Fortinet, Inc. $FTNT Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in Fortinet, Inc. (NASDAQ:FTNT) by 45.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 354,523 shares of the software maker’s stock after selling 294,082 shares during the period. Envestnet Asset Management Inc.’s holdings in Fortinet were worth $29,808,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FTNT. LSV Asset Management purchased a new position in Fortinet during the second quarter valued at $25,000. Financial Consulate Inc. purchased a new position in Fortinet during the third quarter worth approximately $25,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Fortinet during the 3rd quarter valued at about $25,000. Quaker Wealth Management LLC grew its stake in shares of 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 buying an additional 726 shares during the period. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Fortinet in the second quarter worth approximately $40,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Transactions at Fortinet

In related news, VP Michael Xie sold 343,106 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the sale, the vice president 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ken Xie sold 175,737 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 transaction of $14,308,506.54. Following the sale, the chief executive officer directly owned 51,396,385 shares in the company, valued at $4,184,693,666.70. This represents a 0.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 17.20% of the company’s stock.

Fortinet Stock Performance

NASDAQ:FTNT opened at $84.26 on Friday. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two 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 stock has a market cap of $62.66 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 3.03 and a beta of 1.06. The firm’s fifty day simple moving average is $80.59 and its 200-day simple moving average is $82.35.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on FTNT. Barclays set a $88.00 price target on shares of Fortinet in a research report on Tuesday, February 3rd. BMO Capital Markets increased their price target on Fortinet from $90.00 to $95.00 and gave the company a “market perform” rating in a research report on Monday. Robert W. Baird set a $90.00 target price on shares of Fortinet in a research note on Friday, February 6th. TD Cowen raised Fortinet from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a report on Friday, January 23rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Fortinet in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $89.07.

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.