Stenger Family Office LLC Invests $1.22 Million in Fortinet, Inc. $FTNT

Stenger Family Office LLC bought a new stake in Fortinet, Inc. (NASDAQ:FTNT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,331 shares of the software maker’s stock, valued at approximately $1,222,000.

Several other large investors have also recently added to or reduced their stakes in the company. Stegent Equity Advisors Inc. acquired a new position in Fortinet in the third quarter valued at about $233,000. Maryland State Retirement & Pension System boosted its position in Fortinet by 1.3% in the third quarter. Maryland State Retirement & Pension System now owns 31,326 shares of the software maker’s stock valued at $2,634,000 after buying an additional 400 shares in the last quarter. Occidental Asset Management LLC raised its position in Fortinet by 29.0% in the third quarter. Occidental Asset Management LLC now owns 8,389 shares of the software maker’s stock valued at $705,000 after purchasing an additional 1,886 shares during the last quarter. MinichMacGregor Wealth Management LLC acquired a new stake in Fortinet during the 3rd quarter worth approximately $3,494,000. Finally, Fulcrum Capital LLC raised its stake in shares of Fortinet by 3.6% during the third quarter. Fulcrum Capital LLC now owns 137,582 shares of the software maker’s stock valued at $11,568,000 after acquiring an additional 4,739 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ken Xie sold 158,485 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $86.51, for a total transaction of $13,710,537.35. Following the completion of the transaction, the chief executive officer owned 51,391,879 shares in the company, valued at approximately $4,445,911,452.29. This represents a 0.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael Xie sold 3,546 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $86.53, for a total transaction of $306,835.38. Following the completion of the transaction, the vice president directly owned 10,492,018 shares of the company’s stock, valued at approximately $907,874,317.54. This trade represents a 0.03% 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.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: KeyCorp raised multiple near‑term and full‑year EPS forecasts (Q4 2025–Q4 2026 and FY2025–FY2026), lifting FY2026 to $2.55 and trimming quarterly variance — a direct fundamental tailwind to earnings expectations (no link provided).
• Positive Sentiment: Zacks highlights Fortinet as a “strong growth stock,” emphasizing growth/style scores that may attract momentum and growth-oriented investors. Here’s Why Fortinet (FTNT) is a Strong Growth Stock
• Positive Sentiment: Forbes notes a long‑term bullish trendline and a sectorwide tailwind from semiconductor earnings (TSM) that could help FTNT break out of recent consolidation — a technical catalyst for a recovery move. Long-Term Bullish Trendline Could Help Fortinet Stock Break Out
• Neutral Sentiment: InsiderMonkey summarizes recent analyst activity: RBC reiterated a Hold (PT $85) while Piper Sandler adjusted its target — useful context but not a clear directional driver. Here’s What Analysts Think About Fortinet (FTNT)
• Neutral Sentiment: UBS issued a Hold on FTNT — a conservative stance that keeps shares range‑bound unless upgraded. Fortinet (FTNT) Gets a Hold from UBS
• Neutral Sentiment: Globe and Mail ran an analyst roundup on Fortinet — additional commentary but no single decisive call. Analysts Offer Insights on Technology Companies: Fortinet (FTNT) and Veritone (VERI)
• Negative Sentiment: J.P. Morgan maintained a Sell rating, citing elevated memory costs and margin risk and keeping a $75 price target — a notable bearish view that pressures sentiment and could limit upside. Fortinet Downgraded: Elevated Memory Costs and Margin Risk Drive Sustained Sell Rating
• Negative Sentiment: Recent market commentary notes FTNT has declined more than the market in recent sessions and remains materially below its 50/200‑day moving averages, underscoring near‑term technical weakness. Fortinet (FTNT) Declines More Than Market: Some Information for Investors

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Morgan Stanley reissued an “underweight” rating and set a $70.00 target price (up previously from $66.00) on shares of Fortinet in a research report on Thursday, December 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Fortinet in a research note on Monday, December 29th. Robert W. Baird cut their target price on Fortinet from $90.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Royal Bank Of Canada dropped their price objective on shares of Fortinet from $95.00 to $85.00 and set a “sector perform” rating on the stock in a report on Thursday, November 6th. Finally, UBS Group reduced their target price on Fortinet from $90.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $90.30.

Fortinet Stock Down 1.2%

FTNT opened at $75.38 on Friday. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $114.82. The firm has a market capitalization of $56.06 billion, a P/E ratio of 31.02, a PEG ratio of 2.63 and a beta of 1.07. The company’s 50-day moving average is $80.65 and its 200 day moving average is $85.30. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 0.94.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.Fortinet’s revenue was up 14.4% on a year-over-year basis. During the same period last year, the business posted $0.63 earnings per share. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. Research analysts expect 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.