California Public Employees Retirement System Sells 533,794 Shares of Fortinet, Inc. $FTNT

California Public Employees Retirement System lowered its position in Fortinet, Inc. (NASDAQ:FTNT) by 24.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,608,359 shares of the software maker’s stock after selling 533,794 shares during the period. California Public Employees Retirement System owned about 0.22% of Fortinet worth $135,231,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Cantor Fitzgerald L. P. bought a new stake in Fortinet in the 3rd quarter worth about $909,000. Bank of Nova Scotia lifted its position in shares of Fortinet by 47.9% during the 3rd quarter. Bank of Nova Scotia now owns 368,541 shares of the software maker’s stock worth $30,987,000 after buying an additional 119,415 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Fortinet by 23.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,160,348 shares of the software maker’s stock worth $430,082,000 after buying an additional 969,899 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of Fortinet in the 3rd quarter worth approximately $1,376,000. Finally, Warther Private Wealth LLC grew its holdings in shares of Fortinet by 33.3% in the third quarter. Warther Private Wealth LLC now owns 242,835 shares of the software maker’s stock valued at $20,418,000 after acquiring an additional 60,675 shares in the last quarter. 83.71% of the stock is owned by institutional investors.

Insider Transactions at Fortinet

In other Fortinet news, CEO Ken Xie sold 175,737 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 51,396,385 shares in the company, 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 Securities & Exchange Commission, which is available through this link. Also, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction dated 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 completion of 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 18.00% of the company’s stock.

Analyst Ratings Changes

FTNT has been the topic of a number of recent analyst reports. Mizuho lifted their price target on Fortinet from $72.00 to $74.00 and gave the stock an “underperform” rating in a report on Friday, February 6th. Wedbush restated an “outperform” rating and issued a $90.00 price objective on shares of Fortinet in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fortinet in a research report on Monday, December 29th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Fortinet in a research note on Thursday. Finally, Piper Sandler reissued a “neutral” rating and issued a $90.00 price target (up from $85.00) on shares of Fortinet in a report on Monday, January 5th. One 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortinet currently has an average rating of “Hold” and an average target price of $88.62.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $83.44 on Monday. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The stock has a fifty day simple moving average of $80.66 and a two-hundred day simple moving average of $81.71. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $109.33. The firm 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 issued its earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.07. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share. 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 anticipate that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Trending Headlines about Fortinet

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

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.