Fortinet, Inc. $FTNT Holdings Reduced by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 60.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 76,305 shares of the software maker’s stock after selling 115,815 shares during the quarter. Janus Henderson Group PLC’s holdings in Fortinet were worth $6,236,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in FTNT. Expressive Wealth LLC bought a new stake in Fortinet in the fourth quarter worth about $646,000. Trilogy Capital Inc. grew its stake in shares of Fortinet by 46.8% in the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock worth $3,506,000 after purchasing an additional 14,076 shares during the last quarter. Leonteq Securities AG acquired a new position in shares of Fortinet in the 4th quarter worth approximately $10,422,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Fortinet in the 4th quarter worth approximately $14,638,000. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Fortinet by 156.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock worth $31,009,000 after purchasing an additional 238,299 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FTNT. DZ Bank cut shares of Fortinet from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Stifel Nicolaus set a $175.00 price objective on Fortinet and gave the company a “hold” rating in a research report on Thursday, July 30th. Rosenblatt Securities raised their price objective on Fortinet from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Stephens set a $115.00 target price on Fortinet and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Finally, Wolfe Research set a $175.00 target price on Fortinet in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty have assigned a Hold rating and five have issued 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 $150.91.

Insiders Place Their Bets

In related news, COO John Whittle sold 146,015 shares of the business’s 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 completion of the sale, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ken Xie sold 161,482 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This trade represents a 0.30% decrease in their position. 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. Insiders sold 475,157 shares of company stock valued at $69,480,964 over the last quarter. Insiders own 17.60% of the company’s stock.

Fortinet Price Performance

NASDAQ FTNT opened at $160.11 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $117.47 billion, a PE ratio of 56.38, a price-to-earnings-growth ratio of 3.11 and a beta of 1.07. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $172.09. The company has a 50 day moving average price of $153.11 and a two-hundred day moving average price of $111.77.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. Fortinet’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, equities analysts predict that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Cybersecurity demand and AI-related threats support growth. Zacks highlighted Fortinet as a leading security stock, citing accelerating digital transformation, cloud migration and the growing need to defend against AI-enabled attacks. Bloomberg’s report on AI-powered “vishing” attacks targeting financial firms reinforces the long-term demand outlook. Wall Street hit by wave of AI-powered vishing cyberattacks
• Positive Sentiment: Fortinet continues to receive favorable momentum ratings. Zacks added FTNT to its Rank #1 “Strong Buy” and momentum-stock lists, while other coverage identified it as a growth-at-a-reasonable-price and momentum candidate. What Makes Fortinet a Strong Momentum Stock
• Positive Sentiment: Brand recognition and AI execution add modest support. Forrester named Fortinet the Asia-Pacific winner of its inaugural B2B Marketing AI Impact Award, recognizing its use of AI to improve marketing performance. A separate “Bull of the Day” feature also emphasized the company’s opportunity as AI expands the cybersecurity threat landscape. Forrester Recognizes Fortinet as APAC Winner
• Neutral Sentiment: Insider selling was limited and pre-planned. Vice President Michael Xie sold approximately $508,000 of shares under a Rule 10b5-1 plan to cover tax obligations. The transaction reduced his holdings by only 0.03%, making it unlikely to signal a change in business outlook. Fortinet Insider Selling
• Negative Sentiment: Valuation and analyst caution are key risks. Seeking Alpha downgraded Fortinet to a Hold, while the broader analyst consensus remains Hold with a target below recent trading levels. At roughly 56 times earnings, investors may be taking profits after the stock’s substantial advance, particularly if growth or margins moderate. Downgrading Fortinet: Key Factors for a Hold Recommendation

Fortinet 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.