Stephens Investment Management Group LLC Trims Stake in Fortinet, Inc. $FTNT

Stephens Investment Management Group LLC lowered its position in Fortinet, Inc. (NASDAQ:FTNT) by 7.0% during the 4th quarter, HoldingsChannel reports. The firm 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.

A number of other institutional investors and hedge funds also recently made changes to their positions in FTNT. Pinnacle Holdings LLC purchased a new position in Fortinet during the third quarter worth about $25,000. Ameriflex Group Inc. bought a new position in Fortinet in the 3rd quarter worth about $25,000. Wexford Capital LP purchased a new stake in shares of Fortinet in the 3rd quarter valued at about $25,000. Palisade Asset Management LLC bought a new stake in shares of Fortinet during the 3rd quarter valued at about $28,000. Finally, Ares Financial Consulting LLC bought a new stake in shares of Fortinet during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Fortinet News Roundup

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.

Fortinet Price Performance

Shares of FTNT opened at $122.78 on Monday. Fortinet, Inc. has a 1 year low of $70.12 and a 1 year high of $123.33. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. The stock has a 50 day simple moving average of $87.51 and a two-hundred day simple moving average of $83.36. The firm has a market cap of $89.95 billion, a P/E ratio of 47.41, a P/E/G ratio of 3.38 and a beta of 0.92.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.62 by $0.20. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business’s revenue was up 20.1% compared to the same quarter last year. During the same period last year, the firm posted $0.58 earnings per share. 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, analysts forecast that Fortinet, Inc. will post 2.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Ken Xie sold 5,355 shares of Fortinet stock in a transaction on Monday, May 4th. The shares were sold at an average price of $88.90, for a total value of $476,059.50. Following the transaction, the chief executive officer owned 52,978,004 shares in the company, valued at $4,709,744,555.60. This trade represents a 0.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $88.89, for a total transaction of $220,269.42. Following the completion of the sale, the vice president directly owned 9,927,517 shares of the company’s stock, valued at $882,456,986.13. This represents a 0.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on FTNT shares. Royal Bank Of Canada restated a “sector perform” rating and issued a $107.00 price objective (up from $90.00) on shares of Fortinet in a research report on Thursday, May 7th. UBS Group lifted their target price on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. increased their price target on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Susquehanna raised their price objective on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, TD Cowen restated a “buy” rating and set a $125.00 price objective (up from $100.00) on shares of Fortinet in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-three have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $100.45.

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.