Shell Asset Management Co. Sells 47,725 Shares of Fortinet, Inc. $FTNT

Shell Asset Management Co. lowered its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 71.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,688 shares of the software maker’s stock after selling 47,725 shares during the quarter. Shell Asset Management Co.’s holdings in Fortinet were worth $1,571,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HighTower Advisors LLC lifted its holdings in Fortinet by 18.1% during the third quarter. HighTower Advisors LLC now owns 318,956 shares of the software maker’s stock worth $26,818,000 after buying an additional 48,789 shares during the period. Florida Financial Advisors LLC lifted its stake in shares of Fortinet by 29.8% during the 3rd quarter. Florida Financial Advisors LLC now owns 12,787 shares of the software maker’s stock worth $1,075,000 after purchasing an additional 2,936 shares during the last quarter. Balboa Wealth Partners boosted its position in Fortinet by 45.8% during the third quarter. Balboa Wealth Partners now owns 3,397 shares of the software maker’s stock valued at $286,000 after purchasing an additional 1,067 shares in the last quarter. Lafayette Investments Inc. bought a new stake in Fortinet during the third quarter valued at about $200,000. Finally, Abich Financial Wealth Management LLC purchased a new position in Fortinet in the third quarter valued at about $144,000. 83.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fortinet

In other news, VP Michael Xie sold 343,106 shares of the company’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 $27,935,690.52. Following the completion of the transaction, the vice president directly owned 10,210,282 shares of the company’s stock, valued at $831,321,160.44. This represents a 3.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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 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 position. The SEC filing for this sale provides additional information. Insiders own 18.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Daiwa Securities Group cut shares of Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price target on the stock. in a report on Wednesday, November 12th. JPMorgan Chase & Co. increased their price objective on Fortinet from $72.00 to $73.00 and gave the company an “underweight” rating in a report on Friday, February 6th. TD Cowen raised Fortinet from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Friday, January 23rd. 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, Truist Financial set a $88.00 price target on Fortinet in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-two have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.07.

Fortinet Trading Up 1.5%

Shares of NASDAQ:FTNT opened at $85.56 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $114.82. The stock 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 business has a 50-day moving average price of $80.56 and a 200-day moving average price of $81.92.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.74 by $0.07. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 EPS. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Equities analysts predict that Fortinet, Inc. will post 2.09 EPS for the current 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.