Stephens Investment Management Group LLC Sells 6,841 Shares of Fortinet, Inc. $FTNT

Stephens Investment Management Group LLC lessened its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 7.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 90,450 shares of the software maker’s stock after selling 6,841 shares during the period. Stephens Investment Management Group LLC’s holdings in Fortinet were worth $7,183,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Fortinet by 4.0% in the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after purchasing an additional 2,894,355 shares during the last quarter. State Street Corp increased its position in shares of Fortinet by 1.6% during the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after purchasing an additional 477,397 shares during the last quarter. Invesco Ltd. increased its position in shares of Fortinet by 17.0% during the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after purchasing an additional 1,568,337 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Fortinet by 30.9% during the 3rd quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock worth $636,962,000 after purchasing an additional 1,790,033 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Fortinet by 4.7% in the 3rd quarter. Legal & General Group Plc now owns 6,115,450 shares of the software maker’s stock worth $514,187,000 after buying an additional 273,428 shares during the last quarter. 83.71% of the stock is owned by institutional investors.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Zacks highlighted Fortinet as one of several security stocks benefiting from surging demand for cybersecurity solutions as companies accelerate digital transformation and cloud migration. 4 Security Stocks to Focus on From a Flourishing Industry
• Positive Sentiment: Scotiabank raised its FY2026 EPS estimate for Fortinet to $2.76 from $2.62, which can support investor confidence in earnings power even though the firm kept a Sector Perform rating and a $110 target.
• Positive Sentiment: Multiple market write-ups pointed to Fortinet’s strong Q1 beat, AI-driven demand, and institutional buying as reasons the stock has maintained strong momentum after earnings. Fortinet Stock’s Momentum Score Skyrockets As AI-Driven Q1 Beat Ignites Rally
• Neutral Sentiment: Scotiabank also trimmed its FY2027 EPS estimate to $2.95 from $3.02, which is a mild headwind but not enough to offset the more upbeat near-term outlook.
• Neutral Sentiment: Fortinet was mentioned in broader cybersecurity and market commentary alongside peers such as CrowdStrike and Okta, reinforcing sector strength rather than providing company-specific news.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Citigroup raised their price objective on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Arete Research set a $104.00 target price on shares of Fortinet and gave the company a “buy” rating in a research report on Monday, April 27th. Jefferies Financial Group set a $90.00 price target on shares of Fortinet in a research note on Friday, February 6th. Zacks Research raised shares of Fortinet from a “hold” rating to a “strong-buy” rating in a report on Thursday. Finally, Stifel Nicolaus set a $85.00 price objective on Fortinet in a research note on Wednesday, March 11th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-three have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Fortinet has an average rating of “Hold” and a consensus price target of $100.45.

Insider Buying and Selling at Fortinet

In related news, CEO Ken Xie sold 5,355 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $88.90, for a total transaction of $476,059.50. Following the sale, the chief executive officer directly owned 52,978,004 shares in the company, valued at approximately $4,709,744,555.60. The trade was a 0.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 2,478 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $88.89, for a total value of $220,269.42. Following the sale, the vice president directly owned 9,927,517 shares in the company, valued at $882,456,986.13. This trade represents a 0.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. 17.60% of the stock is currently owned by insiders.

Fortinet Stock Performance

Shares of FTNT stock opened at $122.78 on Monday. The firm’s 50 day moving average is $87.51 and its 200 day moving average is $83.36. The stock has a market capitalization of $89.95 billion, a P/E ratio of 47.41, a PEG ratio of 3.38 and a beta of 0.92. Fortinet, Inc. has a 12 month low of $70.12 and a 12 month high of $123.33. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the business earned $0.58 EPS. Fortinet’s revenue was up 20.1% compared to the same quarter last year. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. On average, sell-side analysts anticipate that Fortinet, Inc. will post 2.77 earnings per share for the current 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.