Exchange Traded Concepts LLC Sells 12,612 Shares of Fortinet, Inc. $FTNT

Exchange Traded Concepts LLC cut its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 76.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,830 shares of the software maker’s stock after selling 12,612 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Fortinet were worth $304,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Allstate Corp acquired a new position in shares of Fortinet during the third quarter worth approximately $2,034,000. Asset Management One Co. Ltd. increased its holdings in shares of Fortinet by 4.7% in the third quarter. Asset Management One Co. Ltd. now owns 402,278 shares of the software maker’s stock valued at $33,824,000 after purchasing an additional 17,892 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Fortinet by 465.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 756,651 shares of the software maker’s stock valued at $64,255,000 after purchasing an additional 622,809 shares in the last quarter. Machina Capital S.A.S. bought a new position in Fortinet in the 3rd quarter worth approximately $1,177,000. Finally, Victory Capital Management Inc. raised its position in Fortinet by 5.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,651,683 shares of the software maker’s stock worth $138,874,000 after purchasing an additional 90,284 shares during the last quarter. 83.71% of the stock is owned by institutional investors.

Fortinet Price Performance

Fortinet stock opened at $82.53 on Monday. The firm has a market capitalization of $61.07 billion, a price-to-earnings ratio of 33.96, a PEG ratio of 2.85 and a beta of 1.00. The company’s 50 day simple moving average is $81.83 and its 200 day simple moving average is $81.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $109.33.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.74 by $0.07. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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. As a group, sell-side analysts anticipate that Fortinet, Inc. will post 2.09 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Ken Xie sold 175,737 shares of the firm’s stock in a transaction on 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 owned 51,396,385 shares of the company’s stock, valued at approximately $4,184,693,666.70. This trade represents a 0.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 value of $27,935,690.52. Following the transaction, the vice president owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. This represents a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on FTNT. Stifel Nicolaus set a $85.00 price objective on Fortinet in a research report on Wednesday, March 11th. Piper Sandler restated a “neutral” rating and set a $90.00 target price (up from $85.00) on shares of Fortinet in a research report on Monday, January 5th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $83.00 price target on shares of Fortinet in a research note 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. Finally, BMO Capital Markets boosted their price objective on Fortinet from $90.00 to $95.00 and gave the stock a “market perform” rating in a report on Monday, February 9th. Five analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $87.84.

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.