Intech Investment Management LLC Sells 88,270 Shares of Fortinet, Inc. $FTNT

Intech Investment Management LLC decreased its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 11.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 675,075 shares of the software maker’s stock after selling 88,270 shares during the period. Fortinet accounts for about 0.5% of Intech Investment Management LLC’s holdings, making the stock its 26th largest holding. Intech Investment Management LLC owned about 0.09% of Fortinet worth $56,760,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after acquiring an additional 221 shares in the last quarter. Bison Wealth LLC bought a new stake in Fortinet in the fourth quarter valued at $585,000. Envestnet Asset Management Inc. increased its position in Fortinet by 7.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 648,605 shares of the software maker’s stock valued at $68,566,000 after purchasing an additional 44,216 shares during the period. Brookwood Investment Group LLC bought a new position in Fortinet in the 2nd quarter worth $211,000. Finally, Transcend Capital Advisors LLC purchased a new stake in shares of Fortinet in the 2nd quarter worth about $559,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

FTNT has been the subject of a number of research reports. Truist Financial set a $88.00 price target on shares of Fortinet in a research note on Tuesday, January 20th. Piper Sandler reissued a “neutral” rating and issued a $90.00 target price (up from $85.00) on shares of Fortinet in a research report on Monday, January 5th. Wedbush restated an “outperform” rating and set a $90.00 price target on shares of Fortinet in a research report on Friday, February 6th. BMO Capital Markets increased their price objective on Fortinet from $90.00 to $95.00 and gave the stock a “market perform” rating in a report on Monday, February 9th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $87.00 target price on shares of Fortinet in a report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-three have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $89.42.

Insider Activity

In other Fortinet news, CEO Ken Xie sold 175,737 shares of Fortinet stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $14,308,506.54. Following the completion of the transaction, the chief executive officer directly owned 51,396,385 shares of the company’s stock, valued at approximately $4,184,693,666.70. The trade was a 0.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 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 disclosure for this sale is available in the SEC filing. 17.20% of the stock is currently owned by insiders.

Fortinet Trading Up 2.8%

Fortinet stock opened at $77.35 on Thursday. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $111.31. The company has a market capitalization of $57.52 billion, a price-to-earnings ratio of 31.83, a price-to-earnings-growth ratio of 2.60 and a beta of 1.06. The business’s fifty day simple moving average is $80.18 and its two-hundred day simple moving average is $81.35. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.07. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.Fortinet’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous 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. As a group, equities analysts predict that Fortinet, Inc. will post 2.09 earnings per share for the current fiscal year.

About Fortinet

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.