JT Stratford LLC Raises Holdings in Fortinet, Inc. $FTNT

JT Stratford LLC lifted its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 589.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,052 shares of the software maker’s stock after buying an additional 21,419 shares during the quarter. JT Stratford LLC’s holdings in Fortinet were worth $2,106,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FTNT. LSV Asset Management acquired a new stake in Fortinet in the second quarter valued at $25,000. Pinnacle Holdings LLC acquired a new position in shares of Fortinet during the 3rd quarter worth $25,000. Financial Consulate Inc. purchased a new position in shares of Fortinet in the 3rd quarter valued at about $25,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Fortinet in the third quarter valued at about $25,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Fortinet in the second quarter valued at about $40,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Activity

In other Fortinet news, VP Michael Xie sold 343,106 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $27,935,690.52. Following the transaction, the vice president directly owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. This represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FTNT. TD Cowen raised shares of Fortinet from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Friday, January 23rd. Royal Bank Of Canada restated 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. Wells Fargo & Company started coverage on Fortinet in a research note on Tuesday. They issued an “underweight” rating and a $64.00 price objective for the company. Barclays set a $88.00 target price on Fortinet in a research report on Tuesday, February 3rd. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $83.00 price target on shares of Fortinet in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $88.62.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Company outlook and results: Fortinet guided to ~13% billings growth for 2026 and reported quarterly revenue and EPS above Street estimates — a clear fundamental positive supporting buying interest. Fortinet forecasts article
• Positive Sentiment: Support from broker moves: BMO recently bumped its price target (to $95) and cites Fortinet’s long-term track record, adding analyst support that can underpin the rally. BMO note (via Yahoo)
• Neutral Sentiment: Valuation review: Recent coverage assesses FTNT valuation after the share-price momentum — useful context for investors weighing whether the rally is priced for continued growth. Valuation article
• Neutral Sentiment: Analyst/market notes roundup: Fortinet appears in several analyst research roundups and conference materials (Morgan Stanley presentation transcript and top analyst call summaries), which provide incremental detail but no single catalyst. Conference transcript
• Neutral Sentiment: Short-call follow-up: JPMorgan had listed FTNT among top short ideas weeks ago; recent write-ups show a mixed scorecard — the initial short interest narrative hasn’t clearly resolved and is producing uneven headlines. JPMorgan short ideas follow-up
• Neutral Sentiment: Data noise on short interest: Recent short-interest reporting in the feed shows implausible/zero values (likely a data error) — not a reliable signal for trading decisions today. (No actionable article link)
• Negative Sentiment: New negative analyst action: Wells Fargo initiated coverage with an Underweight rating and a $64 price target (materially below current levels), which is a clear near-term headwind and likely a major driver of intraday volatility. Wells Fargo initiation (Benzinga)
• Negative Sentiment: Additional sell-side downward signal reported: a Zacks note referenced Wells Fargo’s negative stance (phrased as a move to “strong sell”), reinforcing the negative take from that shop. Zacks summary

Fortinet Price Performance

Shares of NASDAQ:FTNT opened at $82.79 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17. The business’s fifty day moving average price is $80.13 and its two-hundred day moving average price is $81.43. The stock has a market cap of $61.26 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 2.80 and a beta of 1.05. Fortinet, Inc. has a one year low of $70.12 and a one year high of $109.33.

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 company had revenue of $1.91 billion during 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 business’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 firm 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. On average, analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current fiscal year.

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.