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

Intech Investment Management LLC cut its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 11.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 675,075 shares of the software maker’s stock after selling 88,270 shares during the quarter. Fortinet comprises approximately 0.5% of Intech Investment Management LLC’s portfolio, making the stock its 26th largest holding. Intech Investment Management LLC’s holdings in Fortinet were worth $56,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Fortinet by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after acquiring an additional 2,894,355 shares during the last quarter. State Street Corp lifted its position in Fortinet by 3.0% during the second quarter. State Street Corp now owns 29,183,161 shares of the software maker’s stock valued at $3,085,244,000 after purchasing an additional 862,468 shares during the period. Geode Capital Management LLC lifted its position in Fortinet by 5.2% during the second quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock valued at $1,783,091,000 after purchasing an additional 828,569 shares during the period. Norges Bank purchased a new stake in Fortinet in the second quarter worth approximately $1,640,900,000. Finally, Invesco Ltd. grew its position in Fortinet by 7.9% in the 2nd quarter. Invesco Ltd. now owns 9,248,182 shares of the software maker’s stock worth $977,718,000 after purchasing an additional 677,654 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet Stock Performance

NASDAQ:FTNT opened at $77.35 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 1.17. The stock has a 50-day simple moving average of $80.18 and a two-hundred day simple moving average of $81.35. The firm has a market capitalization of $57.52 billion, a PE ratio of 31.83, a P/E/G ratio of 2.60 and a beta of 1.06. Fortinet, Inc. has a 52-week low of $70.12 and a 52-week high of $111.31.

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

Insider Buying and Selling

In other news, CEO Ken Xie sold 175,737 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $14,308,506.54. Following the transaction, the chief executive officer directly owned 51,396,385 shares in the company, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael Xie sold 343,106 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value 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 approximately $831,321,160.44. This trade represents a 3.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 17.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays set a $88.00 price target on Fortinet in a report on Tuesday, February 3rd. Sanford C. Bernstein reissued a “market perform” rating and issued a $83.00 target price on shares of Fortinet in a report on Friday, February 6th. Truist Financial set a $88.00 target price on Fortinet in a research report on Tuesday, January 20th. Daiwa Securities Group downgraded Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price target for the company. in a research note on Wednesday, November 12th. Finally, Mizuho increased their price objective on shares of Fortinet from $72.00 to $74.00 and gave the stock an “underperform” rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-three have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $89.42.

Fortinet Company 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.