STF Management LP Sells 7,435 Shares of Fortinet, Inc. $FTNT

STF Management LP lessened its holdings in shares of Fortinet, Inc. (NASDAQ:FTNT) by 64.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,189 shares of the software maker’s stock after selling 7,435 shares during the quarter. STF Management LP’s holdings in Fortinet were worth $333,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Allstate Corp bought a new stake in shares of Fortinet during the 3rd quarter valued at about $2,034,000. Trilogy Capital Inc. boosted its position in shares of Fortinet by 46.8% during the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock valued at $3,506,000 after acquiring an additional 14,076 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Fortinet by 465.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 756,651 shares of the software maker’s stock valued at $64,255,000 after acquiring an additional 622,809 shares during the last quarter. Machina Capital S.A.S. bought a new stake in shares of Fortinet during the 3rd quarter valued at about $1,177,000. Finally, Victory Capital Management Inc. lifted its position in Fortinet by 5.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,651,683 shares of the software maker’s stock worth $138,874,000 after buying an additional 90,284 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on FTNT shares. Susquehanna boosted their target price on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. boosted their target price on Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, May 7th. BMO Capital Markets boosted their target price on Fortinet from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. Scotiabank boosted their target price on Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Finally, Rosenblatt Securities boosted their target price on Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-three have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Fortinet presently has a consensus rating of “Hold” and an average target price of $100.45.

Fortinet News Summary

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.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 5,355 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $88.90, for a total value of $476,059.50. Following the sale, the chief executive officer directly owned 52,978,004 shares of the company’s stock, valued at $4,709,744,555.60. This represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, VP Michael Xie sold 2,478 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $88.89, for a total value of $220,269.42. Following the completion of the sale, the vice president directly owned 9,927,517 shares in the company, valued at approximately $882,456,986.13. The trade was a 0.02% decrease in their ownership of the stock. 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

NASDAQ:FTNT opened at $122.78 on Friday. 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, Inc. has a 1-year low of $70.12 and a 1-year high of $123.33. The business has a 50 day moving average of $87.51 and a 200 day moving average of $83.37. The company has a market capitalization of $89.95 billion, a price-to-earnings ratio of 47.41, a PEG ratio of 3.38 and a beta of 0.92.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. The business’s revenue was up 20.1% on a year-over-year basis. 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 predict that Fortinet, Inc. will post 2.77 earnings per share 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.