LGT Group Foundation Decreases Stake in Fortinet, Inc. $FTNT

LGT Group Foundation cut its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 7.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 418,889 shares of the software maker’s stock after selling 32,816 shares during the quarter. LGT Group Foundation owned approximately 0.06% of Fortinet worth $35,681,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. LSV Asset Management acquired a new position in Fortinet during the 2nd quarter worth approximately $25,000. Financial Consulate Inc. purchased a new stake in shares of Fortinet in the 3rd quarter valued at approximately $25,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Fortinet in the 3rd quarter valued at $25,000. Pinnacle Holdings LLC purchased a new stake in shares of Fortinet during the 3rd quarter worth $25,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Fortinet during the 3rd quarter worth $25,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 175,737 shares of the firm’s stock in a transaction that occurred 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 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Michael Xie sold 343,106 shares of the firm’s stock in a transaction that occurred on 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 $831,321,160.44. This represents a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FTNT has been the topic of several recent analyst reports. Morgan Stanley reissued an “underweight” rating and issued a $70.00 target price (up from $66.00) on shares of Fortinet in a report on Thursday, December 18th. Robert W. Baird set a $90.00 price target on Fortinet in a report on Friday, February 6th. Scotiabank cut Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 price objective for the company. in a research report on Monday, February 2nd. Daiwa Securities Group downgraded Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price objective on the stock. in a report on Wednesday, November 12th. Finally, Wedbush reissued an “outperform” rating and set a $90.00 target price on shares of Fortinet in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Fortinet currently has a consensus rating of “Hold” and an average price target of $88.62.

Fortinet Price Performance

Shares of NASDAQ:FTNT opened at $83.67 on Monday. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $109.33. The firm has a market capitalization of $61.91 billion, a P/E ratio of 34.43, a P/E/G ratio of 2.89 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09. The company’s fifty day moving average price is $80.23 and its 200 day moving average price is $81.51.

Fortinet (NASDAQ:FTNT) last released 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 net margin of 27.26% and a return on equity of 124.21%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. Fortinet’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. As a group, sell-side analysts predict that Fortinet, Inc. will post 2.09 earnings per share 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.