Intech Investment Management LLC Decreases Stock Holdings in Fortinet, Inc. $FTNT

Intech Investment Management LLC reduced its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 86.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 91,686 shares of the software maker’s stock after selling 583,389 shares during the quarter. Intech Investment Management LLC’s holdings in Fortinet were worth $7,281,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FTNT. Pinnacle Holdings LLC acquired a new position in shares of Fortinet in the third quarter valued at about $25,000. Ameriflex Group Inc. acquired a new stake in Fortinet during the third quarter worth about $25,000. Wexford Capital LP acquired a new stake in Fortinet during the third quarter worth about $25,000. Elyxium Wealth LLC acquired a new stake in Fortinet during the fourth quarter worth about $27,000. Finally, Palisade Asset Management LLC acquired a new stake in Fortinet during the third quarter worth about $28,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Ken Xie sold 5,355 shares of Fortinet stock in a transaction that occurred 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 transaction, the chief executive officer owned 52,978,004 shares in the company, valued at approximately $4,709,744,555.60. This trade represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the transaction, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 153,848 shares of company stock worth $19,446,115. 17.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FTNT. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $87.00 target price on shares of Fortinet in a report on Tuesday, April 21st. Wells Fargo & Company reissued an “underweight” rating and issued a $70.00 price objective (up from $64.00) on shares of Fortinet in a report on Thursday, May 7th. Scotiabank raised their price objective on Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Jefferies Financial Group set a $90.00 price objective on Fortinet in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. raised their price objective on Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Fortinet currently has a consensus rating of “Hold” and an average target price of $102.69.

Fortinet Stock Performance

NASDAQ FTNT opened at $137.97 on Friday. The company has a market cap of $101.08 billion, a PE ratio of 53.27, a price-to-earnings-growth ratio of 3.80 and a beta of 0.92. The stock’s 50 day simple moving average is $96.96 and its 200-day simple moving average is $86.62. Fortinet, Inc. has a 1-year low of $70.12 and a 1-year high of $138.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the business posted $0.58 earnings per share. The firm’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. As a group, equities research analysts anticipate that Fortinet, Inc. will post 2.77 EPS 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.