Northwestern Mutual Wealth Management Co. Sells 4,063 Shares of Fortinet, Inc. $FTNT

Northwestern Mutual Wealth Management Co. lowered its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 6.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,613 shares of the software maker’s stock after selling 4,063 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Fortinet were worth $8,543,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Hennessy Advisors Inc. bought a new stake in shares of Fortinet during the second quarter valued at approximately $226,000. Greenleaf Trust boosted its position in shares of Fortinet by 5.9% during the second quarter. Greenleaf Trust now owns 11,482 shares of the software maker’s stock worth $1,764,000 after acquiring an additional 640 shares during the last quarter. New Mexico Educational Retirement Board grew its stake in Fortinet by 4.7% during the second quarter. New Mexico Educational Retirement Board now owns 31,450 shares of the software maker’s stock valued at $4,831,000 after acquiring an additional 1,400 shares in the last quarter. Mufg Securities Americas Inc. grew its stake in Fortinet by 7.2% during the second quarter. Mufg Securities Americas Inc. now owns 18,756 shares of the software maker’s stock valued at $2,881,000 after acquiring an additional 1,266 shares in the last quarter. Finally, Nissay Asset Management Corp Japan increased its holdings in Fortinet by 5.0% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 204,942 shares of the software maker’s stock valued at $31,483,000 after acquiring an additional 9,745 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Stock Down 4.5%

Shares of NASDAQ:FTNT opened at $154.54 on Thursday. The company has a market cap of $113.39 billion, a price-to-earnings ratio of 54.42, a PEG ratio of 3.07 and a beta of 1.06. Fortinet, Inc. has a 12 month low of $73.55 and a 12 month high of $173.89. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $158.65 and a 200 day moving average price of $122.26.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, equities research analysts predict that Fortinet, Inc. will post 3.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FTNT shares. Zacks Research upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Scotiabank reiterated a “sector perform” rating and issued a $163.00 target price on shares of Fortinet in a research report on Thursday, July 30th. Barclays set a $190.00 price target on Fortinet and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $160.00 price objective on shares of Fortinet in a research note on Thursday, July 30th. Finally, Morgan Stanley reaffirmed a “positive” rating and set a $136.00 price objective (up from $133.00) on shares of Fortinet in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Fortinet has an average rating of “Hold” and a consensus target price of $150.91.

Insider Buying and Selling at Fortinet

In related news, CEO Ken Xie sold 161,482 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Xie sold 3,121 shares of Fortinet stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the transaction, the vice president directly owned 9,918,360 shares of the company’s stock, valued at $1,613,022,886.80. The trade was a 0.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 17.60% of the company’s stock.

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.