GF Fund Management CO. LTD. Sells 91,528 Shares of Fortinet, Inc. $FTNT

GF Fund Management CO. LTD. decreased its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 37.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 152,442 shares of the software maker’s stock after selling 91,528 shares during the period. GF Fund Management CO. LTD.’s holdings in Fortinet were worth $12,817,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Balboa Wealth Partners lifted its holdings in shares of Fortinet by 4.3% during the 2nd quarter. Balboa Wealth Partners now owns 2,330 shares of the software maker’s stock valued at $246,000 after purchasing an additional 96 shares during the last quarter. GPS Wealth Strategies Group LLC increased its position in Fortinet by 3.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,391 shares of the software maker’s stock valued at $358,000 after buying an additional 108 shares in the last quarter. Huntington National Bank increased its position in Fortinet by 0.7% during the 2nd quarter. Huntington National Bank now owns 16,596 shares of the software maker’s stock valued at $1,755,000 after buying an additional 112 shares in the last quarter. CVA Family Office LLC raised its stake in Fortinet by 12.1% in the second quarter. CVA Family Office LLC now owns 1,201 shares of the software maker’s stock valued at $127,000 after buying an additional 130 shares during the last quarter. Finally, L2 Asset Management LLC boosted its holdings in Fortinet by 5.1% in the second quarter. L2 Asset Management LLC now owns 2,847 shares of the software maker’s stock worth $301,000 after acquiring an additional 137 shares in the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Price Performance

NASDAQ:FTNT opened at $85.56 on Friday. The firm’s fifty day moving average is $80.56 and its two-hundred day moving average is $82.06. The firm has a market cap of $63.63 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 2.95 and a beta of 1.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17. Fortinet, Inc. has a one year low of $70.12 and a one year high of $114.82.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data 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. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. 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 expect that Fortinet, Inc. will post 2.09 EPS for the current year.

Insider Activity at Fortinet

In related news, VP Michael Xie sold 343,106 shares of the firm’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 sale, the vice president owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. This trade represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chief executive officer directly owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 17.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FTNT shares. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Fortinet in a research report on Friday, February 6th. Jefferies Financial Group set a $90.00 price target on shares of Fortinet in a report on Friday, February 6th. JPMorgan Chase & Co. lifted their price objective on shares of Fortinet from $72.00 to $73.00 and gave the stock an “underweight” rating in a research note on Friday, February 6th. Rosenblatt Securities upped their target price on Fortinet from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $70.00 price target (up previously from $66.00) on shares of Fortinet in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.