LLC raised its stake in shares of Fortinet by 43.0% in the third quarter. Belpointe Asset Management LLC now owns 12,373 shares of the software maker’s stock worth $1,040,000 after acquiring an additional 3,718 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q4 beat and raised full‑year guidance — Fortinet reported Q4 revenue of $1.91B and EPS of $0.81 (above estimates) and issued FY‑2026 EPS guidance ahead of consensus; management highlighted strong enterprise demand. Read More.
• Positive Sentiment: Billings, product growth and Unified SASE strength — Billings rose ~18% (Unified SASE billings up ~40%) and product revenue grew double digits, underpinning revenue momentum. Read More.
• Positive Sentiment: Buyback expanded — company increased its buyback program by $1B to roughly $10.25B through Feb 2027, a shareholder‑friendly move that supports the stock. Read More.
• Positive Sentiment: Some bullish analyst action — Rosenblatt raised its target to $105 (buy), and Wedbush reaffirmed an outperform with a $90 target, giving upside voices amid mixed comments. Read More. • Read More.
• Neutral Sentiment: Primary disclosures and management commentary — full earnings call transcript and presentation are available for deeper read on cloud/SASE strategy and guidance detail. Read More. • Read More.
• Negative Sentiment: Analyst caution still present — JPMorgan and Mizuho raised price targets slightly but kept underweight/outperform/underperform stances that imply limited near‑term upside from some shops; Jefferies also remains cautious on 2026. Read More. • Read More. • Read More.
• Negative Sentiment: Insider selling — filings show large sales by the CEO and a VP, which may raise short‑term governance/flow concerns for some investors. Read More. • Read More.
• Neutral Sentiment: Street positioning mixed — some firms (Robert W. Baird, others) keep holds or reiterate neutral stances citing product strength offset by services slowdown or limited near‑term upside. Read More.

Insider Buying and Selling at Fortinet

In other news, CEO Ken Xie sold 175,737 shares of Fortinet stock in a transaction 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 transaction, the chief executive officer directly owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. This trade represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael Xie sold 343,106 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the completion of the sale, the vice president owned 10,210,282 shares of the company’s stock, valued at approximately $831,321,160.44. This represents a 3.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 17.20% of the company’s stock.

Fortinet Trading Up 4.9%

NASDAQ FTNT opened at $82.76 on Friday. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $114.82. The stock has a 50-day simple moving average of $80.37 and a 200 day simple moving average of $82.88. The company has a current ratio of 1.03, a quick ratio of 0.94 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $61.54 billion, a PE ratio of 34.06, a P/E/G ratio of 2.73 and a beta of 1.06.

Fortinet (NASDAQ:FTNT) last posted its earnings results 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. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a return on equity of 117.39% and a net margin of 27.26%.The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company earned $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. Research analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on FTNT. Daiwa Securities Group lowered shares of Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price target for the company. in a report on Wednesday, November 12th. Evercore ISI set a $80.00 price objective on Fortinet in a research report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Fortinet in a research report on Monday, December 29th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 price target on shares of Fortinet in a report on Monday, November 24th. Finally, Robert W. Baird set a $90.00 price objective on Fortinet in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-three have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Fortinet presently has a consensus rating of “Hold” and an average price target of $89.46.

Fortinet Company 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.